Monopar acquires cancer candidate from Gem, raises $9.7M
Cancer company Monopar Therapeutics Inc. (Northbrook, Ill.) said it acquired candidates including GPX-150 from Gem Pharmaceuticals LLC (Pelham, Ala.) and closed $9.7 million in financing. Gem invested $5 million. Monopar raised the remainder in two private placements completed in March and August. Investors in the private placements included Hendriks Holdings Co. and undisclosed family offices.
GPX-150, a non-cardiotoxic anthracycline derivative compound, completed a Phase II study in early 2017 as a first-line treatment for metastatic and non-resectable soft tissue sarcoma (STS). In the 22-patient trial, Monopar said GPX-150 showed a superior safety profile to doxorubicin and similar anticancer efficacy in STS, according to an SEC filing (see BioCentury, June 20, 2016)...