Symphogen Closes €67.5M Convertible Debt Facility

symphogenSymphogen, a Copenhagen, Denmark-based biopharmaceutical company developing recombinant antibody mixtures, closed a €67.5m convertible debt facility from existing investors.

The round, which brought total pro-forma cash resources to a total of €110m, was led by Novo A/S and the Danish pension fund PKA.

The company intends to use the funds to progress its pipeline, specifically Sym004, a novel antibody mixture and its lead clinical program currently in a multi-center Phase 2b study in metastatic colorectal cancer patients with disease resistance or refractory to anti-EGFR antibody therapies, and to advance to the clinic both of its other fully owned assets, the pan-HER product candidate, Sym013, a mixture of six antibodies targeting each of EGFR, HER2 and HER3 and its MET product candidate, Sym015, a mixture of two antibodies targeting the MET receptor for treatment of patients with MET-amplified tumors.

Led by Kirsten Drejer, Chief Executive Officer, Symphogen is also deploying its proprietary mAb mix approach to its immuno-oncology research programs.



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