Sciety invests in a company developing targeted radioimmunotherapy for incurable cancer
Sciety and the network Sciety Venture Partners have invested SEK 68 million in the Swedish radioimmunotherapy company Akiram Therapeutics. The investment company Linc AB participated in the share issue with SEK 20 million. Akiram is developing a new type of targeted radiotherapy against incurable cancer that has shown excellent results in extensive preclinical studies.
Progress in the diagnostics and treatment of cancer has led to a significantly improved survival rate, but for some types of cancer, the survival rate is still close to zero. For anaplastic thyroid cancer, there is no effective treatment at all today, and the patients survive only a few months after the diagnosis. The need for new therapies is urgent.
Akiram Therapeutics has developed a new type of targeted radioimmunotherapy, showing excellent results in several preclinical studies for anaplastic thyroid cancer, the company’s first indication. The tumours have disappeared entirely with just one treatment. As a result, the drug candidate has the potential to both become first-in-class and be classified as an orphan drug.
The drug candidate combines Akiram’s proprietary antibody, the result of many years of research, and the radioactive compound Lutetium 177.
“Targeted radioimmunotherapy is a new and rapidly growing field expected to become the next big breakthrough in cancer treatment. The reasons for our decision to invest in Akiram are, among others, the founding team’s long experience in the field, both from academia and industry, as well as their solid preclinical data. We now look forward to participating in the company’s continued journey,” says Andreas Lindblom, Managing Partner at Sciety.
Akiram has, until now, run the project within academia with support from, among others, SciLifeLab, VINNOVA, and the Swedish Cancer Society. Robust preclinical data shows, among other things, that the drug candidate has a significant effect on human thyroid tumours in animals without causing side effects or damage to the surrounding tissue.
“We would like to thank Sciety, Sciety Venture Partners, and Linc for their great confidence in Akiram and our drug candidate. We now have the means to continue our work at full speed and take the next important steps on our exciting journey. We are very eager to continue the development of our drug candidate and to initiate phase I clinical studies,” says Marika Nestor, CEO of Akiram.
“We are very impressed with the company’s preclinical work, including the outstanding study results. In addition, we have high confidence in the management’s ability to successfully run both the production development work and the clinical phase-1 trial. We look forward to being part of the company’s future development,” says Karl Tobieson, CEO of Linc.
About Akiram Therapeutics
Akiram Therapeutics is a Swedish radioimmunotherapy company developing developing targeted molecular radiation therapy based on a proprietary antibody combined with a radiation component. The candidate has shown strong results in preclinical studies. The first indication is anaplastic thyroid cancer, a rare diagnosis with no curative treatment options. This means an opportunity to become first-in-class and to be classified as an orphan drug. The company also sees great clinical potential for other types of cancer in the thyroid gland and the head and neck.
Akiram’s team includes leading experts in radiation science research, cancer precision medicine, and drug development. The company’s founder Marika Nestor is a multiple award-winning cancer researcher with over 50 published articles.
For more information, please contact:
Andreas Lindblom, Managing Partner, Sciety: , +46 (0)70 375 73 73.
Marika Nestor, CEO, Akiram: +46 (0)70 234 18 81.
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