Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Symphogen Expands Previous Private Equity Round, Reaching a Total of € 141 Million

Published: Friday, May 03, 2013
Last Updated: Thursday, May 02, 2013
Bookmark and Share
Novo A/S and PKA led the expansion with investments of €20 million each, while Danica Pension participated with its pre-financing ownership share of the additional financing.

Symphogen has announced that it has closed an expansion of its previously announced €100 million financing, attaining a total of a €141 million placement of preferred stock to a group of existing investors.

The proceeds of the financing will be used to advance and expand Symphogen’s proprietary oncology product pipeline of antibody mixture products addressing multiple targets in a single drug product.

Göran Ando, Chairman of the Board, noted: “This additional financing emphasizes the strong support of our syndicate of investors and allows the company to further significantly expand its oncology pipeline of antibody mixtures, allowing us to build a broad pipeline of innovative cancer medicines.”

In conjunction with the financing, Dr. Anthony Tolcher, President and Co-Founder of START, joins Symphogen’s Board. Dr. Tolcher leads one of the world’s largest clinical Phase I and early drug development operations in cancer medicine with 3 locations in San Antonio, Texas; Madrid, Spain and Shanghai, China.

Kirsten Drejer, PhD., Symphogen’s Chief Executive Officer, commented: “We met an important goal last year when we partnered with Merck-Serono on our most advanced oncology asset. Going forward, we will continue to partner when appropriate as well as identify assets in our pipeline that we can advance to the market ourselves. A pro-forma cash position of more than €100 million and the addition of Dr. Tolcher to our Board allows us to execute on this strategic ambition. Dr. Tolcher not only strengthens our oncology drug development expertise, but brings strong insight into translational oncology drug development as a leading clinician in the field of oncology.”

Michael Nelleman Pedersen, Chief Investment Officer of PKA, said: “Since our initial investment in 2011, Symphogen has delivered to our expectations and this additional investment provides unprecedented financial strength to develop and bring innovative cancer products to the market.”

Henrik Gürtler, CEO of Novo A/S, added: “It is important to understand the significance of the investments of Danica Pension and PKA. This is Danica Pension’s first active investment in Symphogen, where they are participating independently rather than as a limited partner in a venture fund. Similarly, PKA, which first invested in Symphogen less than two years ago, has significantly increased its commitment to the company in this round. This is somewhat unusual in today’s venture investing arena. Both groups provide an important endorsement of the company’s focus, its ability to make strategic decisions and, of course, to move programs through the clinic.”


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,000+ scientific posters on ePosters
  • More Than 4,400+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Symphogen’s Antibody Mixtures Highlighted in Three Peer-Reviewed Journals
Pioneering and novel approach to Anti-EGFR and Pan-HER antibodies validated in clinical and pre-clinical research papers.
Thursday, May 28, 2015
Symphogen to Report Preliminary Safety Data from a Phase 1 Study of Sym004
Data will be presented at the upcoming 2014 ASCO Annual Meeting in Chicago.
Friday, May 30, 2014
Symphogen Announces the Appointment of Annika Espander Jansson
Appointment of Annika as Non-Executive Director of the Board.
Monday, December 23, 2013
Symphogen Receives Milestone Payment in Merck KGaA Sym004 Collaboration
Payment enhances the financial position of Symphogen.
Wednesday, June 26, 2013
Symphogen Presents Positive Rozrolimupab (SYM001) Phase 2 Trial Results in ITP at ASH
Phase 2 data demonstrate that rozrolimupab induce a rapid increase in blood platelets of ITP patients.
Tuesday, December 13, 2011
Symphogen Publishes Pre-Clinical Data Demonstrating Encouraging Results for Sym004
Results further validate Symphogen’s proprietary discovery platforms to identify potential antibody therapeutics for cancerous diseases.
Monday, January 18, 2010
Symphogen Issued Patent Covering Sympress™ Technology
The patent covers use of pAb manufacturing cell lines and Symphogen's polyclonal antibody expression libraries.
Wednesday, September 13, 2006
Symphogen’s Success Attracts USD 25 Million Investment
The financing will be used to carry out clinical trials of Symphogen’s first product, anti-RhD.
Thursday, January 12, 2006
Symphogen Launches New Website and Marketing Materials
New website is accompanied by several new factsheets detailing the company, technology and products.
Wednesday, December 21, 2005
Scientific News
Releasing Cancer Cells for Better Analysis
A new device developed at the University of Michigan could provide a non-invasive way to monitor the progress of an advanced cancer treatment.
Releasing Cancer Cells for Better Analysis
A new device developed at the University of Michigan could provide a non-invasive way to monitor the progress of an advanced cancer treatment.
Apricot Kernels Pose Risk of Cyanide Poisoning
Eating more than three small raw apricot kernels, or less than half of one large kernel, in a serving can exceed safe levels. Toddlers consuming even one small apricot kernel risk being over the safe level.
Cell Transplant Treats Parkinson’s in Mice
A University of Wisconsin—Madison neuroscientist has inserted a genetic switch into nerve cells so a patient can alter their activity by taking designer drugs that would not affect any other cell.
Understanding Female HIV Transmission
Glowing virus maps points of entry through entire female reproductive tract for first time.
Genetic Markers Influence Addiction
Differences in vulnerability to cocaine addiction and relapse linked to both inherited traits and epigenetics, U-M researchers find.
Lab-on-a-Chip for Detecting Glucose
By integrating microfluidic chips with fiber optic biosensors, researchers in China are creating ultrasensitive lab-on-a-chip devices to detect glucose levels.
A lncRNA Regulates Repair of DNA Breaks in Breast Cancer Cells
Findings give "new insight" into biology of tough-to-treat breast cancer.
COPD Linked to Increased Bacterial Invasion
Persistent inflammation in COPD may result from a defect in the immune system that allows airway bacteria to invade deeper into the lung.
Detection of HPV in First-Void Urine
Similar sensitivity of HPV test on first void urine sample compared to cervical smear.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,000+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,400+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!