Aprea Therapeutics completes a €50M capital investment in Series C funding.

Aprea Therapeutics, a Boston, Massachusetts- and Stockholm, Sweden-based clinical-stage biotechnology company developing novel anticancer therapies targeting the p53 tumor suppressor protein, announced closing a €50M ($57M) Series C financing.

The round was led by the Redmile Group, with participation by new investor Rock Springs Capital and existing investors 5AM Ventures, Versant Ventures, HealthCap, Sectoral Asset Management and Karolinska Development AB.  A representative from Redmile Group will also be appointed as Director to the Aprea Therapeutics Board of Directors.

Proceeds from the financing will be used to advance the clinical development of APR-246, a first-in-class anticancer agent that reactivates mutated p53 tumor suppressor protein.  Aprea is planning to begin a Phase 3 clinical study in myelodysplastic syndromes (MDS) and is nearing completion of a Phase Ib/II clinical trial in p53 mutated high-risk myelodysplastic syndromes (MDS) and oligoblastic acute myeloid leukemia (AML) with APR-246 and azacitidine. The Phase II part of the study is ongoing, with updated data to be presented at the 2018 American Society of Hematology (ASH) annual meeting.

Aprea Therapeutics, led by Christian S. Schade, is a biopharmaceutical company focused on the discovery and development of novel anticancer compounds that reactivate the tumor suppressor protein, p53. The Company’s lead drug candidate is APR-246, a first-in-class small molecule in clinical development for myelodysplastic syndromes (MDS) and high-grade serious ovarian cancer, and trials in additional hematologic malignancies are planned.  Aprea is also developing second generation p53 reactivators that have best-in-class potential. 

Prior to this deal, in March 2016, Aprea completed a EUR 46 million Series B financing with an international syndicate co-led by Versant Ventures and 5AM Ventures, with additional participation by Sectoral Asset Management, HealthCap, acting as local lead investor, and existing investor, Karolinska Development. For more information, please visit www.apreatherapeutics.com.