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Hofseth Biocare ASA ( (HOFBF) ) has shared an announcement.
AecorBio Inc., formerly HBC Immunology Inc, has secured $1.5 million in equity financing to advance its lead peptide candidate FT-002a for advanced prostate cancer. This funding will support the completion of investigational work and an IND application with the FDA by 2026, marking a significant step towards clinical development. FT-002a offers a novel approach to treating prostate cancer by modulating tumor iron metabolism, with preclinical data showing promising results in reducing tumor volume. The company is also expanding its pipeline with additional preclinical programs, aiming for strategic partnerships with major pharmaceutical companies. Hofseth BioCare ASA retains a significant ownership stake in AecorBio, reflecting investor confidence in the company’s innovative therapeutic platform.
More about Hofseth Biocare ASA
Hofseth BioCare ASA is a Norwegian company focused on sustainability and optimal utilization of natural resources. It specializes in converting salmon industry by-products into health-improving ingredients for humans and pets, such as bioactive peptides, salmon oil, and bone powder. The company emphasizes scientific research and has developed products like ProGo®, OmeGo®, and CalGo® that offer various health benefits. Hofseth BioCare ASA is listed on the Oslo Stock Exchange and has a global presence with branches in multiple cities.
Average Trading Volume: 132,214
Current Market Cap: NOK764.6M
Learn more about HOFBF stock on TipRanks’ Stock Analysis page.