The KIT spin-off amcure GmbH receives funding of five million euro for the development of new anticancer drugs. The LBBW Venture Capital GmbH in Stuttgart invests in this scientific spin-off. Other investors, such as the KfW-Bank and the Federal Ministry of Education and Research (BMBF), are also participating in the investments.
There is urgent medical need for the treatment of metastasizing kinds of tumors. In the case of pancreatic cancer, an aggressive kind of cancer which is often discovered late, 95 per cent of the patients die within five years of the diagnosis. The KIT spin-off amcure developed tumor drugs which could lower this rate. For the pre-clinical and clinical tests of the drugs amcure now collected a total of five million euro. With this funding, amcure will further develop its product candidate AM001 for the treatment of cancer in the next years and push their active substance forward to the clinical level.
Congratulations on the funding to the team of amcure! We wish you great success for the further development of the tumor medicine!
Extensive press information at: http://www.kit.edu/kit/english/pi_2014_15435.php