A3P Biomedical raises SEK 110 million in growth capital

October 21, 2020

A3P Biomedical announced today that it has raised SEK 110 million in growth capital from institutional and private investors in Sweden to fund the commercialization of Stockholm3, A3P’s superior prostate cancer test. Near-term, A3P will focus on accelerating the Nordic launch, as well as preparing commercialization in Europe and North America. Stockholm3 has in large clinical studies and in clinical practice demonstrated significantly better sensitivity and specificity than current practice.

A3P Biomedical announced today that it has raised SEK 110 million in growth capital. In 2019, Stockholm3 was used by more than 20,000 men in Sweden and Norway. The new funds will be used to accelerate the Nordic launch of Stockholm3 and to prepare commercial activities in other markets. A3P is strengthening its management team, progressing product and regulatory development as well as market access and commercialization strategies.

“Stockholm3 has a unique potential in a compelling and growing market. Clinical data from almost 80,000 men demonstrate that Stockholm3 finds 100% more aggressive prostate cancers and reduce 50% of unnecessary biopsies compared current practice with PSA. This growth financing is important to kick-off the international roll-out of Stockholm3 and follows upon almost 750 million SEK in grant funding over the years” Martin Steinberg, CEO of A3P Biomedical.

About A3P Biomedical

A3P Biomedical is a company that specializes in advanced prostate cancer diagnostics. A3P’s main product, Stockholm3, is a clinically and commercially validated blood test for early detection and risk stratification of aggressive prostate cancer. A3P Biomedical is headquartered in Stockholm, Sweden. For more information, please visit www.a3p.com 

About Stockholm3

Stockholm3 is a blood-based test, that runs a combination of protein biomarkers, genetic biomarkers and clinical information through an algorithm to find the probability of clinically significant cancer at biopsy.

Stockholm3 has been evaluated in clinical studies including more than 90,000 men. It is extensively tested in large population-based screening trials, as well as in real world clinical utility studies in primary care, as a reflex test to PSA at values 1.5-20 ng/ml.  Benefits include the ability to reduce unnecessary MRIs, benign and Grade Group 1 prostate biopsies for men with elevated PSA, while simultaneously improving detection of clinically significant cancers in men with low or normal PSA values.  Using Stockholm3 leads to a more accurate risk assessment than the current PSA standard. Stockholm3 detects 40-90% more men with aggressive prostate cancer and, at the same time, reduces over-detection by 40-50% compared to PSA.

Multiple Stockholm3 studies have been published in high-impact journals such as The Lancet Oncology, Journal of Clinical Oncology, and European Urology. The studies address both the specificity and sensitivity of Stockholm3 in multi-ethnic populations as well as health-economic benefits of implementing it in clinical care. For more information about our clinical studies please visit www.a3p.com.

About prostate cancer

Prostate cancer is the most common cancer in men. In 2020, the global incidence of new prostate cancer cases was 1.4 million, and prostate cancer specific mortality 370,000. Global prostate cancer incidence and mortality is expected to rise by 100% and 85% respectively by 2040, driven by an ageing population.

Press contact:
Cecilia Edström
cecilia.edstrom@a3p.com
+46 72 226 2328