ARTICLE | Finance

Glionova's head start

Why HealthCap, Novo Seeds backed glioblastoma multiforme play Glionova

November 24, 2014 8:00 AM UTC

Thanks to an ex-industry team working within a research institute, Glionova AB has a head start compared with most academic start-ups, according to new investor HealthCap. HealthCap and Novo Seeds co-led a SEK42 million ($5.7 million) series A round for the newco to develop a preclinical brain cancer compound licensed from the Karolinska Institute.

The cash will allow Glionova to complete preclinical toxicology testing of GLN-1001 in 2015 and start a Phase I or Phase I/II trial to treat glioblastoma multiforme (GBM) at the start of 2016...