Investors plough USD 25 mn of additional funding into Symphogen  

2004.11.03
The Danish biotech company announces fresh round of financing from existing international investors

Copenhagen-based biotech company Symphogen A/S has announced the initial closing of a Series C financing round involving commitments totalling USD 25 mn from existing investors Essex Woodlands Health Ventures (USA), Scandinavian Life Science (SLS) Venture, Novo A/S, LD Pensions and the Danish Growth Fund.

 

Commenting on this financial milestone, Symphogen's CEO Kirsten Drejer said, “Our investors appreciate the opportunity that exists within the medical marketplace for target-specific recombinant natural human antibodies. Other potential new investors may elect to join the round given the opportunities that exist for the company and its shareholders.”

 

Symphogen A/S pioneers therapeutic products based on recombinant natural human antibodies for the treatment and prevention of human disease. Symphobodies offer a number of advantages over current plasma-derived immunoglobulins and monoclonal antibody therapies for the treatment of infectious diseases, allergy, transplant rejection, and cancer. Collectively, Symphogen’s technologies offer best in class antibody therapeutics against both simple and complex target antigens. The commercial potential of symphobodies is expected to be very significant.

 

In May of this year Symphogen and Biovitrum entered into an agreement that involves process development and production of a Rhesus D-specific human recombinant polyclonal antibody for Symphogen’s clinical studies on the prevention of haemolytic disease in newborns. Symphogen has brought this first product to the stage of upscaling manufacture in preparation for clinical trials.

 

Link > Symphogen 

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