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

05.04.2011

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,...

NorwayNorway

05.04.2011

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...

NorwayNorway

04.11.2010

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...

NorwayNorway

03.11.2010

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...

NorwayNorway

18.09.2010

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...

NorwayNorway

11.07.2010

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...

NorwayNorway

12.05.2010

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...

Displaying results 11 to 20 out of 92

< Previous 11-20 Next >

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/nc/news/messages-archive/archive-norway/browse/1/article/norwegian-bergenbio-gets-series-a-financing-for-cancer-candidate.html

Product of the week

Products

Events

All Events

Current issue

All issues