Glactone Pharma AB, a project company in P.U.L.S, Sweden’s leading life science incubator, has recently issued a new round of shares of 5.5 MSEK for the continued development of their novel drug for the treatment of castration resistant prostate cancer. Glactone Pharma has, since it’s start, met all the set project goals and the new shares shall finance the next phase of the preclinical development.
Glactone Pharma is developing a novel drug for the treatment of late stage prostate cancer, so called castration resistant prostate cancer. The project is based on research that shows that the natural product galiellalactone can inhibit the growth of prostate cancer cells by blocking the signaling protein STAT3. Other studies have shown that STAT3 is over-activated in several other cancer forms.
“We have made great progress during the past year and we have now identified our candidate drug that we are progressing. Our goal is to have in a year from now our compound ready for the safety and toxicology studies required for entering clinical trials”, says Martin Johansson, project manager for Glactone Pharma.
P.U.L.S. is contributing 2 MSEK of the new infusion of 5.5 MSEK in capital, which is meant for continued preclinical development in anticipation for impeding clinical trials. This also includes scale up of the synthesis of the candidate drug and the development of a formulation for oral administration.
“Since STAT3 is over-activated in more types of cancer than prostate cancer this makes Glactone a very interesting project with high potential. The project is still in an early phase, but has the possibility of addressing great unmet medical needs, says Pontus Ottosson”, CEO of P.U.L.S.
For more information, please contact:
Martin Johansson, project manager Glactone Pharma, e-mail: firstname.lastname@example.org
Pontus Ottosson, CEO P.U.L.S., tel: 070-535 9334, or email@example.com.
Glactone Pharma AB is developing a drug for the treatment of castration resistant prostate cancer. Research has shown that the natural product galiellalactone can modulate a signaling protein (STAT3) that is over activated in cancer cells. The goal is to develop drugs against metastasizing cancer where galiellalactone is used as a chemical starting point to make new novel, patentable compounds. Glactone is situated in Helsingborg, Sweden. For more information, please visit www.glactone.com.
P.U.L.S. (Partners for Development Investments in Life Sciences) acts as an incubator and financier for early projects in life science, mainly pharmaceuticals. The goal is to generate attractive projects for the industry to acquire. The company was founded 2002 and this far nin project companies are started of which two successfully have been divested and one terminated. The P.U.L.S. organization consists of an operative part and approximately thirty partners with extensive experience from research, development and commercialization in life science. The business model relies on early engagement and close collaboration with the innovator. P.U.L.S. provides capital and drives the medical and commercial development of the project companies. P.U.L.S. has its headquarters in Helsingborg, Sweden.