COPENHAGEN, Denmark (November 30, 2017)
Symphogen, a private clinical late-stage antibody oncology-focused company with a novel and differentiated antibody mixture pipeline, announced today that the company has received a $5 million milestone payment from Genentech, a member of the Roche Group, triggered by the initiation of a Phase 1b clinical trial evaluating DSTA4637S, an investigational medicine containing a Symphogen-generated antibody conjugated to an antibiotic agent for the potential treatment of Staphylococcus aureus (S.aureus) infections.
The antibody was originally discovered by isolating antibodies from individuals exposed to S.aureus using Symphogen's patented Symplex technology.
Commenting on the announcement, Chief Executive Officer of Symphogen, Martin Olin, said: "Genentech's decision to move this exciting new investigational medicine forward is an important advancement for Symphogen's technology platform which underpins our antibody discovery and development work. S. aureus is recognized by the WHO and CDC as one of the most important resistant bacteria for which there is a serious need for new treatments. This represents an important step forward in addressing the unmet need associated with serious S. aureus infections, potentially improving outcomes for patients with the disease."
About Symphogen A/S
Symphogen is a private biopharmaceutical company leading the field of recombinant antibody mixtures for therapeutic use in oncology. Symphogen is dedicated to bringing truly innovative oncology products to the market, creating optimally selected antibody mixtures that address multiple oncology targets in a single drug product. The company has collaborations for the development of antibody therapeutics in the infectious disease area with Genentech, and in immuno-oncology with Shire. Symphogen has offices in Denmark and New Jersey, US and its investors include Essex Woodlands Health Ventures, Novo A/S, PKA, Sunstone Capital, Gilde Healthcare Partners, Danica Pension, Takeda Ventures, Inc., and Genentech. For more information, please see www.symphogen.com
For additional information, please contact:
Martin Olin, Chief Executive Officer
Phone: +45 40 21 85 32
Consilium Strategic Communications
Phone: +44 20 3709 5700