February 22, 2022
Uppsala, Sweden – Strike Pharma, the company using its proprietary Adaptable Drug Affinity Conjugate (ADAC) technology platform to develop individualized immunotherapeutic treatments, today announced the successful completion of a 45 MSEK financing round. Eir Ventures (www.eirventures.eu), acting as lead investor, and Flerie Invest (www.flerie.com) join current shareholders in this second round. Founded in 2020, Strike Pharma raised 10 MSEK in its first financing round less than one year ago.
Mårten Winge, CEO of Strike Pharma commented, “Both new investors are strongly focused on supporting the development of innovative solutions to address major medical challenges and will bring a high level of industry and investor expertise to the company. Proceeds from the financing will be used to accelerate our efforts in bringing our first candidate to clinical trials and to further develop the ADAC technology platform.”
Today, Strike Pharma is focused on the development of novel, clinically-relevant candidates for use as immunotherapeutic vaccines in the treatment of solid tumors. By using ADAC technology, truly individualized treatments can be generated based on the genetic profile of each patient’s tumor. Such highly targeted treatment offers the potential to increase therapeutic efficacy and reduce dosage levels, thereby minimizing the risk of side effects.
Magnus Persson, chairman and co-founder of Eir Ventures stated, “We are impressed by the ADAC technology and the level of expertise amongst the Strike team. It is our firm belief that, in the future, the ADAC technology platform can take precision medicine to a new level, facilitating development of other patient-specific, antibody-based therapeutics across a wide variety of disease indications.”
About Strike Pharma (www.strikepharma.com)
Headquartered in Uppsala, Sweden, Strike Pharma is using the company’s proprietary Adaptable Drug Affinity Conjugate (ADAC) technology to take precision medicine to a new level, enabling development of truly individualized immunotherapeutic treatments based on the genetic profile of each patient’s tumor. Such highly targeted treatment offers the potential to not only increase therapeutic efficacy, but also to reduce dosage levels thereby minimizing the risk of side effects.
Today, Strike Pharma’s development program is focused on selection of novel, clinically-relevant candidates for use as immunotherapeutic vaccines in the treatment of solid tumors. However, the company is confident that the ADAC technology platform has the potential to facilitate development of many other antibody-based therapeutics and that this novel approach will have a significant impact across a wide variety of disease indications within the rapidly developing field of personalized medicine.
Strike Pharma was founded in 2020 with the aim of commercializing ADAC technology. Investors include Eir Ventures, Flerie Invest, Uppsala University Invest, Almi Invest, SLU Invest and Monesi Förvaltnings.
Mårten Winge, CEO
Cell: +46 (0) 70 657 59 27
Email: [email protected]