One-carbon Therapeutics announces oversubscribed private placement financing of SEK 153 million (€13.9 million)
Solna, Sweden, Dec 1: One-carbon Therapeutics AB, a clinical-stage biotechnology company pioneering first-in-class cancer therapies, announced today the closing of an oversubscribed 153 million SEK (€13.9 million) private placement financing round supported by current and new investors and private Swedish family offices.
One-carbon Therapeutics will use the net proceeds from the private placement to strengthen its financial position and expand its ongoing Phase 1/2 ODIN clinical study of TH9619, an MTHFD1/2 inhibitor, thereby further accelerating its momentum through a data-driven strategy. The financing follows the company’s recent important milestone of dosing the first subject in the ODIN Phase 1/2 study – marking One-carbon Therapeutics’ successful transition from preclinical to clinical-stage company.
“We are very encouraged by the strong confidence and enthusiasm shown by our existing and new investors, who recognize the potential of our lead asset. Their support is crucial for securing rapid execution and delivery of the potential new therapy to patients in need,” said Ana Slipicevic, Chief Executive Officer.
One-carbon Therapeutics also extends its appreciation to clinical and academic collaborators, partners and advisors for their continued trust and partnership, and for their belief in our vision and science. Their support has been instrumental in driving the company’s scientific and clinical progress, enabling the advancement of TH9619.
Selma Legal AB has served as legal adviser to One-carbon Therapeutics AB in the transaction.