AbilityPharma is a biopharmaceutical firm established in Barcelona, Spain that develops novel oral autophagy-inducing anticancer drugs. The company has raised €7 million in investment.
Fitalent, CDTI Innvierte, the EIC Fund, Inveready, and the CTI Life Sciences Fund were among the participants in the round.
The money will be used by the business to support its phase 2b clinical trial of the anticancer drug ABTL0812 in pancreatic cancer patients.
Ability Pharmaceuticals is a biopharmaceutical firm led by CEO Carles Domènech that specializes in the discovery of novel oral autophagy-inducing anticancer drugs. With 140 patients enrolled, a Phase 2b clinical trial using ABTL0812 is being conducted for metastatic pancreatic cancer with the goal of proving ABTL0812’s superior efficacy over the conventional medication FOLFIRINOX. Twenty-three hospitals in Spain, the United States, France, and Israel are participating in a double-blind, placebo-controlled, first-line research using FOLFIRINOX. By year’s end, efficacy results are anticipated.
“We are thankful to CTI Life Sciences, Inveready, and the EIC Fund for completing this financing round, and to all of our new and existing investors for their confidence in our team and for their support to our goals,” Carles Domènech said in a statement in response to the news. We will be able to keep up our relentless efforts to provide ABTL0812 to pancreatic cancer patients thanks to this support.
About AbilityPharma
A biopharmaceutical business called AbilityPharma is creating novel, best-in-class cancer treatment prospects. Our research focuses on autophagy as a novel therapeutic approach to specifically cause cancer cells to die. Building upon this unique mode of action, we are developing a portfolio of innovative medications aimed at unmet oncological needs.
A phase 2b double-blind placebo-controlled clinical trial including 140 patients with metastatic pancreatic cancer from the USA, Spain, France, and Israel has concluded with the enrollment of ABTL0812.
