apceth Received the Second Round of Funding for Its Innovative Stem Cell-Based Cancer Therapeutic as Part of the m4 Initiative of the Munich Biotech Cluster
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|Monday, 04 February 2013 16:30 (UTC + 1)|
Munich, Germany, February 4, 2013 / B3C newswire / – As of January 2013 apceth has entered the second round of funding for the development of its first cancer therapeutic based on patient’s own modified adult mesenchymal stem cells (MSC) running under the portfolio name Agenmestencel-T.
In December 2012 apceth has successfully concluded the first 2.5-year round of funding through the Federal Ministry of Education and Research (BMBF) for the development of Agenmestencel-T as part of the Munich Biotech Cluster initiative “m4 Personalized Medicine and Targeted Therapies” (Cluster project PM5, FKZ: 16EX1021K).
The Munich Biotech Cluster comprises a rich network of biotech and pharma companies, research institutions and clinical centers in order to promote and expedite the creation of the future orientated personalized and targeted therapy strategies. As the winner of the second round of the “Leading-Edge Cluster Competition” in 2010 the Munich Biotech Cluster has at its disposal a considerable funds granted by BMBF and the Bavarian Government within its “m4 Personalized Medicine and Targeted Therapies” initiative for this ambitious aim.
The second round of funding through BMBF apceth was granted at the end of 2012 as part of the m4 Cluster initiative. With this apceth’s total approved budget for the development of Agenmestencel-T amounted to 4.7 million € within a period of less than five years between July 2010 and March 2015.
Agenmestencel-T is a highly innovative stem cell-based medicinal product for personalized therapy of advanced and/or metastatic cancers. With Agenmestencel-T apceth is committed to provide a novel cell-based cancer drug which will be custom-made for every single patient. Combining the stringent principles of pharmaceutical development with targeted biomarker-based strategies for patient stratification, apceth aims to create the cancer drugs of uppermost quality and safety, while identifying those cancer patients that can mostly benefit from this novel cell therapy.
apceth was founded in 2007 as a start-up company and is privately owned by its founders and private investors.
apceth GmbH & Co. KG
Phone: +49 (0)89-7009 608-0