Recombinant natural human antibodies - Symphogen A/S announced USD 25 million from international Investors
Copenhagen. Symphogen A/S (the Company), the Danish biotech company pioneering recombinant natural human antibodies for the treatment and prevention of human disease, announced the initial closing of a Series C financing round involving commitments from existing investors of USD 25 million. The investors, who are participating pro-rata, are Essex Woodlands Health Ventures (USA), Scandinavian Life Science (SLS) Venture, Novo A/S, LD Pensions and Vaekstfonden.
"This USD 25 million additional investment demonstrates continued strong support of Symphogen by existing investors, each of whom is well positioned to fully appreciate the exceptional quality of the Company," said Jeff Himawan, Ph.D., Managing Director of Essex Woodlands Health Ventures, a US-based venture capitalist and largest shareholder in Symphogen A/S.
Commenting on this financial milestone, Kirsten Drejer, Ph.D., Chief Executive Officer of Symphogen A/S said, "We are partnered with an exceptional group of international investors who have clearly demonstrated their commitment to Symphogen. 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."
Martin Olin Andersen, Partner at SLS Venture, added to Dr. Drejer's comments saying, "This expansion of our initial investment is good business. Symphogen has been rolling out some very exciting R&D and manufacturing data that reaffirms the wisdom of our initial investment."
Elaborating on this, Martin Edwards, MD, Partner at Novo A/S, explained, "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 hemolytic disease in newborns. It is an important achievement that Symphogen has brought this first product to the stage of upscaling manufacture in preparation for clinical trials."
Expressing his support following the outcome of this financing round, Laurence J Korn, Ph.D., who recently joined the Board of Directors at Symphogen A/S said, "I am very impressed by the tremendous technical progress we have accomplished recently, and am excited to be working with Symphogen to help establish corporate partnerships with biotech and pharmaceutical companies,"
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Topic world Antibodies
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