Oncorena Raises 133 Million SEK to Advance Metastatic Kidney Cancer Study

Oncorena Successfully Completes New Share Issue

On June 26, 2025, Oncorena, a Swedish pharmaceutical firm focused on innovative cancer treatments, announced the completion of a new share issuance that has been fully subscribed. The total amount raised from this share offering reached 133 million SEK (approximately 13.9 million USD), reflecting strong investor confidence and interest in the company's groundbreaking work on renal cancer therapies.

The funds secured through this share issuance will significantly bolster the development of Oncorena’s clinical study, designated as Oncorella-1 (NCT05287945, ONC001-CL-001). This study is focused on the investigational drug ONC175, which is currently undergoing Phase 1/2 trials aimed at evaluating its safety, tolerability, and potential efficacy against metastatic clear cell and papillary renal cell carcinoma (mRCC).

Clinical Trial Details

The Oncorella-1 study consists of two parts, with Part A already completed. The ongoing Part B will involve enrolling around 20 patients suffering from mRCC requiring hemodialysis. The primary objective of this phase is to establish a suitable dosage regimen for subsequent pivotal studies. With the newly acquired funding, Oncorena plans to extend the trial to multiple hospitals across the U.S. and Europe, enhancing the breadth and significance of their research efforts. Among the sites included is the Karolinska University Hospital in Stockholm, Sweden, which is currently participating in the study.

Börje Haraldsson, CEO and co-founder of Oncorena, expressed his gratitude to the shareholders, noting that the majority of the shares were subscribed by major investors including HealthCap, Linc AB, and FSG, along with smaller stakeholders. His confidence in the company’s vision for developing ONC175 as a transformative treatment option for renal cancer patients is echoed by the overwhelming support from investors, healthcare professionals, and patients alike. As he stated, "Thanks to this strong backing, we are now positioned to advance this first-in-class therapy for patients who face a significant medical need. Within the next year, we anticipate determining whether ONC175 meets our high expectations."

About ONC175

ONC175 represents a novel treatment that utilizes synthetically produced orellanine as its active component. This compound is characterized by its high specificity for the kidneys, making it exceptionally effective while posing minimal risk to other organs. Preclinical studies have indicated that ONC175 is capable of eradicating human metastatic renal cancer cells, aligning with Oncorena’s ambition to deliver a curative solution particularly for those patients with little to no kidney function, such as those on dialysis.

Unmet Medical Need

Kidney cancer remains a pressing health issue globally, with around 400,000 cases reported annually according to WHO statistics. Early detection often leads to curative surgical intervention; however, the prognosis becomes significantly more challenging once metastasis has occurred. Current treatment modalities frequently involve targeted therapies and immunotherapies that have limited curative potential. Thus, there is an urgent requirement for innovative and effective drug options.

About Oncorena

Founded in Lund, Sweden, Oncorena AB is dedicated to developing breakthrough treatments for metastatic renal cancer. The company’s initiatives are supported by seminal research conducted by Professor Börje Haraldsson at the University of Gothenburg. Oncorena’s ongoing projects have received financial backing from various investment entities including HealthCap, Linc AB, and other private investors, as well as support from Sweden's Innovation Agency, Vinnova. For further details on Oncorena's advancements and ongoing studies, please visit their official website at www.oncorena.com.