arGEN-X, a Rotterdam, The Nederlands-based biopharmaceutical company focused on the discovery and development of human monoclonal antibodies, closed a €27.5m (US$37m) Series B funding.
The round was co-led by OrbiMed Advisors and Seventure Partners, with participation from existing shareholders Forbion Capital Partners, Credit Agricole Private Equity, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital and VIB.
The company intends to use the funds to advance differentiated therapeutic antibody programs into clinical Development
Led by CEO Tim Van Hauwermeiren, arGEN-X is developing a pipeline of human antibody products from its proprietary SIMPLE Antibody™ platform. It has five therapeutic programs under development for the treatment of autoimmune disorders, inflammation and oncology, with two now in formal preclinical development. The company’s most advanced program, ARGX-110, addresses a clinically validated cell surface receptor implicated in autoimmunity and cancer and has been shown in preclinical models to modulate target function with unrivalled potency.
arGEN-X expects to file an IND application for ARGX-110 in early 2013.
In conjunction with the fundraising, OrbiMed’s founding partner, Dr Mike Sheffery, will join the company’s Supervisory Board.
The company’s Belgian subsidiary arGEN-X BVBA is located in Zwijnaarde.
03/12/2009: arGEN-X Closes €12.5M Series A Equity Financing Round
03/11/2009: arGEN-X BVBA Receives €1.3M Grant to Develop Novel SIMPLE Antibody Platform
10/09/2009: Dutch arGEN-X Raises €9.5M