Symphogen Closes Third Financing Round Worth $25 Million
Copenhagen - A series C financing round involving existing investors will bring $25 million into the coffers of Copenhagen-based Symphogen A/S. The investors, who are participating pro rata are Essex Woodlands Health Ventures, Scandinavian Life Science Venture, Novo A/S, LD Pensions and Vaekstfonden.
“Our investors appreciate the opportunity that exists within the medical marketplace for target-specific recombinant natural human antibodies,” commented Dr. Kirsten Drejer, Chief Executive Officer of Symphogen A/S, on the financial milestone. Investors like Martin Edwards, Partner at Novo A/S, considered it an important achievement that Symphogen has brought its first product to the stage of upscaling manufacturing in preparation for clinical trials.
The Danish company had entered an agreement with Swedish Biovitrum AB in May involving process development and production of a rhesus D-specific human recombinant polyclonal antibody for clinical studies on the prevention of haemolytic disease in newborns (see EuroBiotechNews 6/04).