Sweden’s Strike Pharma raises 10 mln crowns

Uppsala-based Strike Pharma, which is developing a new efficient cancer treatment, has raised a round of close to 10 million Swedish crowns from Almi Invest and private investors to fund the development of a first version of the drug.

Strike Pharma has developed a completely new technology for a new individual-based cancer treatment, which, based on the genetic profile of each patient tumor, attacks the tumor cells and leaves other normal cells in the body in peace. The advantage of this is that you get a much more effective treatment while reducing the risk of side effects.

This new, antibody-based method enables a faster and more cost-effective development of new treatments for several different cancers. The treatment is given as a syringe in the arm. Since the antibody is to some extent target-seeking, it is not necessary to give large doses, which greatly reduces the risk of side effects.

The 2020-founded company now plans to develop the concept further, where one of the goals is to develop a so-called Candidate Drug, which can then be taken on to early animal experiments.

“This investment enables us to take the next step in our development and show that we can produce our drug candidate on a larger scale in an efficient way,” Strike Pharma’s CEO Mårten Winge said in a statement.