NorwayNorway

Norwegian BergenBio gets Series A financing for cancer candidate

11.01.2012

Bergen – BerGenBio A/S announced it has completed an €6.9m Series A financing round. The money will be spent in taking their lead compound BGB324 into clinical trials and to develop a companion diagnostic. The lead investors are the capital fund Sarsia Seed and the state owned Investinor fund, with other investors including Sarsia Development, Norsk Innovasjonskapital, Birk Venture, Meteva and employees. BGB324 recently attracted a great deal of attention at the annual American Society for Haematology conference in San Diego", said BergenBio's CEO Richard Godfrey, "where data was presented showing the compound inhibited tumour development in preclinical Acute Myelogenous Leukemia (AML) models". BGB324 blocks AXL kinase. There is also evidence that the inhibition of Axl blocks the epithelial-mesenchymal transistion (EMT) in cancer cells and has the potential to delay or prevent metastasis, overcome and even reverse acquired resistance to chemotherapy and possibly prevent cancer recurrence. We now look forward to completing the preclinical work and taking BGB324, into the clinic by the end of 2012, as well as developing an AXL biomarker for theranostic use”, said Godfrey.
BerGenBio was established in 2007 by two researchers at the Department of Biomedicine at University of Bergen. The company has a proprietary platform technology called CellSelect, which uses information from RNAi screening studies to identify drug targets involved in disease. The company raises high hopes in the Norwegian biotech industry. "We see BerGenBio’s success as seeding a long awaited biotech cluster here in Bergen”, said Sveinung Hole, CEO of Sarsia Seed.

NorwayNorway

08.03.2012

With a bold approach, including next-generation DNA sequencing (NGS) and state-of-the-art biobanking systems, Norway is pushing forward personalised cancer treatments in its national health care system. Clinical-quality genome...

NorwayNorway

06.03.2012

Bionor Pharma ASA’s development of an HIV vaccine is back on track. In mid-February, the Oslo-based company announced positive results from a Phase IIb study. When combined with antiretroviral treatment, the Vacc-4x vaccine...

NorwayNorway

19.01.2012

Oslo – The north lights up with financial flares. Norwegian cancer specialist Clavis Pharma ASA has raised €21m through a placement of new shares. The 2.8 million shares represent approximately 9.4% of the current stock in the...

NorwayNorway

13.12.2011

Reykjavik – Iceland’s deCODE Genetics, which Arch Venture Partners and Polaris Venture Partners lifted out of bankruptcy in January 2010, has been making a comeback of late. In mid-October, the genome analyser announced it had...

NorwayNorway

01.10.2011

Oslo/Leverkusen – Norwegian radiotherapy specialist Algeta ASA and German drugmaker Bayer have presented new data on their cancer drug alpharadin. The radium-223-chloride pharmaceutical showed an increased overall survival rate...

NorwayNorway

30.09.2011

Lysaker/Osaka - Pronova Biopharma SA is set on entering the Japanese market with its TAK-085 (omega-3-acid ethyl esters 90) for the treatment of hyperlipidemia. Pronova's partner Takeda Pharmaceutical Company Limited submitted a...

NorwayNorway

14.06.2011

Laskut/Berlin – Researchers from Finland’s Technical Research Center VTT and the Charité Hospital in the German capital have come a step closer to a personalised diagnostic test for cancer. Matej Orešic (VTT) and Carsten Denkert...

NorwayNorway

12.06.2011

Oslo – Norwegian cancer drug development company Clavis Pharma ASA will receive a grant from the Norwegian government for the development of a companion diagnostic in acute myeloid leuk­aemia (AML). The Research Council of Norway...

NorwayNorway

17.05.2011

Oslo – Clavis Pharma ASA has signed a licensing deal with US firm Translational Therapeutics, Inc., for the development and commercialization of CP-4033, a patented Lipid Vector Technology (LVT) derivative of ribavirin under...

Displaying results 1 to 10 out of 92

1-10 Next >

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/nc/news/messages-archive/archive-norway/article/norwegian-bergenbio-gets-series-a-financing-for-cancer-candidate.html

Product of the week

Products

Events

All Events

Current issue

All issues