AbilityPharma, a Barcelona, Spain-based biopharmaceutical company focused on the development of innovative oral autophagy-inducing anticancer compounds, raised €7M in funding.
The round saw participation from CTI Life Sciences Fund, Inveready, the EIC Fund, Fitalent and CDTI Innvierte.
The company intends to use the funds to finance its phase 2b clinical study of antitumor compound ABTL0812 in patients with pancreatic cancer.
Led by CEO Carles Domènech, Ability Pharmaceuticals is a biopharmaceutical company focused on the development of innovative oral autophagy-inducing anticancer compounds. It is completing a Phase 2b clinical trial with ABTL0812 in metastatic pancreatic cancer (all 140 patients recruited) with the aim of demonstrating greater efficacy than standard treatment FOLFIRINOX. The double-blind, placebo-controlled, first-line study in combination with FOLFIRINOX is ongoing in 23 hospitals in Spain, USA, France, and Israel. Efficacy results are expected by year-end.
Commenting on the news, Carles Domènech said: “We are thankful to CTI Life Sciences, Inveready and the EIC Fund for completing this financing round, and to all our new and existing investors for their confidence in our team and for their support to our goals. This investment will allow us to continue working tirelessly on taking ABTL0812 to patients with pancreatic cancer.”
FinSMEs
11/03/2024