Actuate Therapeutics in the News Again
Actuate Therapeutics raises an additional $6.5 Million in a Series B-3 financing round.
Actuate Therapeutics, a private biopharmaceutical company founded in 2015 as a UIC and Northwestern spinout, adds an additional $6.5 Million during the close of a Series B-3 financing round. According to Biospace, “Actuate will use the proceeds of the financing to initiate a separate Phase 2 clinical trial in myelofibrosis and expand the company’s ongoing 1801 clinical trial to include an arm for treating patients with a combination of 9-ING-41 with irinotecan”.
Actuate achieved a major milestone this past May when they raised $21.7 Million in Series B financing to continue its ongoing 1801 clinical trial on the use of 9-ING-41as an adjunctive cancer therapeutic. The additional funding generated at the completion of this round with help Actuate to expand clinical trials and initiate Phase II trials in myelofibrosis.
Biospace quoted Daniel Schmitt, President & CEO of Actuate : “We are very pleased with the progress we are making in the clinic with the 1801 study, and the promise of the myelofibrosis and neuroblastoma trials which we expect to initiate early in 2020”. “We are also pleased with the ongoing support of our investors in the Series B financing, which allows us to continue this important and promising work”.
This significant development opens two additional clinical indications for the 9-ING-41drug- a UIC College of Pharmacy invention.
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