PhD | Director Therapeutic Innovation and BaseLaunch
Tel. +41 61 295 50 17stephan. emmerth@baselarea. swiss
Piqur Therapeutic, a Basel-based clinical-stage pharmaceutical company focused on the discovery and development of innovative anti-cancer drugs, announced the closing of an oversubscribed CHF 18 million round of Series A2 financing. This round was backed by several existing investors, including Versant Ventures, as well as new, private investors.
According to the press release, the new funding brings the total capital raised by Piqur to date to over CHF 55 million. The company plans to use the funding to further strengthen its operational basis and to extend the financing horizon for additional Phase 2 studies for its lead compound PQR309, which has shown preclinical activity in different aggressive cancer cell lines inhibiting the PI3K/mTOR pathway, as well as clinical activity in phase 1. In addition, the new funding will support the preclinical safety and first clinical studies for one of its follow-up compounds.
Piqur, a spin-off of the University of Basel, aims to help patients to survive cancer. The company targets both PI3K (phosphoinositide 3-kinase) and mTOR (mammalian target of rapamycin), two key signaling molecules that are vital to several essential biological processes involved in malignant disease, such as cell growth, proliferation, survival and metastasis, making them attractive targets in cancer therapy.
The complete press release of Piqur