Apogenix raised €7.5 million in a financing round to support a Phase II study with its lead protein therapeutic candidate APG101 in the treatment of glioblastoma multiforme (GGM) and other potential cancer indications. Completion of the fundraising follows just two days after the German firm announced the award of a €2.3 million (over $2.99 million) federal German grant to support continued development of the CD95 ligand inhibitor as a potential treatment for myelodysplastic syndrome.
“APG101 has great potential to treat glioblastoma patients, a disease with very few treatment options,” remarks Thomas Höger, Ph.D., Apogenix’ CEO and CFO. “Based on the Phase II GBM data, we will approach potential partners to explore their interest in the therapeutic and economic potential of APG101.”
The €7.5 million financing round was led by dievini Hopp BioTech, which has been the main investor in Apogenix since its inception as a German Cancer Research Center spin out in 2005. Over the last six years Apogenix has raised over €50 million in financing, and been awarded public grants totaling over €8 million.