Rappta Therapeutics secured a €9 million Series A funding round co-led by Novartis Venture Fund and Novo Holdings

Rappta Therapeutics, a Helsinki, Finland-based biotech developer of a phosphatase technology platform providing a new paradigm in oncology, announced securing a €9 million ($10.5M) Series A funding round.

The money was raised from co-led by Novartis Venture Fund and Novo Holdings with participation from Advent Life Sciences and a family office.

The company also announces it has received funding in grants provided by Business Finland, the Finnish innovation funding organization.

Rappta Therapeutics, led by CEO Mikko Mannerkoski, is developing first-in-class anti-cancer drugs activating protein phosphatase 2A (PP2A). It has developed proprietary tools and a unique understanding of PP2A which allows it to therapeutically reactivate PP2A, a critical enzyme regulating protein de-phosphorylation and tumor growth, with the potential to create a new class of anti-cancer drugs.

Rappta has operations both in Finland and the US.