Laevoroc Oncology Emerges from Stealth Mode Announcing Seed Financing and Acquisition of Worldwide Patents to Oral Gemcitabine Prodrug
Summary
ZUG, Switzerland, May 11, 2021 /PRNewswire/ -- Laevoroc Oncology (Laevoroc or the company), a privately owned, Swiss oncology development group of companies, launched today announcing successful completion of seed financing with private and individual investors, raising over USD 1.1 million. The Company also announces the acquisition of worldwide patents (excluding China) for an oral prodrug form of gemcitabine, one of the most important chemotherapy agents worldwide.Laevorocs co-founder and CEO, Thomas Mehrling MD PhD, said, "This is the start of our journey to leverage leading-edge technologies, our oncology expertise and extensive R&D and commercial experience, to approach innovation in cancer therapeutics in a way that combines the pragmatic with the visionary. "The company is pursuing an asset-centric business model, with three subsidiaries, each containing a major oncology asset, collectively building a pipeline that spans breakthrough innovation through to re-imagining approved therapies: Laevoroc Chemotherapy, which is progressing LR 06 (a patented oral gemcitabine prodrug for maintenance therapy in pancreatic, ovarian and breast cancers); Laevoroc Immunology, which is progressing LR09 (for treating relapse of leukemia following bone marrow transplantation) and a third subsidiary, which will be the core of the company and within which Laevoroc is building a pipeline of innovative drugs addressing brain cancers, including LR02, a first in class central nervous system ATR inhibitor.Laevorocs co-founder and CSO, Davide Guggi PhD, said, "With our asset-focused approach, we can concentrate our resources and tailored investments to bring game-changing therapies to patients living with cancer. Our innovations include delivering cancer therapies that provide a low healthcare system burden, and a low patient burden, as well as breaking down the barriers to beating brain cancer. The company is pursuing an asset-centric business model with three subsidiaries (chemotherapy, immunology and neuro-oncology) covering a pipeline that spans breakthrough innovation through to re-imagining approved therapies.The company, formerly known as TNT-Medical Corporation (AG), has raised over USD 1.1m in seed finance and is actively raising Series A financing for each of its subsidiaries.