Oblique Therapeutics AB, raises 98 MSEK in a private placement investment round

GOTHENBURG, Sweden, Nov. 18, 2020 /PRNewswire/ -- Oblique Therapeutics AB, a privately held Swedish biotech company, announces today that it has received 98 MSEK from new investors and shareholders including several Swedish institutional investors and European venture capital investment firm Sunstone Life Science Ventures after a successful fundraising campaign led by Västra Hamnen Corporate Finance AB.

The financing will enable Oblique Therapeutics AB to further accelerate its antibody pipeline and global expansion.

"This fundraising will allow us to reinforce our position as a global industry leader focused on transformative antibody medicines against pain and aggressive cancer. We are extremely pleased with the positive capital market response, and look with forward to an exciting year in 2021 which could provide Oblique Therapeutics with additional industry validation through a strong interest from global Big Pharma. We are convinced that our rapid pipeline progression, with block buster potential in all current projects, will be highly value creating and welcome all new shareholders to the company." Prof. Owe Orwar, CEO Oblique Therapeutics.

About Abiprot ^TM

Oblique Therapeutics AB has developed Abiprot^TM, a proprietary methodology to identify epitopes on protein targets that have previously proven difficult to address with antibodies. Abiprot^TM can identify high-affinity antibody binding sites in any given protein with single amino acid resolution while the protein resides in its native environment. It is based on using a tailored molecular reporter system and proteomics. The platform yields detailed sequence and structure information for epitope identification and development. Oblique Therapeutics is applying this technology for discovery of selective antibody therapeutics targeting, for example, KRAS for the treatment of cancers and several ion channel targets to treat pain.

About Oblique Therapeutics AB

Oblique Therapeutics AB is a privately held Swedish biotech developing innovative new medicines for severe diseases with a large unmet medical need focusing on pain and aggressive metastatic cancer. The company uses Abiprot^TM, an in-house-invented, next-generation antibody platform that can generate antibodies with programmed function against the full human proteome. https://obliquet.com/

For more information, please contact:

Prof. Owe Orwar, CEO Oblique Therapeutics 

Email: [email protected]

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/oblique-therapeutics-ab/r/oblique-therapeutics-ab--raises-98-msek-in-a-private-placement-investment-round-,c3239393

SOURCE Oblique Therapeutics AB