Theramir announces the successful closing of its latest funding round

Theramir Limited, a biotech company focused on the development of innovative targeted cancer therapeutics and diagnostics, is pleased to announce the closing of its latest funding round that welcomes two new strategic investors, ASBISc Enterprises Plc and the Lanitis Group.

The new investment will enable Theramir to advance the development of its proprietary therapeutic agents that leverage stem cell-derived extracellular vesicles and microRNAs (miRNAs) for the diagnosis and treatment of cancer. MiRNAs, a novel class of small non-coding RNAs that can regulate simultaneously many genes and pathways involved in cancer development, are emerging as a promising new approach in targeted RNA therapeutics.

The proceeds of the funding will be utilised to complete the preclinical development of the lead therapeutic candidate EVmiRÒ and position the technology for licensing with a pharmaceutical partner, with the aim of entering Phase I clinical trials within the next two years. Furthermore, the move into brand new state-of-the-art R&D facilities and laboratories, housed in the ASBIS High-tech cluster, will enable the company to further expand its portfolio of therapeutic technologies through intensive R&D activities.

Theramir, founded in 2016, has developed a unique technology that employs stem cell-derived extracellular vesicles to deliver customised therapeutic miRNA sequences directly to solid tumors, while sparing healthy non-cancerous tissues. This technology can be adapted to meet the unique needs of each patient and at various stages of the disease, aligning with the principles of personalised medicine. Through cell reprogramming, the company’s proprietary EVmiRÒ platform has been shown to stabilise tumor growth and achieve reversion of cancer cells back to a normal phenotype, a discovery which has the potential to unlock a new era of therapeutic interventions that could significantly impact clinical practices in cancer therapy. The announcement marks a significant milestone for Theramir and demonstrates the strong investor interest in the company's innovative approach to treating cancer disease using miRNA technology.

Dr. Marianna Prokopi-Demetriades, Theramir’s cofounder, noted: “Theramir is a unique biotech company with proprietary technology that has few competitors. The EVmiRÒ platform is a significant breakthrough with tremendous potential in regenerative medicine and cancer treatment, potentially reverting tumor cells to healthy ones. Cancer reversion could revolutionise cancer therapy, profoundly impacting clinical practice. Theramir's partnership with top Cyprus groups, ASBIS and Lanitis, will provide a stronger financial foundation, allowing Theramir to focus on licensing and clinical trials for their targeted therapy. On behalf of the entire team, I would like to express appreciation for the support from ASBIS and the Lanitis Group.”

Serhei Kostevitch, CEO of ASBIS Group, commented: “Theramir is working on a unique technology that may offer a new avenue for the treatment of cancer disease and it definitely needs to be supported with further research and development. I am proud that ASBIS invests in companies that can contribute to new treatments, but also to a significant improvement in the quality of life of cancer patients around the world.”