4SC AG raises €41m
Small molecule cancer drug developer 4SC AG (Planegg-Martinsried, Germany) has completed a capital increase fueling development of its clinical programmes for resminostat, 4SC-202 and 4SC-208
The company will raise €41m by offering 11,681,867 shares at €3.50 set to be listed on 13 July. The share capital of 4SC increased by approximately €11,68m to a total of €30,648,513. In 2017, 4SC’s capital raise is amongst the largest equity offerings in the biotech sector in Europe. The capital raised will finance 4SC through 2020. 4SC said it will facilitate the company’s development strategy for resminostat, 4SC-202 and 4SC-208.
Resminostat is an inhibitor of class I, IIb and IV HDACs, currently developed in cutaneous T-cell lymphoma (CTCL), Hodgkin’s lymphoma and lung, colon, pancreatic and biliary tract cancers as well as in hepatocellular cancer in combination with sorafenib. 4SC-202 is a blocker of histone deacetylase (HDAC) 1, 2, 3, and lysine-specific demethylase 1 (LSD1) clinically developed in different types of blood cancer.
4SC-208 is a small molecule targeting two kinases of Hedgehog/GLI signaling pathway downstream of the regulator SMO at the level of GLI. Currently, 4SC is seeking approval for Phase I development of the compound designed to kill cancer stem cells.