ROS Therapeutics™ raises DKK 10 million in seed financing round
ROS Therapeutics today announces the successful closing of a DKK 10.1 mill. seed financing round with participation of founders, advisors, business angels and other private investors.
Copenhagen, Denmark, July 13, 2018
ROS Therapeutics today announces the successful closing of a DKK 10.1 mill. seed financing round with participation of founders, advisors, business angels and other private investors. ROS Therapeutics will use the new funds to manufacture the active pharmaceutical ingredient of the lead candidate, as well as scale-up activities enabling initiation of formal toxicology studies. Equally important, the new capital will also fund additional comprehensive preclinical animal model testing, as well as ADME studies to further substantiate the preclinical proof of principle.
“We are very pleased with the strong interest from investors in participating in our seed financing round, only weeks after the company formation. This will allow us to commence the work to further strengthen the value and potential of the Targeted-MTX program. The team of advisors among the investors have been of tremendous importance in providing valuable guidance in this critical early phase”, says Hanne Damgaard Jensen, CEO and founder of ROS Therapeutics.
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About Targeted-MTX and Rheumatoid Arthritis
Targeted-MTX has the potential to deliver the well understood clinical benefits of the established “cornerstone” treatment (MTX) for rheumatoid arthritis (RA) without the equally documented debilitating side-effects. We have developed a methotrexate prodrug that is designed for targeted release of the active ingredient at the site of inflammation where high levels of ROS are present.
Targeted-MTX will initially be developed for the treatment of rheumatoid arthritis. RA is an autoimmune disease affecting approximately 0.5% of the world’s population. MTX is the most frequently prescribed medicine for this disease. Due to the narrow therapeutic margin and once-weekly dosing regimen, deaths and life threatening adverse effects are reported frequently due to incorrect dosing. A large proportion of patients are prevented from tolerating the drug in its current form due to side effects such as nausea and vomiting.
About ROS Therapeutics ApS
ROS Therapeutics ApS is a newly established privately owned pharmaceutical drug development company which was founded to develop and commercialize technology spun out from the Technical University of Denmark (DTU). Over the last few months, a very experienced and competent drug/business development team of Advisors and Internal Consultants has joined the company. ROS Therapeutics has just completed a DKK 10 million seed financing round.
Contact ROS Therapeutics:
Hanne Damgaard Jensen – CEO
Tel: + 45 40786888