Hofseth Biocare ASA: USD 5 Million Divestment in Aecorbio

Core Viewpoint - Hofseth BioCare ASA is launching a private placement between NOK 155 million and NOK 181 million and is partially divesting shares in its U.S. subsidiary AecorBio Inc, which is valued at approximately $36 million, reflecting a 20% premium compared to its last funding round [2][3][4] Company Summary - The company will divest 1,616,498 shares in AecorBio for about $5 million at a price of $3.0931 per share, resulting in HBC retaining approximately 52% ownership in AecorBio post-transaction [3][4] - AecorBio's lead peptide candidate, FT-002a, is in preclinical development for advanced prostate cancer, with an Investigational New Drug (IND) application planned for 2026 [4][6] - FT-002a aims to enhance the effectiveness of standard cancer therapies by directly modulating tumor iron metabolism, showing significant tumor volume reduction in preclinical studies [6][7] Industry Summary - The addressable market for resistant prostate cancer exceeds $2.5 billion annually, while the total ARPI market is over $10 billion and continues to grow [5] - Compelling preclinical data indicates that FT-002a can achieve up to an 80% reduction in tumor volume when combined with standard care, and up to 97% in hormone-sensitive advanced prostate cancer [6] - AecorBio is developing a multi-asset pipeline with additional preclinical programs in oncology and immunology, supported by a robust global intellectual property portfolio [7]