Novartis, Novo lead €9m series-A for Rappta Therapeutics
Novartis Venture Fund and Novo Holdings have co-led a €9m series-A funding round for Finnish developer of anti-cancer drugs Rappta Therapeutics.
The round also saw participation from a family office, Advent Life Sciences, and Business Finland.
The biotech startup has developed proprietary tools and a unique understanding of protein phosphatase 2A (PP2A), an enzyme regulating protein de-phosphorylation and a tumour suppressor that until now has been very difficult to target pharmaceutically. The company's technologies offer the potential to develop multiple lead compounds and build a platform for a new class of anti-cancer drugs.
As part of the deal, Beat Steffen from Novartis, Jeroen Bakker from Novo Seeds and Raj Parekh from Advent Life Sciences, will join the company's board of directors, with Steffen serving as chairperson.
Company
Founded in 2019 and based in Helsinki, Rappta is a biotechnology company developing anti-cancer molecules that reactivate a key tumour suppressor, PP2A.
It employs fewer than 50 staff, according to its LinkedIn page.
People
Rappta Therapeutics – Goutham Narla (co-founder).
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