Hemispherian Raises First Tranche of Series A to Fund the Development of its Novel Cancer Therapeutics
Hemispherian AS, a Norwegian preclinical pharmaceutical company focused on small molecule cancer therapeutics targeting the DNA damage response, is delighted to announce the closure of the first tranche of its series A1 funding round. The round raised NOK 30M (USD 2.9M). The proceeds will support the company’s drug development activities, expand its preclinical pipeline and advance its lead therapeutic compounds towards clinical development.
The Hemispherian funding round was led by the Dutch Investment Firm, Meneldor, who partnered with Norwegian and American investors. Among the Norwegian investors are Kistefos AS and Kvantia AS. Most of the earlier investors followed their seed investment, and the board chaired by Steven Powell, remains unchanged.
“Hemispherian continues to accelerate its clinical ambitions and we are pleased to continue our support of Hemispherian’s selective anti-cancer pharmaceutical pipeline. This funding will support preclinical development of GLIX1 and GLIX5, the company’s lead assets,” says Paul Lelieveld, Meneldor Co-Founder.