Immunotherapy developer Ultimovacs secures $5.9m

Jan 23, 2015 •

Norway-based Ultimovacs raised the funding through a share placement to investors including corporates Canica and Sundt.

Norway-based pharmaceutical company Ultimovacs raised NOK 45m ($5.9m) today from a share placement to new investors including retail chain Canica and construction firm Sundt.

Founded in 2011, Ultimovacs is developing technology from Norwegian Radium Hospital that could potentially control the immune system to help it recognise and kill cancer cells. The funding will be used to further develop its leading product, UV1, a therapeutic cancer vaccine.

Existing shareholders in Ultimovacs include investment firm Gjelsten Holding, Norwegian Radium Hospital Research Foundation…

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