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Oncopeptides raises SEK 100 million after brain cancer breakthrough

Swedish biotech Oncopeptides is raising SEK 100 million through a directed share issue. The announcement comes days after the company reported progress with its peptide-drug conjugate (PDC) platform in a new area: glioblastoma.
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Last week, Oncopeptides reported results from the first patients in the INSULA study, which is being conducted at Oslo University Hospital. The company describes it as the first clinical study to test a PDC drug in glioblastoma, an aggressive form of brain cancer.

The study uses the company’s drug melflufen, which is already approved by the European Medicines Agency (EMA) for another indication, multiple myeloma.

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