Oncorena Closes Successful Share Issuance for Future Studies
Oncorena's Successful Share Subscription
Today marks a significant milestone for Oncorena as the company announces that their recent share issuance has been fully subscribed. The total capital raised amounts to an impressive 133 million SEK, approximately 13.9 million USD. This funding is earmarked for advancing the second phase of the clinical study Oncorella-1, which focuses on the investigational drug ONC175.
Understanding the Oncorella-1 Study
The Oncorella-1 study is a critical phase 1/2 clinical trial. It aims to evaluate the safety, tolerability, and anti-tumor efficacy of ONC175 specifically for patients grappling with metastatic clear cell or papillary renal cell carcinoma. With part A of the study already concluded, part B plans to enroll around 20 patients with mRCC on hemodialysis. This phase seeks to define the dosage regimen for a more extensive pivotal study.
Investors Supporting Oncorena's Vision
CEO Börje Haraldsson expressed gratitude towards the majority stakeholders—HealthCap, Linc, and FSG, alongside several smaller shareholders—for their robust backing. The support from these investors, key opinion leaders, and patients reassures Oncorena in its commitment to develop this groundbreaking therapy for individuals with pressing medical needs. There is optimism that data from the study will shed light on the efficacy of ONC175 in the coming year.
About ONC175
ONC175 represents a promising investigational drug that utilizes synthetically produced orellanine as its active component. Notably, orellanine holds a peculiar specificity for renal tissues and induces irreversible renal failure without impacting other organs. Early preclinical studies have demonstrated ONC175's capacity to effectively target and eradicate metastatic renal cancer cells, aiming to offer hope to those with no remaining kidney function, particularly patients on dialysis.
The Urgent Need for Effective Kidney Cancer Treatments
Globally, kidney cancer affects approximately 400,000 individuals, with a more favorable prognosis associated with early detection and surgical intervention. However, in cases involving metastases, the outlook becomes considerably less optimistic. Current treatments comprise various targeted and immuno-oncological drugs, but few provide a curative effect. This gap highlights an urgent medical need for innovative and safe treatment options.
Oncorena’s Commitment to Advancing Treatment Options
Based in Lund, Oncorena AB is pioneering the development of new therapeutic approaches for metastatic renal cancer. With its foundation resting upon the groundbreaking research led by Professor Börje Haraldsson at the University of Gothenburg, Oncorena's initiatives have been fortified through partnerships with institutions such as Vinnova and GU Ventures, alongside private investors. This collaboration underscores the innovative landscape of Oncorena's work in the field of renal cancer.
Connect with Oncorena for More Information
For inquiries and further details, Börje Haraldsson, M.D., Ph.D., serves as the CEO and CSO of Oncorena AB. Interested parties can reach out via phone at +46 70 267 9544 or explore Oncorena's advancements and developments through their website.
Frequently Asked Questions
What is Oncorena's recent funding amount?
Oncorena successfully raised 133 million SEK (about 13.9 million USD) through a fully subscribed share issuance.
What is the purpose of the Oncorella-1 study?
The Oncorella-1 study aims to evaluate the safety and efficacy of the drug ONC175 for patients with metastatic renal cell carcinoma.
Who are Oncorena's major investors?
The majority stakeholders in Oncorena include HealthCap, Linc, and FSG.
What is ONC175?
ONC175 is an investigational drug with the active ingredient orellanine, specifically formulated for treating kidney cancer.
What is the global impact of kidney cancer?
Kidney cancer affects around 400,000 patients worldwide, with a pressing need for effective treatments, especially for advanced cases.
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