Aprea AB (Sweden) - Dec 2007

unquote
01 December 2007

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Industrifonden has invested SKr25m in Aprea AB, a Swedish developer of cancer drugs. Existing investors, Karolinska Development, Östersjöstiftelsen (The Baltic Foundation) and Praktikerinvest have also participated in the round. In total the company has raised SKr 50m. The funding will be used to finance further pre-clinical studies of the substance. The scientists behind the cancer drug development acted as the largest incentive for the investors to back the business. These scientists have developed a solid framework and documentation of the studies that attracted the investors to the deal. The transaction has a high-risk profile, but if the drug is successful, it will mark a significant breakthrough in cancer treatment.

Company

Founded in 2003 and based in Karolinska Institute Science Park, Solna, Aprea is developing a treatment for the most serious and difficult forms of cancer. These types of cancer are cause by the failure of the body’s own immune system to function properly. Aprea aims to develop a drug that restores the protein – known as p53 – that protects the body against cancer. The drug has so far only been tested on animals, but is expected to be tested on humans within a year.

People

Industrifonden investment manager Hedvig Andersén, has been involved in the deal process. Andersén is in the process of changing jobs, and Industrifonden will appoint a replacement to join the board of directors. Industrifonden controller Lars Henriksson has also worked on the deal. Hans-Peter Ekre, an investment manager at Karolinska Development holds a seat on the board. Claes Post is the CEO of Aprea.

Sourced from: Nordic unquote" 69 (Jan 2008)