TME Pharma N.V. (Euronext Growth Paris: ALTME), a clinical-stage biotechnology company, successfully concluded its fundraising effort initiated on August 25th. The company received an additional €500,000 on August 28th, supplementing the €1.7 million raised in May.
This brings TME Pharma’s total cash position to €2.35 million. The company attributes this strong financial standing to its newly implemented cost-efficient organizational model.
The improved financial position allows TME Pharma to actively pursue partnerships and continue development of its novel therapies for cancer and eye diseases. The company remains optimistic about the prospects of its NOX-A12 and NOX-E36 programs. TME Pharma plans to provide regular market updates on its progress.
Diede van den Ouden, CEO of TME Pharma, will continue to oversee the company’s treasury investment strategy. This strategy aims to balance risk and reward to maximize returns for shareholders. The company is exploring opportunities in crypto and crypto-related assets for its investment strategy, but currently holds no such investments.
TME Pharma is a clinical-stage biotechnology company focused on developing innovative therapies for cancer and eye diseases. Its lead compounds target the tumor microenvironment (TME) and the cancer immunity cycle.
NOX-A12 (olaptesed pegol), an anti-CXCL12 L-RNA aptamer, is undergoing a Phase 1/2 clinical trial (GLORIA) in newly diagnosed brain cancer patients ineligible for standard chemotherapy. The US FDA and German BfArM have approved a Phase 2 trial design for glioblastoma. NOX-A12 has received Fast Track Designation from the FDA for use with radiotherapy and bevacizumab in treating glioblastoma and orphan drug designation for glioblastoma in the United States and glioma in Europe.
NOX-E36 (emapticap pegol), an L-RNA aptamer inhibiting CCL2 and related chemokines, is being evaluated for ophthalmic diseases requiring well-tolerated anti-fibrotic therapies.
Under CEO Diede van den Ouden’s leadership, TME Pharma is strategically restructuring to maximize the value of NOX-A12 and NOX-E36. This includes securing funding from diverse sources, pursuing opportunities for stable cash flow, leveraging tax loss carry forwards, and exploring digital asset exposure.
The GLORIA study (NCT04121455) is a Phase 1/2 trial evaluating NOX-A12 with radiotherapy in glioblastoma patients. The OPTIMUS study (NCT04901741) is a planned Phase 2 trial exploring NOX-A12 in combination with other therapies for metastatic pancreatic cancer.
TME Pharma acknowledges that forward-looking statements are subject to inherent uncertainties and risks. Actual results may differ due to various factors, including those related to drug development and regulatory approvals.
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