June 18, 2021
Swedish immuno-oncology newcomer STRIKE Pharma raises SEK 10 million for development of individualized solid tumour therapy
Uppsala-based Strike Pharma today announced completion of a new share issue of just under 10 MSEK. The funds will be used for future clinical studies and commercial development of the company’s patent-pending technology platform for individualized immuno-oncology treatments.
Strike Pharma addresses the pressing need for new and improved individualized treatments of solid tumors. Strike Pharma’s technology platform accomplishes this with a targeted antibody that delivers synthetically produced tumor material into the immune cells that are specialized in activation of tumor-killing T cells. This results in an immune response in which cancer cells are attacked – similar to the process by which vaccines provide protection against infectious diseases. Through genetic analysis, the synthetic material can be adapted to each patient – key to individualized treatment.
“Strike Pharma is very well positioned to have a major impact on the current rapid developments in precision medicine and future individualized treatments”, commented Mårten Winge, CEO of Strike Pharma.
Strike Pharma’s technology is based on research from Associate Professor Sara Mangsbo at Uppsala University and has been developed together with the Drug Discovery and Development Platform of SciLifeLab – an institution for the advancement of molecular biosciences in Sweden. The primary focus is on cancer, but the technology itself has the potential to be used across a wide variety of disease indications.
The capital injection of close to 10 MSEK will initially be used for extended IP protection and generation of data to lay the foundation for future clinical studies and the company’s commercial development.
“Of course, we have a lot of work ahead of us and additional capital injections will be needed to develop the company’s full potential, but this is an important step in the right direction. We will now make the most out of these new resources in our continued efforts to make Strike Pharma successful”, says Mårten Winge.
Investors, in addition to the scientific founders, include, Uppsala University Invest, Almi Invest, SLU Invest, Monesi Förvaltnings AB and AB Ility AB.
For more information, please contact:
Mårten Winge, CEO
+46 (0) 70 657 59 27