Beactica completes a funding round from investors including Almi Invest and Unionen.
Beactica, a Stockholm, Sweden-based drug discovery company, announced completing an investment agreement for adding capital to the company.
The financing round was 60% oversubscribed, and more than a third of the investors were new to Beactica. The remainder was provided by several existing shareholders, including Almi Invest and UNIONEN.
The funds that will be used to advance the Company’s internal pipeline of discovery-stage oncology programmes. This will include the advancement of Beactica’s LSD1 programme through an in vivo proof-of-concept study in glioblastoma, and with studies in other indications to follow.
Beactica AB, founded in 2006 based on research carried out at Uppsala University and led by CEO Per Källblad, is a specialist in fragment-based drug discovery using SPR biosensor technology. the company developed proprietary methodologies to evaluate the interactions of molecules in order to generate novel therapeutics. As well as progressing its own drug discovery programmes in areas of unmet medical need, Beactica offers partnerships for fragment-based lead generation using its proprietary discovery platform.