ERYTECH raises €25.4m for development of tumor starvation treatments for acute leukemia

The financing, which was supported by institutional investors in the US and Europe, will support the continued clinical development of the company’s ERY-ASP/GRASPA.

ERY-ASP/GRASPA is designed specifically to treat acute lymphoblastic leukemia (ALL) as a first-line therapy in Europe and the US; as well as for the treatment of Non-Hodgkin lymphoma.

Some of the proceeds will be used the development of new product candidates, including the Phase I clinical trial of ERYTECH’s product candidate, ERY-MET, and the incubation of its tumor vaccination program, ERY-VAX.

The financing will also support the development of ERYTECH’s ERYCAPS platform technology and other pre-clinical development programs.

The company plans to use the rest of the funds for working capital and other general corporate purposes.

ERYTECH Pharma chairman and CEO Gil Beyen said: "The proceeds of this financing will allow us to expand our key clinical and preclinical programs, including the launch of global pivotal trials with our lead product candidate ERY-ASP/GRASPA as a first-line treatment for ALL, and to target the U.S. market.

"This capital increase, with the participation of prominent institutional investors, also strengthens our base of investors in the United States."

ERYTECH Pharma develops new cancer therapies that work by starving tumours. The company’s technology is based on encapsulation of therapeutic compounds into red blood cells.