AecorBio Inc., formerly known as HBC Immunology Inc, has successfully completed a further
equity financing round of $1.5m from existing and new investors at a company valuation of $30 million. This funding will enable AecorBio to complete the investigational work of its lead peptide candidate FT-002a, in advanced prostate cancer, to enable an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) in 2026. Filing the IND will represent a critical milestone, paving the way for AecorBio to transition FT-002a into clinical development, as a co-therapy in the management of advanced prostate cancer.
FT-002a is a first-in-class peptide co-therapeutic for the treatment of advanced prostate cancer. Advanced prostate cancer affects more than 250,000 men annually in the U.S alone. Unlike conventional treatments, FT-002a resets tumor iron metabolism by restoring iron-responsive gene expression homeostasis. An increased labile iron pool (LIP) is a critical driver of tumor growth, spread and resistance to therapy. FT-002a restores LIP balance and tumor sensitivity to ARPI treatment, by helping starve the tumor cells of free iron. The current addressable market for resistant prostate cancer is more than $2.5b annually and the total ARPI market is in excess of $10b a year and continues to show sustained, strong annual growth.
Compelling preclinical data supports the modulation of tumor iron metabolism by FT-002a. In
animal models of resistant prostate cancer, FT-002a orally delivered in a proprietary formulation
achieved an 80% reduction in tumor volume when co-administered with the current standard of
care, the ARPI enzalutamide (Pfizer), compared to enzalutamide alone. In hormone sensitive
advanced prostate cancer, an even higher anti-tumor activity was observed, with up to 97%
reduction in tumor volume.
Beyond FT-002a in prostate cancer, AecorBio has filed a robust global intellectual property
portfolio and is leveraging its proprietary peptide discovery platform to advance three additional
preclinical programs in other hormone-dependent oncology and immunology. Together, these
peptides establish a multi-asset pipeline and a solid foundation for future strategic partnerships
with major pharmaceutical companies.
“The closing of this financing round reflects strong investor confidence in our vision and scientific
platform,” said Dr. Bomi Framroze, CEO of AecorBio. “Our immediate focus is to complete the
IND-enabling studies and move FT-002a into the clinic. With a differentiated mechanism of
action, clean preliminary toxicity results and compelling preclinical efficacy, we believe FT-002a
has the potential to become a transformative therapy for patients with treatment-resistant prostate
cancer.”
Hofseth BioCare ASA retains approx. 67.5% ownership of the outstanding shares in AecorBio
Inc. after the transaction, and as a result will book a NOK 8 million gain in financial income, in Q3
2025.
For further information, please contact:
Dr. Crawford Currie, Head of Medical R&D
Tel: +44 7968 195 497
cc@hofsethbiocare.no
