12 Oct 2005   |   News

Norway’s Algeta to develop cancer therapies

Oslo-based anticancer company Algeta has closed a series A financing round totaling €23 million.

Oslo-based anticancer company Algeta has closed a series A financing round totaling €23 million.

The syndicate of investors includes Selvaag Venture Capital, NorgesInvestor, Marlin Verdi AS and new investors HealthCap, Advent Venture Partners and SR One.

Algeta, founded in 1997 as Anticancer Therapeutic Inventions AS by Rox Hartvig Larsen and Øyvind Sverre Bruland, develops anticancer medicines based on radioactive substances—called alpha-emitters—that are carried to cells by tumour-seeking mechanisms.

The company’s lead product candidate, AlpharadinTM, is currently in Phase II clinical trials as a potential treatment for bone metastases that come from primary prostate cancer.

Further information: www.algeta.no

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