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
About AecorBio:
AecorBio Inc. (formerly HBC Immunology) is a US biotechnology company focused on
developing novel, bioactive peptides with therapeutic potential across oncology,
inflammatory, and autoimmune diseases. The company's proprietary peptide
platform has already delivered multiple drug candidates, led by FT-002a in
advanced prostate cancer, and is supported by strong intellectual property and
global academic collaborations.
About Hofseth BioCare ASA:
HBC is a Norwegian consumer and pet health company founded on the core values of
sustainability, optimal utilization of natural resources and full traceability.
It upcycles the side streams of the salmon industry by taking fresh filleted
salmon and converting it from a waste product into ingredients to improve human
and pet health.
These ingredients are ProGo®, a mix of bioactive peptides and collagen, OmeGo®,
a whole salmon oil, with all the fatty acid fractions contained in fish, and
CalGo® / NT-II® salmon bone powder containing calcium hydroxyapatite and
undenatured collagen for bone and joint health.
HBC places scientific evidence at the forefront which has led to important
academic partnerships and the identification of unique health benefits. This
includes the demonstration of improved iron metabolism by boosting the body's
ability to utilize and use iron resulting in increased energy and vitality with
ProGo® as well as the activation of the GLP-1 receptor with fat reduction in
overweight adults. OmeGo® has shown important immune health benefits including
recovery from viral infection and improved respiratory health and sleep in
adults troubled by particulate matter pollution. Finally, CalGo®/ NT-II® has
shown both bone and joint health benefits to support healthy aging and active
lifestyles.
This work has also resulted in the granting of several patents protecting these
discoveries. It has also led to the discovery of potential therapeutics and HBC
has spun out a biotech-focused company, AecorBio Inc., and the lead program is
prostate cancer followed by ovarian cancer. A separate molecule is targeted as
an oral, steroid-sparing therapy for asthma. HBC's headquarters are in Ålesund,
Norway with branches in Oslo, London, Zürich, Los Angeles, and Menlo Park, CA.
HBC is listed on Oslo Stock Exchange with ticker "HBC".
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act