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Norwegian healthtech raises the first tranche of a Series A to fund the development of its novel cancer therapeutics

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Oslo-based preclinical pharmaceutical startup Hemispherian AS closes $2.9 million in the first tranche of its series A1 financing round led by the Dutch investment firm, Meneldor with the participation of Norwegian investors Kistefos AS and Kvantia AS, most of the earlier investors followed their seed investment. The board chaired by Steven Powell remains unchanged. The funding will feed the startup’s activities on drug development and expansion of its preclinical pipeline.

Hemispherian is an innovative pharmaceutical company focused on developing a novel class of small molecule drugs (GLIX). GLIX compounds target the TET2 enzyme and activate the DNA damage response resulting in cancer cell death. The company’s lead compound, GLIX1, is in late-stage preclinical development for the treatment of glioblastoma multiforme, a deadly cancer of the central nervous system and the leading cause of death by disease in children.

Hemispherian is further focused on developing a companion diagnostic tool to support patient selection for optimal therapeutic response to GLIX1.

Hemispherian, Meneldor, Paul Lelieveld“Hemispherian continues to accelerate its clinical ambitions and we are pleased to continue our support of Hemispherian’s selective anti-cancer pharmaceutical pipeline. This funding will support preclinical development of GLIX1 and GLIX5, the company’s lead assets.” says Paul Lelieveld, Meneldor Cofounder.

Click to read more funding news.

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