Santaris Pharma raises substantial investment  

2006.03.16
Santaris Pharma, a Copenhagen based biopharmaceutical company has gained a DKK 298 m investment from both new and existing investors to fund continued drug development

Santaris Pharma, a Copenhagen based biopharmaceutical company, has gained a DKK 298 m (USD 48 m) investment from both new and existing investors. The sum will be used primarily to fund continued development of Santaris Pharma's portfolio of drug candidates based on its Locked Nucleic Acid (LNA) technology. Santaris expects the investment will finance the company until mid-2008.

The new investors Abn Amro Capital Life Sciences (Holland), Global Life Science Venture (Germany and Switzerland), the Danish Fund for Industrial Growth (Denmark) and SPEF Venture (France) account for 50% of the investment, while the remaining 50% was financed by current investors including Bankinvest, Novo Ventures, Innovationskapital and Teknoinvest.

Søren Carlsen, managing partner of Novo A/S says: "International investors are increasingly looking at Denmark, Switzerland and UK. This is where you find companies with more mature drug candidates, and where you can raise cash more easily." The news was reported by financial daily newspaper Børsen and in a press release at Santaris Pharma's website.

Santaris Pharma is a result of a merger between Pantheco and Cureon in 2003. The company focuses on developing next generation of RNA-silencing drugs based on its proprietary LNA technology for the treatment of cancer and metabolic disorders. Santaris Pharma is based north of Copenhagen.

Link > Santaris Pharma 

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