Akiram Therapeutics raises SEK 68 million for rare thyroid cancer drug development
Swedish company Akiram Therapeutics has secured SEK 68 million to fund the GMP production and initiation of clinical trials for its drug candidate targeting rare thyroid cancers.
Swedish radioimmunotherapy firm Akiram Therapeutics has raised SEK 68 million (approximately EUR 6.8 million) in a share issue to advance its drug candidate for rare thyroid cancers. The funding round was led by Sciety and Sciety Venture Partners, with participation from investment company Linc AB.
The proceeds will be allocated to GMP manufacturing of the drug candidate and the commencement of a Phase I clinical study. Akiram is developing a targeted radioimmunotherapy for anaplastic thyroid cancer, a condition with currently limited effective treatment options and a poor prognosis.
The drug candidate combines Akiram's proprietary antibody with the radioactive compound Lutetium-177. Preclinical studies have demonstrated significant efficacy against human thyroid tumors in animal models, without notable side effects or damage to surrounding tissues.
CEO Marika Nestor stated the financing provides the means to proceed with development at full speed toward clinical studies. Sciety and Linc highlighted the company's solid preclinical data and experienced founding team as key factors in their investment decision, acknowledging the growing importance of targeted radiation therapy in oncology.