A possible cancer treatment that targets the uncontrolled growth of cancer cells gains a boost as a $15m investment sets it up for phase 1 clinical trials.
Enlibrium, a US-based pharmaceutical company, has raised $15m in its series A round from investors including Osage University Partners.
Osage University Partners is a venture capital fund that invests in startup firms which are working towards the commercialisation of university research. It was joined in this round by venture capital firms Avalon Ventures and Correlation Ventures, and private equity firm TPG Biotech.
Enlibrium is researching the use of type 1 diabetes drug metformin as a way to treat cancer. Due to the rapid growth of cancer cells they are more sensitive to disruptions in their energy supply. Metformin has been shown to reduce this energy supply and thus could be a potential treatment for a range of cancer types.
The technology to make this possible has been licensed through University of California Los Angeles.
The funding from this round will be used to take Enlibrium’s potential drugs through phase 1 clinical trials.
