The company also announced the appointment of Michael Choukas as Chief Executive Officer
AUTEM THERAPEUTICS RAISES $10 MILLION SERIES A-1 FINANCING. (Credit: PublicDomainPictures from Pixabay)
Autem Therapeutics LLC (“Autem Therapeutics” or “the Company”), an emerging oncology therapeutic and bioelectric technology company, has announced the completion of its $10 million Series A-1 financing round. The round was led by Zentynel
Frontier Investments with other new and existing investors participating.
The company also announced the appointment of Michael Choukas as Chief Executive Officer. Michael is a life sciences executive and entrepreneur with broad enterprise experience serving in leadership roles across the 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 the role a proven track record of success building companies that have contributed to over $2.5BN 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 advanced HCC (liver cancer) patients. The Company’s AutEMsys™ therapy delivers personalized, amplitude-modulated electromagnetic (EM) frequencies to patients systemically. Data from initial clinical feasibility studies involving 66 HCC patients suggest that amplitude modulated EM frequencies may be effective in shrinking cancerous tumors, enhancing quality of life and extending survival in patients with early and advanced stage HCC.
Proceeds from the Series A-1 round will fund the completion of Autem’s next generation AutEMsys™ technology and related testing and validation, the US FDA Investigational Device Exemption (IDE) and European and Latin American regulatory submissions and approvals to initiate clinical trials, and the start-up phase of the HCC pivotal trial.
Autem Therapeutics’ CEO, Michael Choukas stated: “I’m excited to lead Autem’s global management team which brings together experienced professionals with complementary expertise in oncology clinical practice and research, bio-physics, software development and AI, and bio-pharmaceutical and medical device operations and executive management.”
“Our team is passionate about developing a non-invasive, non-toxic, globally accessible cancer treatment to enhance the outcomes and lives of cancer patients worldwide”.
Cristian Hernandez, MBE, Zentynel’s partner leading the investment 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”.
Source: Company Press Release