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Oncoinvent Secures NOK 250 M in an oversubscribed Pre-IPO Funding Round
June 29, 2021 GMT
OSLO, Norway (BUSINESS WIRE) Jun 29, 2021
Norway Oncoinvent AS, a clinical stage company advancing a pipeline of radiopharmaceutical products across a variety of solid cancers, announced today that the company has raised NOK 250 million in an oversubscribed pre-IPO financing round syndicated by existing investors Hadean Ventures, Geveran, RADFORSK Investeringsstiftelse, Sundt, Must Invest, Canica, MP Pensjon and Watrium. The net proceeds from the Private Placement are expected to ensure financing past end of 2023 for its lead product candidate Radspherin®, including financing of two clinical phase 2A studies (in ovarian cancer and colorectal cancer) as well as the advancement of the company’s proprietary targeted radiotherapy candidates. Oncoinvent has raised a total of NOK 535 million to date.
Norway Oncoinvent AS: Oncoinvent Secures NOK 250 M in an oversubscribed Pre-IPO Funding Round
Norwegian radiopharmaceutical company announces successful closing of a private placement that will allow the company to initiate the next phase of clinical development of its lead product candidate Radspherin
Norway Oncoinvent AS, a clinical stage company advancing a pipeline of radiopharmaceutical products across a variety of solid cancers, announced today that the company has raised NOK 250 million in an oversubscribed pre-IPO financing round syndicated by existing investors Hadean Ventures, Geveran, RADFORSK Investeringsstiftelse, Sundt, Must Invest, Canica, MP Pensjon and Watrium. The net proceeds from the Private Placement are expected to ensure financing past end of 2023 for its lead product candidate Radspherin, including financing of two clinical phase 2A studies (in ovarian cancer and colorectal cancer) as well as the advancement of the company s proprietary targeted radiotherapy
Following a Year of Outstanding Performance, Oncoinvent Aims to Raise NOK 150-200 Million to Move Into Efficacy Studies With Radspherin® benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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7MBq dose of Radspherin
determined to be safe, and approved by the SMC as the recommended clinical dose for repeated injection and expansion cohorts of RAD-18-002 study
Oncoinvent AS, a clinical stage company advancing a pipeline of radiopharmaceutical products across a variety of solid cancers, today announced that the Safety Monitoring Committee for the RAD-18-002 clinical trial has concluded that the 7 MBq dose of Radspherin to be safe and has approved initiation of the repeated injection and expansion cohorts of the ongoing RAD-18-002 Phase 1 study in colorectal cancer patients suffering from peritoneal carcinomatosis. Radspherin, an a-emitting radionuclide therapy designed for treatment of metastatic cancers in body cavities, is also being evaluated in an ongoing Phase 1 study in ovarian cancer patients with peritoneal carcinomatosis.