Symphogen Closes €100M Round of Financing
, a Copenhagen, Denmark-based biopharmaceutical company developing superior antibody therapeutics to treat cancer, infectious and autoimmune diseases, closed a €100m round of financing
The round was led Novo A/S with participation from Essex Woodlands Fund VIII. They are contributing 70% of the investment.
The Danish Pension Fund PKA also participated in the transaction.
Symphogen intends to use the funds to accelerate advancement of its lead clinical oncology product Sym004 as well as its other clinical and preclinical oncology opportunities both for proprietary pursuit and partnering.
Sym004 entered into Phase 1/2 development in April 2010 in the US and Europe to evaluate its safety, tolerability and efficacy for the treatment of advanced solid tumors.
In conjunction with the investment, Goran A. Ando, MD, senior advisor to Essex Woodlands and board of directors member of Novo A/S, has joined Symphogen’s board as chairman.
The company, which is led by Kirsten Drejer, PhD. has a US subsidiary in Princeton, New Jersey.