OncoTartis Inc., an American subsidiary of OncoTartis, a resident of SKOLKOVO, raised $6 million to develop a drug for the treatment of acute leukemia.
The investments in the company were made by Norma Investments of Roman Abramovich and Pharmstandard International, a subsidiary of Pharmstandard.
According to Kirill Kaem, Senior Vice-President for Innovation at SKOLKOVO Foundation, this is “not only about a fundamentally new drug, but also about establishing an absolutely new platform for developing new classes of medicinal products.”
The company plans to use the funds received from investors for conducting Phase I clinical trials. They will start in the USA in mid-2018 and will continue for about two and a half years. OT-82 has already proved to be effective when tested in animals. Moreover, this was the case not only for the treatment of leukemia, but also in a wide range of hematological cancers. The results of clinical trials that will involve the patients with different oncological blood diseases will help to draw final conclusions on the use of the drug.
The project is implemented under a “two country” business model, in which OncoTartis LLC and OncoTartis Inc. jointly develop the drug for Russian and American markets.
“After receiving good data in preclinical studies, the company focused its current efforts on drug-resistant forms of acute leukemia. In the future, the expected success of the clinical phases of studies will allow to expand the use of the platform and start the development of medicinal products for new targets. The involvement of investor with high industry competencies confirms that the platform is very promising,” said Kirill Kaem.