Oncopeptides Secures Venture Funding for Phase II Trial of Melflufen in Multiple Myeloma Patients

Stockholm (ots/PRNewswire) -

Oncopeptides AB, a company working to enhance oncology therapies,
today announced the conclusion of a series A financing round intended
to fund the phase II program. HealthCap led the investment with
support from the long-term investor Industrifonden; members of
Oncopeptides' management and Board also participated in the round.

(Logo: http://photos.prnewswire.com/prnh/20130521/613959 )

The investment will finance a phase II clinical program in
multiple myeloma with the novel cytosuperior compound melflufen
(previously known as J1 in peer reviewed journals), an enhanced
cytotoxic alkylating agent based on melphalan.

In association with the investment, Per Samuelsson and Johan
Christenson from HealthCap have joined Oncopeptides' Board of
Directors. Commenting on the investment, Johan Christenson said:
"Cytotoxics are a key component of most cancer pharma-therapy
regimens and any efficacy improvement in this class of drugs will
represent benefits for a broad range of patient groups. Oncopeptides
is one of the leaders in this field and HealthCap is pleased to be
supporting the Company as melflufen moves into the clinic."

Commenting on the investment, the Company's CEO Jakob Lindberg
stated: "Securing the necessary funding for this study marks the
beginning of an exciting phase for Oncopeptides as the lead compound
moves to demonstrate its clinical value in multiple myeloma patients.
This area still suffers from a large unmet medical need."

The phase II trial is an efficacy signal seeking study in 35-50
patients with primary endpoints focused around efficacy parameters.
Patient recruitment commences Q2 of 2013 across four centers in
Europe (the Netherlands, Italy, Denmark and Sweden) and two in the
USA, with Dana-Farber Cancer Institute being the lead investigator
site. The target population will be relapsing and
relapsing/refractory multiple myeloma patients. Study read-out is
expected late 2014.

About Oncopeptides AB

Oncopeptides is a clinical stage pharmaceutical development
company working to enhance oncology therapies, by creating
cytosuperiors of existing basic cytotoxic compounds.

Oncopeptides is targeting multiple myeloma as a first indication
with its lead compound, named melflufen which is a cytosuperior of
the chemotherapeutic alkylator melphalan.

A family of enzymes that is overexpressed at very high levels in
cancer cells, such as multiple myeloma cells, cleaves melflufen so
its active metabolite is entrapped at high concentrations within the
diseased cells. This results in partially targeted delivery of the
chemotherapeutic compound to the cancer cells, and thereby better
treatment of the disease.

For further information please contact:
Oncopeptides AB
Jakob Lindberg CEO
Tel: +46(0)705-695-471
email: jakob.lindberg@oncopeptides.se
Web: http://www.oncopeptides.se

Photo:
http://photos.prnewswire.com/prnh/20130521/613959

ots Originaltext: Oncopeptides AB
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