Glycostem raises capital for phase I/IIa clinical trials

Glycostem Therapeutics BV, a clinical stage and leading Natural Killer-cell company announced in September 2019 that Korean investor, E&F Healthcare Holdings and existing investor LUPUS Ventures B.V. (LUPUS) have invested to fund the next clinical developmental study of the company. Together with the recently awarded Innovation Credit Grant by the Dutch Government (RVO’s Innovation Credit grant) plus various commercial revenues from development partners; Glycostem has funding for the duration of the phase I/IIa trial for its lead product oNKord® in the indications of Acute Meyloid Leukemia (AML) and multiple myoloma (MM).

Troels Jordansen, CEO said “This funding allows us to progress the clinical development of our unique and exciting lead product; oNKord®. It is also a significant step in the treatment with off the-shelf, cellular immunotherapy products in hard-to-treat cancer patients. We would like to welcome E&F Healthcare Holdings as a shareholder. It is the second time LUPUS invests in Glycostem and we are very proud and honour to be working with these two uniquely dynamic shareholders. Since the first investment by LUPUS, Glycostem has met its objectives, reached the milestones and is advancing according to plan. The GMP license (announced 25th June ‘19) will facilitate production of oNKord® for the phase I/IIa clinical trials for our lead product oNKord® in.

Contact:
Troels Jordansen +31 6 1834 5326 - Troels@Glycostem.com - www.Glycostem.com; AML starting early ’20, followed by MM indication 12 months later, is a good example of how fast we have advanced. We have, however, also made great advances on cell yield, automation and setting up our own CAR-NK products