Symphogen attracts investors
Copenhagen - Symphogen A/S, a Danish company developing recombinant human polyclonal antibodies for the treatment of several human diseases, has raised Euro20.7 million in a Series D financing round. Participators were existing investors including Essex Woodlands Health Ventures (USA), Scandinavian Life Sciences (SLS) Venture, Novo A/S and Vaekstfonden together with Takeda Research Investment Inc. (TRI). The money is be used to carry out the first stage of clinical trials of Symphogen's lead candidate anti-RhD for the treatment of idiopathic thrombocytopenic purpura (ITP) and hemolytic disease of the newborn (HND).
Since May last year Symphogen has already co-operated for this product (sym001), consisting of 25 distinct antibodies, with the Swedish company Biovitrum AB to produce it according to GMP standards and in sufficient amounts to enter Phase I/II clinical trials.
Now this Danish-Swedish collaboration was expanded: Symphogen has signed a co-development and commercialization agreement with Biovitrum for sym001. Symphogen will receive an initial technology access fee from Biovitrum and milestone payments based on the progress of the programme. The developing costs will be shared equally.