Fresh cash for cancer therapies


Lysaker – Norwegian biopharmaceutical company PCI Biotech Holding ASA has strengthened the company’s equity by a11m (NOK90m) through a share issue of 2.25 million shares with preemptive subscription rights for existing shareholders. The issue was oversubscribed by about 50%. DnB NOR Markets and Fondsfinans acted as joint lead managers for the rights issue. According to the company, the proceeds will be used to complete clinical development for three or four selected treatments for cancers. “We are now well-positioned for the further development of both our pipeline and PCI Biotech,” said CEO Per Walday.
PCI Biotech was established in 2000 as a subsidiary of the Norwegian pharmaceutical company Photocure ASA, which is one of the biotech companies established around the Radium Hospital in Oslo. In 2008, PCI Biotech was listed on the Oslo Axess after being split off from Photocure. PCI Biotech’s strategy is to commercialise a patented photochemical drug delivery technology called PCI for use in cancer therapies. The company has an ongoing clinical Phase I/II study to treat patients with head and neck cancer. Other pre-clinical trials are looking at the use of PCI in the treatment of bladder cancer.



Oslo – Norwegian Algeta ASA has entered a research collaboration with Genzyme to evaluate the potential of its Thorium platform Under the terms of the agreement, Genzyme will provide access to a novel tumour-targeting antibody,...



Trondheim – Norway-based APIM Therapeutics AS has received a follow-up investment from Sarsia Seed, one of its previous investors. APIM focusses on novel drug candidates that potentiate the action of current chemo­therapeutics to...



Oslo – Norwegian diagnostic specialist DiaGenic ASA has raised NOK70m (EUR 8.5m) through the sale of 140 million shares at NOK0.50 per share in a private placement to new and existing investors. DnB NOR Markets acted as manager...



Oslo – The Oslo Cancer Cluster and the Shanghai Institute of Materia Medica (SIMM), have signed a memorandum of understanding aimed at accelerating the development and adoption of new cancer therapies. Overall, the collaboration...



Oslo/Berlin – Algeta is cashing in on its lead product Alpharadin, a targeted alpha-radiopharmaceutical in clinical trials for treating bone metastases in cancer patients. Bayer Schering Pharma has agreed to pay the Norwegian...



Oslo – In Norway, a discussion has begun on how to continue to support biotechnology after the current National Programme for Research in Functional Genomics in Norway (FUGE) comes to a close in 2011. Efforts to draw up a...

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