Sweden’s Lithea Raises €851k To Develop Targeted Therapy For Childhood Bone Cancer

The funding follows a recent €27,000 planning grant from Vinnova under the Planning Grant for International Proposal 2025 programme. The grant will help Lithea prepare a proposal for the EIC Accelerator Open, aimed at supporting the development of its intratumoral drug-delivery platform for oncology.

“Our technology has shown very promising results in animal studies, with 92% reduction in tumor size and much lower drug levels in the rest of the body compared to standard treatment,” said Ludvig Sjöberg, CEO of Lithea AB. “This funding helps us build stronger scientific proof and move closer to testing in patients.”

Lithea’s latest funding round to advance its tumour-targeted drug delivery system aligns with a broader European surge in oncology and biotech investment in 2025.

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In France, Exeliom Biosciences extended its Series A by €2.85 million to accelerate cancer immunotherapy development. Meanwhile, Swiss companies NUCLIDIUM AG and Hedera Dx raised €84 million and €15 million respectively to expand radiopharmaceutical theranostics and precision molecular diagnostics in oncology.

While Lithea’s €851k round is modest compared to these later-stage raises, it highlights strong investor confidence in early-stage innovation and the growing potential of targeted drug-delivery technologies in cancer treatment.

Dr Deepak Raina, CTO and Co-founder of Lithea AB, added: “We’re building a platform that combines precision with flexibility. The CaS/HA system allows us to deliver cancer drugs exactly where they’re needed, and we’re excited about its potential to improve outcomes for patients with difficult-to-treat tumours.”

Founded in 2021, Lithea is a PharmaTech company developing advanced therapies for solid tumours with a mission to extend the lives of cancer patients.

Its lead product, LIT1001, is a small pellet containing the chemotherapy drug doxorubicin, designed for direct placement into bone tumours—specifically targeting osteosarcoma, a rare and aggressive cancer that mainly affects children. By delivering the drug directly into the tumour, LIT1001 aims to improve treatment effectiveness while minimising side effects.

The product has received Orphan Drug designation from the U.S. FDA, granting it special recognition and support to accelerate development and approval.

Lithea’s drug-delivery platform is adaptable for various cancer therapies and holds potential for treating other major cancers, including breast, lung, and prostate cancer in the future.

About Lithea

Lithea AB is a life science company redefining cancer treatment by focusing on preventing tumour growth and metastasis. Using a patented hydroxyapatite-based carrier platform, Lithea delivers drugs locally for precise, effective, and targeted oncological therapies that improve patient outcomes.