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

10.06.2009

Oslo/Toulouse – The Norwegian Oslo Cancer Cluster and French Toulouse Cancer-Bio-Sante Cluster have announced they will be strengthening their collaboration. As a first step, the two are hosting a new conference to be held on...

NorwayNorway

07.06.2009

Oslo – Bjarte Reve, the CEO of the Oslo Cancer Cluster and also one of the 200 World Economic Forum’s 2009 Young Global Leaders, wants to use his new title to accelerate the development of better cancer diagnostics and treatments...

NorwayNorway

15.05.2009

Oslo – After assessing a variety of criteria, including efficacy in the prevention of cervical cancer, safety and evidence of long-lasting protection, Norwegian health authorities have chosen Sanofi Pasteur MSD’s Gardasil for the...

NorwayNorway

21.02.2009

Kalundborg – In January, Norwegian pharmaceutical company Pronova Bio-pharma ASA began recruiting employees for its new Danish plant, which is slated to go into operation within a year. In 2007, Pronova invested a200m in the port...

NorwayNorway

20.02.2009

Oslo – At the end of January, the Norwegian government put forward a biotech crisis package with a total volume of up to a150m. Key measures include an increased funding of innovation loans from the industrial development agency...

NorwayNorway

20.02.2009

Norwegian cancer therapeutics company Algeta ASA has announced plans to raise EUR27.7m (NOK 245m) through the private placement of 22.3 million new shares in a move managed by ABG Sundal Collier and DnB NOR Markets. Directed at...

NorwayNorway

21.01.2009

The Norwegian government is discussing a €300m rescue package for the biotech industry as part of a national financial rescue plan. The proposal for the plan was put forward by the academic institutes, hospitals and businesses...

NorwayNorway

19.08.2008

Oslo – Photocure ASA, one of the Norwegian biotech companies established around the Radium Hospital in Oslo, has finished its demerger and set up a new company named PCI Biotech. In June, the former subsidary raised EUR7.6m (NOK...

NorwayNorway

14.08.2008

Svalbard – During a two-day journey to the Arctic in June, German Research Minister Annette Schavan delivered 17,000 seed samples to the Norwegian Svalbard Global Seed Vault, which was opened in 2007. The samples were mainly...

NorwayNorway

14.08.2008

Oslo –Algeta A/S has started a Phase III study of its bone-targeting radium-223 drug Alpharadin that will enrol 750 men with advanced, hormone-refractory prostate cancer (HRPC). The primary efficacy endpoint of the trial is...

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