Clavis Pharma ASA raises fresh capital to push clincial pipeline


Oslo – Norwegian cancer specialist Clavis Pharma ASA has raised EUR 19 million through a private placement of 4,400,000 new shares in two tranches, each with a par value of NOK 1.00 at a price of NOK 35.00 per share. CEO Olav Hellebø said the fresh capital will be used to push the NDA, including a pivotal Phase III trial of Clavis lipid-formulated chemotherapeutic elacytarabine (CP-4055) in late-stage Akute Myeolid Leukemia (AML), its Phase II candidate CP-4126 (a novel lipid vector technology analogue of gemcitabine) in pancreatic cancer partnered with Clovis Oncology and its preclinical DNA-methylation modulator CP-4200 (an azacytidine derivative). Clavis clinical-stage drug candidates rely on a new lipid vector technology enabling chemotherapeutic to enter cancer cells without requiring membrane expression of the transport protein hENT1 (human equilibrative nucleoside transporter 1) that is often lacking on cancer cell membranes, leading to therapy resistance. In a Phase II trial, CP-4055 tripled median survival (5.3 months vs. 1.5 months), increased remission rate significantly (18% vs 4.1%, p<0.0001) and lowered short-term mortality from 25% for historical controls to 13%. One week before before its private placement, which was oversubscribed and represents 17.3% of the current outstanding share capital, Clavis had expanded its commercialisation agreement from 2009 (up to $380 million in milestone payments plus royalties) on its pancreatic cancer drug CP-4126 with US-based Clovis Oncology, Inc. Under the terms of the agreement Clavis has received a US$10 million upfront and will be eligible to receive further payments totalling $30 million for the successful attainment of development and regulatory milestones in Asia plus up to $165 million in sales milestones. Clavis Pharma will receive tiered double-digit royalties on all product sales globally.



With a bold approach, including next-generation DNA sequencing (NGS) and state-of-the-art biobanking systems, Norway is pushing forward personalised cancer treatments in its national health care system. Clinical-quality genome...



Bionor Pharma ASA’s development of an HIV vaccine is back on track. In mid-February, the Oslo-based company announced positive results from a Phase IIb study. When combined with antiretroviral treatment, the Vacc-4x vaccine...



Oslo – The north lights up with financial flares. Norwegian cancer specialist Clavis Pharma ASA has raised €21m through a placement of new shares. The 2.8 million shares represent approximately 9.4% of the current stock in the...



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...



Reykjavik – Iceland’s deCODE Genetics, which Arch Venture Partners and Polaris Venture Partners lifted out of bankruptcy in January 2010, has been making a comeback of late. In mid-October, the genome analyser announced it had...



Oslo/Leverkusen – Norwegian radiotherapy specialist Algeta ASA and German drugmaker Bayer have presented new data on their cancer drug alpharadin. The radium-223-chloride pharmaceutical showed an increased overall survival rate...



Lysaker/Osaka - Pronova Biopharma SA is set on entering the Japanese market with its TAK-085 (omega-3-acid ethyl esters 90) for the treatment of hyperlipidemia. Pronova's partner Takeda Pharmaceutical Company Limited submitted a...



Laskut/Berlin – Researchers from Finland’s Technical Research Center VTT and the Charité Hospital in the German capital have come a step closer to a personalised diagnostic test for cancer. Matej Orešic (VTT) and Carsten Denkert...



Oslo – Norwegian cancer drug development company Clavis Pharma ASA will receive a grant from the Norwegian government for the development of a companion diagnostic in acute myeloid leuk­aemia (AML). The Research Council of Norway...



Oslo – Clavis Pharma ASA has signed a licensing deal with US firm Translational Therapeutics, Inc., for the development and commercialization of CP-4033, a patented Lipid Vector Technology (LVT) derivative of ribavirin under...

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