Statement from the CEO
During the second quarter of 2018, several key goals for the company were achieved. New patent applications strengthened the Fractalkine project, the board was supplemented with current experience from major pharmaceutical companies and the company was funded for future clinical studies.
The new issue, which gave shareholders preference, yielded approximately 48 MSEK before issue costs. The liquidity will be used primarily for the preparation and implementation of a clinical phase IIa study of KAND567, which is expected to start in the first half of 2019. Payment to guarantors and advisors took the form of units (shares as options) and cash according to a distribution reported under the heading ”The share capital and the share.”
While Kancera’s main resources are now being invested in the Fractalkine project, Kancera’s ongoing work in the ROR1, HDAC6 and PFKFB3 projects is aimed at establishing external collaborations for the further development of these projects in blood cancer (ROR1 inhibitors), ovarian cancer (PFKFB3) and HDAC6-related disease states affecting the brain.
Strengthened by Kancera’s positive preclinical research findings, which show that KAND567 significantly reduces cardiac damage after infarction, and clinical trials that show that active doses can be achieved in humans, we have sought to add skills to the board in the cardiovascular field. We are therefore pleased to welcome Anders Gabrielsen as new board member. He has long experience in drug development and situation analyses in cardiovascular disease from three major pharmaceutical companies, which further strengthens Kancera’s strategy work.
In the Fractalkine project, we developed two product formulations of the clinical drug candidate KAND567 in the spring. These together provide for both oral and intravenous treatment. Intravenous treatment becomes relevant in a Phase II study where KAND567 is delivered directly into the bloodstream to protect the heart when the patient arrives at the hospital after an infarction.
In May, Kancera applied for patent protection for an improved method of manufacturing products based on KAND567. In July we filed a further patent application, this time to protect new antagonists of the fractalkine system. Kancera’s knowledge of these new antagonist properties is already so great that we see good opportunities to select a new drug candidate in the next year. Such a drug candidate would enable us to develop unique products against multiple diseases (such as cardiovascular disease, inflammation and cancer), which in turn strengthens Kancera in the commercialization of the Fractalkine project.
CEO Kancera AB (publ)