Akiram Therapeutics raises SEK 68 million for rare thyroid cancer drug development
Swedish radioimmunotherapy company Akiram Therapeutics has raised SEK 68 million to fund clinical development of its drug candidate for rare thyroid cancers. The proceeds will be used for GMP production and to initiate a Phase I clinical study.
Akiram Therapeutics, a Swedish radioimmunotherapy firm, has secured SEK 68 million in a funding round to advance its drug candidate for rare thyroid cancers into clinical trials. The investment was led by Sciety and the Sciety Venture Partners network, with participation from the investment company Linc AB, which contributed SEK 20 million.
The capital raised will be allocated to Good Manufacturing Practice (GMP) production of the drug candidate and the initiation of a Phase I clinical study. Anaplastic thyroid cancer, the target disease, currently has no effective treatment options and a very poor prognosis for patients.
The drug candidate combines Akiram's proprietary antibody technology with the radioactive compound Lutetium 177. The project has previously been developed within an academic setting with support from entities including SciLifeLab and the Swedish Cancer Society.
Preclinical data in animal models has demonstrated significant efficacy against human thyroid tumors. These studies also indicated a lack of side effects or damage to surrounding tissues. The company plans to leverage this funding to progress into human trials.