Hemispherian raises seed funding for novel cancer therapeutics

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May 03, 2022, 03:00 ET

OSLO, Norway, May 3, 2022 /PRNewswire/ -- Hemispherian AS ("Hemispherian" or the "Company"), a Norwegian preclinical pharmaceutical company focused on small molecule cancer therapeutics targeting the DNA damage response, is delighted to announce the closure of its successful seed financing. The oversubscribed round raised NOK 12.5M (USD 1.4M). The proceeds will support the company's drug development activities, expand its preclinical pipeline and move its lead therapeutic compounds towards clinical development.

The round was led by the Dutch Investment Firm, Meneldor, who partnered with Norwegian and American investors. Hemispherian AS welcomes new board members Paul Lelieveld, Wolfram Eichner, and Frode Vartdal. These members will join Steven Powell, Dallas Hack and Masha Strømme to lead the company's preclinical and clinical ambitions.

"We are excited by Hemispherian's intriguing approach to target a novel mechanism that results in selective cancer toxicity. We look forward to working with the Hemispherian team to expand their drug pipeline and advance their lead assets toward the clinic."
- Paul Lelieveld, Meneldor Co-Founder

About Hemispherian AS

Hemispherian is an innovative pharmaceutical company focused on developing a novel class of small molecule drugs (GLIX). GLIX compounds target the TET2 enzyme and activate the DNA damage response resulting in cancer cell death. The company's lead compound, GLIX1, is in late-stage preclinical development for the treatment of glioblastoma multiforme, a deadly cancer of the central nervous system and the leading cause of death by disease in children. Hemispherian is further focused on developing a companion diagnostic tool to support patient selection for optimal therapeutic response to GLIX1. Hemispherian is based in Oslo, Norway. For more information, visit www.hemispherian.com.

About Meneldor

Meneldor, based in the Netherlands, invests in early-stage Western European biotech and pharmaceutical companies. Meneldor is focussed on companies that develop new biological or chemical molecular entities, that address a significant unmet medical need. Hemispherian will be Meneldor's sixth portfolio company and first investment of 2022.

Contact:

Zeno Albisser, CEO
Gaustadalléen 21
0349 Oslo
[email protected]
+47 406 03 455

SOURCE Hemispherian AS