Cypriot Startup Theramir that fights cancer, raises €1.2 million

The sum of €1.2 million was recently raised by Theramir Limited, the Cypriot biotech startup focused on the development of innovative targeted therapeutics and diagnostics for cancer. The new funding round was led by ASBISc Enterprises Plc and Laniti Group.

As noted in the company’s announcement, the new capital will allow Theramir to advance the development of its innovative therapeutic agents that utilize stem cell-derived cellular nanoparticles and include microRNAs (miRNAs) for the diagnosis and treatment of cancer. miRNAs, a new class of small non-coding RNAs can simultaneously regulate many genes and biological pathways involved in cancer development, and have emerged in recent years as a promising new approach to RNA-targeted therapy.

The funding will be used to complete preclinical development of the EVmiRÒ therapeutic platform and prepare the technology for licensing, with the goal of initiating Phase I clinical trials within the next two years. In addition, the move to brand new state-of-the-art facilities and R&D laboratories, housed in the high-tech ASBIS complex, will enable the company to further expand its portfolio of therapeutic technologies through intensive research activities.

Theramir, founded in 2016, has developed a unique technology that uses stem cell-derived extracellular nanovesicles to deliver personalized therapeutic miRNA sequences directly to solid tumors while protecting healthy non-cancerous tissues. This technology can be tailored to meet the unique needs of each patient and at different stages of the disease, aligning with the principles of personalized medicine.

Through cell reprogramming, the EVmiRÒ platform has been shown to stabilize tumor growth and achieve the return of cancer cells to a normal phenotype, a discovery that has the potential to unlock a new era of therapeutic interventions that could significantly impact future clinical practices in the treatment of cancer. The announcement marks a significant milestone for Theramir and demonstrates strong investor interest in the company’s innovative approach to treating cancer using its innovative miRNA technology.

Dr. Marianna Prokopi-Dimitriadis, co-founder of Theramir, said: “Theramir is a unique biotechnology company with a proprietary technology that has few competitors. The EVmiRÒ platform is a breakthrough with huge potential in regenerative medicine and cancer treatment, potentially by turning cancer cells back into healthy ones. Reversing the cancer phenotype could revolutionize cancer therapy, profoundly influencing clinical practice. Theramir’s partnership with leading Cypriot groups such as ASBIS and the Lanitis Group will provide a stronger financial footing, allowing Theramir to focus on licensing and clinical trials for its targeted therapy. On behalf of the entire team, I would like to express my appreciation for the support from ASBIS and the Lanitis Group.”