Investors pour development cash into Santaris Pharma  

2007.12.20
The Copenhagen-based biopharmaceutical company announces completion of a new DKK 152 m private investment round
Santaris Pharma, a Copenhagen-based biopharmaceutical company, has issued a press release announcing completion of a new DKK 152 m (USD 30 m) private investment round, of which DKK 56 m (USD 11 m) came from a new investor from the Netherlands, Gilde Healthcare Partners, which also gains a seat on the board. The remaining cash was raised from a sizeable syndicate of existing investors.
 
Santaris Pharma's CEO Keith McCullagh says that the new equity is sufficient to fund operations through to the end of 2009. The company is developing innovative candidate RNA medicines based on its Locked Nucleic Acid (LNA) technology, and next year expects to put a compound for the treatment for chronic lymphocytic leukaemia and B-cell lymphoma into phase II clinical trials.
 
Edwin de Graaf, general partner of Utrecht-based Gilde Healthcare Partners, says in the press release: “Santaris Pharma is well positioned to become a leader in the field of RNA medicines. It is a company that quickly has built an impressive and promising pipeline of drug candidates, which are getting ready to be validated in the clinic.”
 
Santaris Pharma was formed in 2003 and currently employs 85 people. The company has exclusive rights to LNA technology, which it is using to develop new classes of RNA medicines targeted against cancer and metabolic disorders. Santaris Pharma has a co-development partnership in the cancer treatment area with US company Enzon Pharmaceuticals.
 
Link > Santaris Pharma 

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