Apogenix Raises EUR 7.5 Million to Further Advance APG101 to Treat Glioblastoma and other Tumors
Thu Jan 5, 2012 3:32am EST
Apogenix / Apogenix Raises EUR 7.5 Million to Further Advance APG101 to Treat Glioblastoma and other Tumors . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
- All existing investors participated in this financing round
- Clinical proof-of-concept data with APG101 expected in Q1/2012
Heidelberg, January 5, 2012 - The biopharmaceutical company Apogenix GmbH today announced the successful completion of a EUR 7.5 million financing round led by dievini Hopp BioTech holding GmbH & Co. KG (dievini). Other investors include the German Cancer Research Center (DKFZ), the founders and the executive management team of Apogenix. These funds will enable Apogenix to further advance the phase II clinical trial of APG101 to treat Glioblastoma Multiforme (GBM) and other cancer indications.
APG101 is a first-in-class, fully human protein that provides an innovative therapeutic approach to treating solid tumors such as GBM. APG101 is the most advanced inhibitor of the CD95 ligand (CD95L) in clinical development. In September 2011, Apogenix announced the completion of patient recruitment of its phase II clinical trial in GBM. Final results of this trial are expected in the first quarter of 2012.
"APG101 has great potential to treat Glioblastoma patients, a disease with very few treatment options. With the sustained support of our existing investors, we can continue to exploit the therapeutic potential of this innovative compound", said Dr Thomas Höger, CEO/CFO of Apogenix. "Based on the phase II GBM data, we will approach potential partners to explore their interest in the therapeutic and economic potential of APG101."
Dr Friedrich von Bohlen, Chairman of the Board of Apogenix and Managing Director of dievini commented: "We are very pleased with the progress of the APG101 program that is expected soon to show clinical proof-of-concept. Based on existing data and findings, everyone at Apogenix is excited about the therapeutic and commercial potential of this novel compound and treatment option for the most common and aggressive type of primary brain tumor as well as other solid tumors."
Apogenix, a spin-out from the German Cancer Research Center (DKFZ), is developing novel protein therapeutics for the treatment of cancer and inflammatory diseases based either on the targeted modulation of apoptosis (programmed cell death) or on blocking the growth of tumor cells. The company's lead product candidate APG101 is being developed for the treatment of Glioblastoma Multiforme (GBM), the most common and aggressive type of primary brain tumor. Since its inception in 2005, the company has raised more than EUR 50 million with dievini Hopp BioTech Holding GmbH & Co. KG as main investor, and has been awarded public grants totaling over EUR 8 million. Apogenix is based in Heidelberg, Germany.
The company's lead product candidate, APG101, a first-in-class, fully human, soluble fusion protein combining the extracellular domain of the CD95 receptor and the Fc portion of IgG, successfully completed a phase I study in 2009. In December 2009, Apogenix started a controlled phase II trial with APG101 for the treatment of Glioblastoma Multiforme. The patient recruitment for this study was completed in September 2011. Apogenix was granted orphan drug designation for APG101 in 2009 for the treatment of GBM in Europe and in the US.