AecorBio raises $1.5m to advance prostate cancer therapy

AecorBio Inc. has completed an equity financing round, securing $1.5 million from investors at a company valuation of $30 million. This funding will support investigational work for FT-002a, its lead peptide candidate for advanced prostate cancer. The company aims for an Investigational New Drug (IND) application with the U.S. FDA in 2026. This IND filing is a critical step towards clinical development for FT-002a as a co-therapy.

FT-002a is a first-in-class peptide designed to reset tumor iron metabolism, addressing a market for resistant prostate cancer exceeding $2.5 bn annually, within a total ARPI market over $10 bn. Preclinical data showed FT-002a orally delivered achieved an 80% reduction in tumor volume when co-administered with enzalutamide in animal models of resistant prostate cancer, and up to 97% reduction in hormone-sensitive cases.

Hofseth BioCare ASA retains approximately 67.5% ownership in AecorBio Inc. after this transaction. Hofseth BioCare expects to record an NOK 8 million gain in financial income in Q3 2025.