Lithea, a Lund-based firm engaged on new methods to deal with most cancers by delivering medication immediately into tumours, has efficiently raised €851k from its present traders to proceed growing their drug supply system and put together its lead product, LIT1001, for medical trials.
This follows final week’s announcement of Lithea securing a €27k planning grant from Vinnova underneath the Planning Grant for Worldwide Proposal 2025 programme. The funding will allow the corporate to organize a proposal for the EIC Accelerator Open, specializing in its intratumoral drug-delivery platform for oncology.
“Our expertise has proven very promising ends in animal research, with 92% discount in tumor measurement and far decrease drug ranges in the remainder of the physique in comparison with customary remedy,” stated Ludvig Sjöberg, CEO of Lithea AB. “This funding helps us construct stronger scientific proof and transfer nearer to testing in sufferers.”
The spherical secured by Lithea to advance its tumour-targeted drug-delivery system suits right into a wider European pattern of 2025 oncology and BioTech funding.
In France, Exeliom Biosciences prolonged its Collection A by €2.85 million to speed up most cancers immunotherapy, whereas Swiss corporations resembling NUCLIDIUM AG raised €84 million for a radiopharmaceutical theranostic platform and Hedera Dx secured €15 million to develop its precision molecular diagnostics for oncology.
In contrast with these later-stage rounds, Lithea’s smaller increase displays its earlier growth section but in addition underlines investor confidence in focused drug-delivery applied sciences.
Dr Deepak Raina, CTO and Co-founder of Lithea AB, added: “We’re constructing a platform that mixes precision with flexibility. The CaS/HA system permits us to ship most cancers medicine precisely the place they’re wanted, and we’re enthusiastic about its potential to enhance outcomes for sufferers with difficult-to-treat tumours.”
Based in 2021, Lithea is a PharmaTech firm centered on the event of superior therapies for stable tumour, and with the mission to extend the lives of most cancers sufferers.
Their lead product LIT1001 is a small pellet full of the chemotherapy drug doxorubicin. It’s designed to be positioned immediately into bone tumors, particularly concentrating on osteosarcoma, a uncommon and aggressive most cancers principally affecting youngsters. By delivering the drug straight into the tumor, LIT1001 goals to combat most cancers extra successfully whereas lowering dangerous unwanted effects.
The product has already acquired particular recognition from the U.S. FDA as an Orphan Drug, which helps pace up its growth and approval course of.
Lithea’s platform can be utilized with many kinds of most cancers medicine and will finally be utilized to different widespread cancers like breast, lung, and prostate.
