AbilityPharma receives 1.6 million from the FDA

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bilityPharma has received a 1.6 million euro grant from the U.S. Food and Drug Administration (FDA) to fund its research into a treatment for pancreatic cancer, based on the development of a new antitumor compound.

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Based in Cerdanyola del Vallès, the biopharmaceutical company has entered the final stage of its investment round, with which it will raise a total of 9.2 million euros this year, after obtaining five million in March from the Horizon 2020 Pilot Program, European Innovation Council (EIC) and Accelerator.

The company, specialized in the development of oral anticancer compounds, has also launched a campaign to raise 1.6 million euros on the Capital Cell platform and is finalizing the signing of an agreement with an international industrial partner, which plans to contribute one million dollars for the research of this treatment.

With these investments, AbilityPharma accelerates the process to advance the validation of its new research molecule, ABTL0812, capable of inducing selective autophagy of cancer cells without affecting healthy cells. The molecule has been positively tested in phase 2 clinical trials, as a first-line therapy in patients with endometrial cancer and squamous cell lung cancer.

The biopharmaceutical's next step is to conduct a phase 2 clinical trial in pancreatic cancer. Once this trial is completed, in two years, the goal is to establish a licensing agreement with a multinational pharmaceutical company to continue developing the molecule, so that it reaches pancreatic cancer patients in 2024 and continues to expand it for other types of cancer.