QLi5 Therapeutics Attracts ten million euro in Series A Financing
Development of novel proteasome inhibitors for treating cancer, inflammatory and autoimmune disorders
Qli5 Therapeutics, a German-Korean joint venture developing a new class of proteasome inhibitors, has closed a ten million euro series A financing round with an international consortium of investors including SV Investment, KHAN Technology Transfer Fund I, Atinum Investment and DAOL Investment (former KTB).
QLi5 will use the proceeds to advance its pipeline of highly-differentiated proteasome inhibitors to the start of clinical trials addressing various indications. The proteasome functions as cellular ‘garbage processing facility’ eliminating misfolded, damaged or expired proteins. It is therefore critical to cell survival and presents a compelling target for the treatment of multiple conditions that involve an overproduction of non-functional proteins, including cancer, inflammation and autoimmune diseases.
Based on the leading proteasome expertise of Nobel laureate and company co-founder Prof. Robert Huber and a multi-year collaboration between his lab at the Max Planck Institute for Biochemistry and the Lead Discovery Center (LDC), QLi5 has established a versatile platform for the design of proteasome inhibitors with outstanding selectivity, unique non-covalent binding characteristics and favourable pharmacodynamic properties.
“This new class of proteasome inhibitors has significant advantages over first-generation approaches and opens a wide field of therapeutic applications. We are very much impressed with both, the platform and the progress made so far”, Representative of SV Investment says.
“QLi5 demonstrates what can be achieved when excellent science meets with professional drug discovery and development expertise”, adds Kiyean Nam, CEO and CSO of Qurient, co-founder of QLi5 and long-term strategic partner of the Max-Planck-Society and the LDC.
“We are glad to see the program advance so rapidly and efficiently. With the financing and added management expertise it is well on track to deliver on its promise for many patients who currently lack sufficient treatment options”, says Bert Klebl, CEO of the LDC.
“The commitment of this renowned group of investors highlights the exceptional potential of QLi5’s proteasome programs. I am looking forward to being part of this team of brilliant scientists and drug developers. Together, we are perfectly set to bringing the approach full fruition, medically and commercially”, says Martin Huber, CEO of QLi5.
“The current financing round is straightforwardly enabling new opportunities for treating patients with cancer, inflammation and autoimmune diseases. We are perfectly satisfied, that the groundbreaking work from the Max Planck Institute for Biochemistry, put into experienced hands in industry, lays the foundation for this promising endeavour”, explains Dieter Link, licensing and patent manager at Max Planck Innovation.