Epitherapeutics raises extra capital for cancer drug discovery  

2010.02.11
The biopharmaceutical company has raised an additional DKK 10m in seed financing from the venture arm of Danish pharma firm Lundbeck
Danish biopharmaceutical company Epitherapeutics, which is developing pharmaceutical agents for the treatment of cancer based on its know-how in the gene-related field of epigenetics, writes in a news release that it has raised DKK 10m (USD 1.85m) in seed financing from the venture arm of Danish pharma firm Lundbeck.
 
The new financing from Life Science Investments (LFI) brings the total amount of seed financing to DKK 34m (USD 6.3m), other investors in Epitherapeutics being Novo Seeds and Seed Capital. The cash will be used to support further drug discovery efforts to build a pipeline of novel small molecule drugs primarily for the treatment of cancer.
 
The drug discovery process is conducted in close collaboration with Professor Kristian Helin's laboratory at the Biotech Research and Innovation Centre, which is part of the University of Copenhagen. Prof. Helin is a leading authority in the area of epigenetic enzymes and their role in human disease, including cancer.
 
Dr. Martin Bonde, CEO of Epitherapeutics, comments in the news release: “Expanding our syndicate to include LFI adds another investor with significant drug discovery and company building expertise as well as substantial capital resources. We are pleased to welcome Life Science Investments and we are grateful for the continued support from our existing investors Novo Seeds and Seed Capital. I look forward to working with our investors to continue to build a leading company in the promising new area of epigenetics.”
 
Link > Epitherapeutics             
 

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