Hemispherian raises the first installment of a Series A to fund the development of its new cancer therapeutic

OSLONorway 🇧🇷 November 24, 2022 /PRNewswire/ — Hemispherian AS (“Hemispherian” or the “Company”), a Norwegian preclinical pharmaceutical company focused on small molecule cancer therapies targeting the DNA damage response, is pleased to announce the closure of first installment of its series A1 funding round. the round has increased NOK 30M 🇧🇷USD 2.9 million🇧🇷 The proceeds will support the company’s drug development activities, expand its pre-clinical pipeline and bring its key therapeutic compounds into clinical development.

Hemispherian Logo (PRNewsfoto/Hemispherian AS)

The round was led by Dutch investment firm Meneldor, which partnered with Norwegian and American investors. Among the Norwegian investors are Kistefos AS and Kvantia AS. Most previous investors followed through on their initial investment, and the board chaired by Steven Powellremains unchanged.

“Hemispherian continues to accelerate its clinical ambitions and we are pleased to continue our support of Hemispherian’s anti-cancer selective pharmaceutical portfolio. This funding will support the preclinical development of GLIX1 and GLIX5, the company’s flagship assets.”
🇧🇷 Paul LeeveldMeneldor Co-Founder

About the AS of the Hemisphere
Hemispherian is an innovative pharmaceutical company focused on developing a new class of small molecule drugs (GLIX). GLIX compounds target the TET2 enzyme and activate the DNA damage response, resulting in the death of cancer cells. The company’s flagship compound, GLIX1, is in an advanced stage of preclinical development for the treatment of glioblastoma multiforme, a deadly cancer of the central nervous system and the leading cause of death from disease in children. Hemispherian is further focused on developing a complementary diagnostic tool to support patient selection for an optimal therapeutic response to GLIX1. Hemispheric is based on Oslo, Norway🇧🇷 For more information visit www.hemispherian.com🇧🇷

About Meneldor
Meneldor, headquartered at the netherlands, invests in early stage Western European pharmaceutical and biotechnology companies. Meneldor is focused on companies that develop new biological or chemical molecular entities that address a significant unmet medical need. Hemispherian is Meneldor’s sixth and most recent addition to its list of portfolio companies.

About Kistefos
Kistefos AS is a private investment company owned by Christen Sveaas. The firm was established in 1998 and manages a diversified portfolio of companies across multiple sectors including offshore, shipping, financial services, technology and real estate. Kistefos’ investment portfolio is managed from Oslo, Norwayand its main focus is investments in Europe🇧🇷

About Kvantia
Kvantia is a global partnership of investors in Oslo, Norway, formerly Andenæsgruppen. Kvantia has a disciplined investment strategy, ensuring superior risk-adjusted returns while aiming to positively influence and impact the qualitative aspects of life on Earth. Its quantitative activities are organized in Kvantia AS and its qualitative activities in Kvalia AS.

Contact:
Zeno AlbisserCEO
Gaustadalléen 21
0349 Oslo
[email protected]
+47 406 03 455

Logo – https://mma.prnewswire.com/media/1506813/Hemispherian_Logo.jpg

spin-off

spin-off

See original content for multimedia download: https://www.prnewswire.com/news-releases/hemispherian-raises-the-first-tranche-of-a-series-a-to-fund-the-development-of- its -novel-cancer-therapeutics-301686319.html

SOURCE Hemispheric AS

Hemispherian raises the first installment of a Series A to fund the development of its new cancer therapeutic

Leave a Reply

Your email address will not be published.

Scroll to top