Arjuna Therapeutics Opens €1.2M Round to Make Progress Against Cancer

Arjuna Therapeutics, looking for capital to grow. The Spanish company spun out of the University of Santiago de Compostela has opened a €1.2 million financing round to complete advanced clinical, toxicology, and industrial production models of its cancer technology.

The company is developing a novel family of cancer treatments that penetrate tumors, including the brain, and circumvent cancer resistance with minimal side effects. Arjuna Therapeutics focuses on the phenotype rather than genotype.

Ag5, Arjuna Therapeutics’ first drug, targets tumor cells that generate high levels of reactive oxygen species, a very large group that accounts for 25% of all cancers, including pancreatic cancer.

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The Spanish company is also developing a second drug, called Ag3

Arjuna Therapeutics’ technology makes it possible to obtain small clusters of atoms in industrial quantities. This type of molecule is difficult to replicate.

Arjuna Therapeutics is developing a second drug, called Ag3 Arjuna Therapeutics has applied for two patent families to date, protecting the therapeutic use of two specific TMC (Therapeutic Molecular Clusters) molecules in multiple medical conditions and the use of TMC alone or in combination for sensitization to radiotherapy.

The current round will enable Arjuna Therapeutics to carry out its developments and later open a new round of financing on an international scale. The round is expected to be attended by the Arjuna Therapeutics team, investors from its partner company Nanogap, which develops nanomaterials for different industries, as well as other investors.

The scientific work behind Arjuna Therapeutics was done in the lab of Professor Fernando Dominguez at the University of Santiago de Compostela and then developed by Nanogap. Ross Breckenridge was hired as CEO in 2019.

Arjuna Therapeutics will cover the round with the internal team, Nanogap partners, and other investors

Breckenridge holds a PhD in Molecular Cardiology from the University of Cambridge. The executive served on the board of directors of Reva Medical, a California-based medical device company, from 2013 to 2018. In 2016, Breckenridge moved to San Francisco to serve as CEO of biotech Silver Creek Pharmaceuticals.

The company’s board includes Spaniard Javier Rivela, who is the CEO of Pangaea Oncology. Rivela has more than ten years of investment banking experience and was co-head of the research team at ING European Small&Mid Cap. Also on the board is Tatiana Lopez, CEO of Nanogap.

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(Featured image by PDPics via Pixabay)

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