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WeFund Health is proud to announce that another startup utilizing the platform successfully completed their Series A round of financing.  The successful close took place off of the platform and was a direct result of a strong and collaborative fundraising campaign that included marketing and consulting activities to support and advance the company’s strategic roadmap.  Notable investors that participated in the round included Norma Investments, represented by businessman Roman Abramovich, and Pharmstandard International S.A., a venture arm of the largest Russian pharmaceutical company based in Luxembourg.

OncoTartis Inc., is a Buffalo-based biotechnology company researching and developing novel anti-cancer drug treatments. The $6 million in funding will be used to support the first phase of clinical trials for their lead drug, OT-82.

The discovery of OT-82 was a combination of OncoTartis’ R&D program focusing on tissue-specific drugs and the efforts of Roswell Park Institute’s network of researchers and advisors from all over the world dedicated to the hematological oncology field. The breakthrough determined that OT-82 has high selectivity for blood cancers that result in a clearly-defined development path with addressable use cases for adults and children.

Preliminary studies have shown that OT-82 can be isolated for its selective toxicity for a number of blood cancers. According to OncoTartis, the drug candidate – a Nicotinamide phosphoribosyltransferase (NAMPT) inhibitor, has demonstrated high efficacy in a variety of pre-clinical in vivo and ex vivo models of leukemias and lymphomas. Additionally, it has a favorable safety profile devoid of the toxicity previously reported in agents of this class, with a broader therapeutic window.

Givi Topchishvili, Managing Partner of WeFund Health, said in a statement, “We are thrilled with the news of OncoTartis’ successful fundraise. We are big believers in the merits of their academic achievements and are proud to have helped them in their pursuit of early-stage clinical trial funding.” Mr. Topchishvili further added, “ This is a significant development in the fact that OT-82 can potentially become a first-in-class drug that specifically targets a wide range of malignancies. The coming studies will take time to complete but this opens the door to new possibilities in the world of anti-cancer therapeutics. We endorse the vision of OncoTartis and wish them the best of luck over the next few months.”

About OncoTartis

OncoTartis, Inc. is a private biotechnology company established in 2011.  The Company’s founding IP came from the laboratory of Prof. Andrei Gudkov at the Roswell Park Cancer Institute (Buffalo, NY). OncoTartis has built a strong international team of c­­ollaborators, including cancer biologists from the Roswell Park Cancer Institute, unique animal models experts from the Children’s Cancer Institute of Australia, and medicinal chemists from Russia.  Prior to the latest fundraising round, the Company’s work was funded by BioProcess Capital Ventures, a VC firm from Moscow, Russia.

Image source: https://gmpnews.net/2017/12/oncotartis-will-develop-a-fundamentally-new-oncological-drug/

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