APIM Therapeutics has announced that the company has closed a financing round raising $3M.

APIM Therapeutics AS, a Trondheim, Norway-based company working on the development of an emerging cancer drug, announced that the company had closed an investment round raising $3M.

The largest part of the investment is provided by new investors Bergen Research Foundation and Investinor AS and current lead investor Sarsia, through Sarsia Seed AS and NIK III AS. Seven other shareholders including two new investors also participated in this round.

The funds will be used to file a Clinical Trial Application (CTA) and start the clinical development program of APIM Therapeutics’ anti-cancer lead compound, ATX-101.

APIM Therapeutics, founded in 2009 and led by CEO Kostas Alevizopoulos, is based on an original discovery by Prof. Marit Otterlei and co-inventors at the Department of Cancer Research and Molecular Medicine at NTNU (Trondheim, Norway). The company is currently developing proprietary peptide drugs targeting PCNA (Proliferating Cell Nuclear Antigen), a key DNA repair protein regulating cellular responses to DNA damage and stress.