Danish firms attractive for investors
Vaterløse/Hørsholm - Three Danish biopharmaceutical companies have attracted several million euros of investment which will allow them to further the clinical development of their drug candidates.
Hørsholm-based biopharmaceutical company Santaris Pharma A/S has raised Euro40 million through a private investment round made by an international syndicate of life sciences venture investors from the Netherlands, Germany, Switzerland, Denmark and France. The proceeds of the financing will be used to fund continued development of drug candidates based on Locked Nucleic Acid (LNA), an RNA antagonist to Bcl-2, currently in an international Phase I/II trial in patients with chronic lymphocytic leukaemia. The funds will enable the start of clinical studies with other RNA antagonists. The company expects to have a sufficient financial base until mid-2008. Furthermore, the company has announced a new MicroRNA cancer research collaboration with the University of Copenhagen, selected by the Danish Advanced Technology Foundation out of a total of more than 130 applications seeking support of Euro1.3 million.
7TM Pharma A/S, a spin-off from the University of Copenhagen, also has succeeded in raising private capital. The drug development company has closed a Euro19 million Series C financing round and, with this, the company will further develop two lead anti-obesity agents based on targeting 7TM receptors as well as to initiate other drug candidates emerging from this technology.
Vaterløse-based company Egalet A/S has raised a total amount of Euro23.5 million in a private placement led by Finish and Danish investors. The new capital shall help the company to boost clinical studies of their drug candidates targeting heart diseases and pain management.