HealthCap, Versant et al. lead SEK 437m series-B for Aprea

Canadian investor Sectoral Asset Management also participated in the round, alongside existing backer Karolinska Development.

The VC, which has ties with Swedish university Karolinska Institutet, converted SEK 60m of existing outstanding loans to Aprea into equity, resulting in the investor holding a 19% stake in the company. KDev Investments, Karolinska's joint investment vehicle with Rosetta Capital, and the KCIF Co-Investment Fund, will be the majority shareholder in Aprea post-investment.

With the fresh cash in hand, Aprea will fund further development of its anti-cancer therapies, in particular the phase-II ovarian cancer trial of its APR-246 compound aimed at reactivating tumour suppressor protein p53. It will also establish a leadership team in the US.

According to unquote" data, the series-B is one of the largest-ever early-stage rounds for a Nordic biotechnology company, and the largest since Ascendis Pharma's €48m round in December 2014.

Previous funding
Aprea raised its series-A, a SEK 25m round, in December 2007. Industrifonden led the round, with existing investors Karolinska Development, Praktikerinvest and long-term Karolinska-partner Östersjöstiftelsen participating alongside.

Company
Based in the Karolinska Institutet Science Park in Stockholm, Aprea is a biotechnology company engaged in the development of anti-cancer treatments targeting the cancer suppressor protein p53.

People
Aprea – Bernd R Seizinger (executive chair).
Versant Ventures – Guido Magni (partner).
5AM Ventures – Scott M Rocklage (managing partner).
Rosetta Capital – Jonathan Hepple (partner).
HealthCap – Johan Christenson (partner).
Karolinska Development – Jim Van Heusden (CEO).

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• Topics
• Early-stage
• Nordics
• Healthcare
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