Symphogen in USD 330m deal with US biotech company Genentech  

2008.06.11
Danish biotech company Symphogen has entered a global strategic collaboration with Genentech for antibody therapeutics against infectious disease targets
Danish biotech company Symphogen has announced in a press release that it has entered a global strategic collaboration with US company Genentech, Inc. for antibody therapeutics against three undisclosed infectious disease targets. The deal is worth a potential USD 330m to Symphogen, while Genentech gets an exclusive worldwide license to drug candidates developed through this agreement.
 
Symphogen will utilize its proprietary Symplex antibody discovery technology platform to identify novel infectious disease drug candidates. For its part, Genentech will gain access to Symphogen’s technology to produce recombinant polyclonal antibodies.
 
“We believe this alliance with Genentech is a recognition of our antibody discovery and expression technologies,” said Symphogen's CEO Kirsten Drejer. “This deal underscores our belief that Symphogen’s technologies offer a valuable approach to create next-generation therapeutics that address critical unmet medical needs in the treatment of serious infections.”
  
As part of the deal, Genentech will make an undisclosed upfront payment to Symphogen, as well as an equity investment in Symphogen, which is eligible to receive milestone payments upon the success of certain research and development milestones.

Based in Copenhagen, Symphogen develops therapeutic products based on recombinant polyclonal antibodies that capture the diversity and effectiveness of the natural immune system. Symphogen's product pipeline covers several disease areas including infectious diseases and cancer.
 
Link > Symphogen    

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