Symphogen Receives Second Tranche of €100m Financing

Symphogen, a Copenhagen, Denmark-based developer of antibody therapeutics (monoclonal, monoclonal mixtures and polyclonal), received the second of three tranches of capital specified in its €100 million 2011 financing (read here).

The round was led by Novo A/S and was joined by Essex Woodlands together contributing 70% of the investment.

This second tranche of funding was provided after that the company had met a key clinical milestone demonstrating the ability to accelerate advancement of its lead clinical oncology product Sym004.

Led by CEO Kirsten Drejer, Ph.D., Symphogen is developing superior antibody therapeutics (monoclonal, monoclonal mixtures and polyclonal) to help people with serious diseases and significant unmet medical needs. With its proprietary Symplex™ discovery, SymSelect™ lead selection and Sympress™ manufacturing platforms, the company is developing a diversified pipeline of internal and partnered products across multiple indications including cancer, autoimmune and infectious disease. Symphogen has a US subsidiary in Princeton, New Jersey.

The company also appointed Martin Olin as Chief Financial Officer. He joined Symphogen from Scandinavia Life Science Invest (SLS Invest). Prior to his position with SLS Invest, Olin was with Novo Nordisk.



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