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

23.04.2010

Oslo – Norwegian cancer specialist Clavis Pharma ASA announced yesterday that its US-based development partner Clovis Oncology for CP-4126 has signed an agreement with Ventana Medical Systems, Inc. to develop a companion...

NorwayNorway

06.03.2010

Oslo/Levanger – A report released by the Research Council of Norway (RCN) proposes setting up a national biobank company in Norway. After analysing ethical, judicial and political arguments, the study ordered by the Norwegian...

NorwayNorway

01.02.2010

Cancer drug developer Clavis Pharma ASA (Oslo) has appointed Olav Hellebø as its new CEO. Hellebø, who joined Clavis Pharma from UCB at the beginning of February, is an experienced pharmaceutical executive who has held senior...

NorwayNorway

04.01.2010

Oslo – Norwegian drug delivery specialist Clavis Pharma ASA has received an unsecured loan of NOK20m (EUR2.4m) from the governmental body Innovation Norway to kick-off a Phase III registration trial with elacytarabine in 350...

NorwayNorway

22.12.2009

Oslo – Norwegian drug delivery specialist Clavis Pharma ASA has received an unsecured loan of NOK20m ($3.2m) from Innovation Norway to kick-off a phase III registration trial with elacytarabine in patients with late-stage acute...

NorwayNorway

25.11.2009

Oslo/Boulder – Norwegian drugmaker Clavis Pharma has inked a cancer drug development deal worth around US$380m with US-based Clovis Oncology, a newly formed oncology company led by former Pharmion Corporation executives. The deal...

NorwayNorway

19.09.2009

Oslo – Norway’s Algeta ASA surprised analysts with a EUR560m licensing pact for the company’s lead drug – an experimental radiotherapy that targets cancerous bone cells. Licensing partner Bayer Schering Pharma will pay US$61m in...

NorwayNorway

13.07.2009

Oslo – Prof. Harald Stenmark, head of the Centre for Cancer Biomedicine at the Norwegian Radium Hospital, has received one of the Advanced Grants distributed by the European Research Council. The oncologist will now receive...

NorwayNorway

13.07.2009

Oslo – Clavis Pharma ASA, a Norwegian drug developer focused on cancer therapies, has reported that it has received EUR14m (NOK 129m) in additional funding through a private placement of 10.7 million shares led by Carnegie ASA...

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