Molecure - Ramp-up in preparation for busy clinical year
In preparation for Molecure’s forthcoming clinical and preclinical R&D activities, management has secured (secondary) financing with a gross value of around PLN50m (c $12m). The Phase II trial for OATD-01, which was recently FDA approved for clinical studies as an Investigational New Drug (IND), is top priority. The company will seek EMA approval in the coming weeks so that it can proceed with Phase II studies in both the US and EU in parallel. It will also employ the proceeds to support the ongoing Phase I trial of OATD-02 in patients with solid tumours (updates expected in H223), and intensify efforts on its early-stage programmes, specifically focused on small molecule drug candidates designed to modulate underexplored protein targets and the function of mRNA. We view the capital raise as a positive development in light of the challenging macro environment.OncoArendi Therapeutics SA (OAT) is a Poland-based biopharmaceutical company dedicated to discovering, developing and commercializing therapeutics for neoplastic and inflammatory diseases. The Companys business model is strictly focused on drug discovery and development, with its core strength in medicinal chemistry and preclinical biology, enhanced by scientific collaborations with the key opinion leaders in specific disease areas.
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