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Wednesday, May 25, 2022

Norwegian innovative preclinical pharmaceutical company raised $1.4M seed

Oslo-based startup Hemispherian has raised 1.4 million dollars in a seed round. The oversubscribed round was led by Meneldor, a biopharmaceutical investment company in the Netherlands. The innovative preclinical pharmaceutical company is planning to use the capital for drug development activities and also expand with its preclinical pipeline.

The company focuses on developing a novel class of small-molecule drugs that target the TET2 enzyme as an epigenetic therapy for particularly aggressive cancers. The company’s lead compound is currently in late-stage preclinical development for glioblastoma multiforme, a deadly cancer of the central nervous system.

Hemispherian raises seed funding for novel cancer therapeutics

Hemispherian AS, a Norwegian preclinical pharmaceutical company focused on small molecule cancer therapeutics targeting the DNA damage response, is delighted to announce the closure of its successful seed financing. The oversubscribed round raised NOK 12.5M (USD 1.4M). The proceeds will support the company’s drug development activities, expand its preclinical pipeline and move its lead therapeutic compounds towards clinical development.

The round was led by the Dutch Investment Firm, Meneldor, who partnered with Norwegian and American investors. Hemispherian AS welcomes new board members Paul Lelieveld, Wolfram Eichner, and Frode Vartdal. These members will join Steven Powell, Dallas Hack and Masha Strømme to lead the company’s preclinical and clinical ambitions.

Hemispherian, Paul Lelieveld“We are excited by Hemispherian’s intriguing approach to target a novel mechanism that results in selective cancer toxicity. We look forward to working with the Hemispherian team to expand their drug pipeline and advance their lead assets toward the clinic.” says Paul Lelieveld, Co-Founder of Meneldor.

Click here to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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