Cancer Drug-Developer Elthera Wins EUR 2.5m Funding to Start Trials
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Elthera AG, which is developing novel drugs to treat ovarian and pancreatic cancers, received funding from the European Union's Horizon 2020 program. Co-founder and CEO Anne Schmidt outlines her startup's next steps in our interview.
What is Elthera's mission and main innovation?
Elthera aims to provide first-in-class therapies for cancer patients with highly malignant tumors. We are developing an antibody-based therapy against the novel target L1CAM.
What perspectives will this Horizon 2020 funding open for your startup?
The Horizon 2020 funding allows us to start important activities of the compound manufacturing right away. These activities are on the critical path for the entire project and the Horizon 2020 grant allows us to bring our therapy to the patients as fast as possible.
How do you see your next steps to your development?
In summer we will have characterized the clinical candidate molecule for clinical trials, and will then – thanks to the H2020 funds – seamlessly start developmenting the manufacturing process. In parallel we will finalize the development of the companion diagnostic method that allows us to identify the patients with our target molecule L1CAM on their tumors and who are therefore likely respond to treatment.
You won Venture Leaders Life Sciences in 2018 and Elthera ranked at the TOP 100 Swiss Startup Award last year. How did these programs help you to get to where you are today?
All the awards we have received and the programs we have participated helped us to profile Elthera and to increase visibility. It is also a great validation of our approach and business idea, and certainly also help in getting the H2020 funding.
Elthera was among 68 companies, from 1,848 applicants, to win funding, the Zurich-based startup said in a press release.
