Isofol Medical Share Issue Oversubscribed, Securing Over SEK 39 Million to Strengthen the Ongoing Phase II Clinical Development Program of Modufolin®
GOTHENBURG, Sweden, March 17, 2016 /PRNewswire/ --
Isofol Medical AB, a clinical stage pharmaceutical company, developing novel products for unmet needs within oncology, will use the investment to support the clinical program with Modufolin®, Isofol's lead drug candidate. Modufolin® is a novel folate-based compound being developed to increase the efficacy and reduce the side effects of chemotherapeutic agents used in the treatment of solid tumors.
A large number of patients receiving reduced folate treatments as part of their chemotherapy regimens today do not fully benefit from their treatments as the benefit is dependent on a person's ability to metabolize and thereby activate the reduced folate. With limited clinical risks Modufolin® has the potential to replace all reduced folate drugs used today, benefiting all patients irrespective of their capacity to metabolize and therefore activate reduced folates. The reason for this positive effect is that Modufolin® is the key active metabolite of all clinically used folate-based drugs used for cancer treatment today, and therefore does not require metabolic activation.
Reduced folates are part of the core chemotherapy treatment for both colorectal cancer and osteosarcoma, which are the first indications being targeted by Isofol.
"Raising this capital will enable us to continue our important clinical program and demonstrate the real value of Modufolin® for cancer patients. We are including more sites and increasing the enrolment rate of patients in our ongoing Phase I/II trials in both Osteosarcoma and Colorectal Cancer." said Anders Rabbe, Managing Director of Isofol.
Even though several modern chemotherapy drugs have been introduced and provide dramatic effects in the treatment of certain cancers, they have had limited effect on solid tumors.
Modufolin® is currently being evaluated in clinical Phase I/II studies.
About Modufolin®
Modufolin® (chemical name [6R]-5,10-methylenetetrahydrofolate), is a novel folate-based compound developed to increase the efficacy and reduce the side effects of antimetabolites used in cancer treatment. It is the key active metabolite of all clinically used folate-based drugs today including leucovorin and levoleucovorin and therefore does not require metabolic activation.
With limited clinical risks Modufolin® has the potential to replace the folate drugs used today as Modufolin® will be beneficial for all patients irrespective of their capacity to activate folates. Modufolin® is currently being evaluated in clinical Phase I/II studies.
About Isofol Medical AB
Isofol Medical is a clinical stage pharmaceutical company developing novel products for unmet needs within oncology. Isofol's lead clinical candidate is Modufolin®, a novel folate-based compound. Isofol Medical collaborates closely with its strategic R&D partner Merck Millipore, the world's leading manufacturer of reduced folates including leucovorin and levoleucovorin.
Modufolin® is a registered Trademark of Merck KGaA, Darmstadt, Germany.
For more information, please contact:
Anders Rabbe, CEO, Isofol Medical AB
E-mail: anders.rabbe@isofolmedical.com
Phone: +46-(0)707-646-500
SOURCE Isofol Medical AB
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