AUTEM THERAPEUTICS RAISE $10 MILLION IN SERIES A-1 FUNDING
Hanover, NH and Sao Paulo, Brazil, June 06, 2022 (GLOBE NEWSWIRE) — Autem Therapeutics LLC (“Autem Therapeutics” or “the Company”), an emerging oncology therapeutic and bioelectrical technology company, announced the closing of its $10 million investment in Series A-1 financing round. The round was led by Zentynel Frontier Investments with participation from other new and existing investors.
The company also announced the appointment of Michael Choukas as Chief Executive Officer. Michael is a life sciences executive and entrepreneur with extensive corporate experience serving in leadership roles in strategic, operational and commercial functions of leading global healthcare companies including United BioSource (UBC), Oncopartners, Vector Oncology, and most recently as President, Outcomes Science and Services at Concerto HealthAI (now ConcertAI). He brings to this role a proven track record of building successful businesses that have contributed over $2.5 billion in market value creation.
Autem Therapeutics is developing a novel bioelectric oncology treatment platform targeting hepatocellular carcinoma (HCC) and other solid tumor cancers. The company has received FDA Breakthrough Designation for the treatment of patients with advanced HCC (liver cancer). The Company’s AutEMsys™ therapy delivers personalized, amplitude-modulated electromagnetic (EM) frequencies to patients systemically. Data from initial clinical feasibility studies involving 66 patients with HCC suggest that amplitude modulated EM frequencies may be effective in shrinking cancerous tumors, improving quality of life, and prolonging survival in patients with early-stage HCC and advanced.
The Series A-1 proceeds will fund the completion of Autem’s next-generation Autemsys™ technology and related testing and validation, U.S. FDA Investigational Device Exemption (IDE) and submissions and European and Latin American regulatory approvals to initiate clinical trials, and the start-up phase of the pivotal HCC trial.
Autem Therapeutics CEO Michael Choukas said, “I am delighted to lead Autem’s global leadership team, which brings together experienced professionals with complementary expertise in clinical practice and oncology research, biophysics, software development and AI, and biopharmaceuticals and medicine. device operations and executive management. “Our team is passionate about developing a non-invasive, non-toxic, and globally accessible cancer treatment to improve the outcomes and lives of cancer patients worldwide.”
Cristian Hernandez, MBE, Zentynel’s lead investment partner, added, “Autem Therapeutics’ technology combines physics, artificial intelligence, biology and medicine to create better cancer treatments. We are proud to empower a company that we believe will radically transform cancer treatment globally and improve the lives of thousands of people who currently have limited treatment options.”
ABOUT AUTEM THERAPEUTIC
Autem Therapeutics is a privately held oncology therapeutic and bioelectric company headquartered in Hanover NH, USA developing a novel non-invasive, non-toxic oncology treatment platform targeting HCC (liver cancer) and other cancers solid tumor.
The company has received breakthrough designation from the FDA for its AutEMsys™ therapy for the treatment of patients with advanced HCC. AutEMsys™ therapy delivers personalized, amplitude-modulated electromagnetic (EM) frequencies (and, based on initial clinical feasibility studies, shows promise for reducing cancerous tumors, improving quality of life, and extending survival in populations of patients with early and late-stage cancer Autem Therapeutics plans to submit an Investigational Device Exemption (IDE) from the FDA to initiate pivotal FDA clinical trials in late 2022 or early 2023.
ABOUT ZENTYNEL FRONTIER INVESTMENTS
Zentynel Frontier Investments is a leading biotechnology and life sciences venture capital fund based in Santiago, Chile, with operations throughout Latin America. Zentynel is focused on leading the next generation of scientific and commercial funds in Latin America. Based on her proven track record, she has assembled a network of world-class partners and advisors to invest in high-quality companies with exceptional biomedical technology products in emerging markets.
Note on forward-looking statements
Statements made in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as anticipate, expect, believe, intend and similar expressions are intended to identify statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as the Company’s ability to raise additional capital and risks relating to the Company’s ability to initiate and to enroll patients in planned clinical trials. You should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update forward-looking statements as a result of new information, future events or developments, except as required by law. The Company’s products and technologies have not received regulatory approval for commercialization and are not commercially available.