Symphogen receives 5 Million Euro investment from Gilde Healthcare Partners
COPENHAGEN, Denmark – January 31, 2007. Symphogen announced today that it has raised 5 million Euro (6.5 million USD) from Dutch venture capital fund Gilde Healthcare Partners. This investment is an addition to Symphogen’s last financing round and brings the company’s total amount of money raised to 85 million USD.
“We are pleased that Gilde, a well-respected global private equity company experienced with European life science companies, has demonstrated its belief in Symphogen’s recombinant polyclonal antibody technology through this investment,” said Kirsten Drejer, Ph.D, CEO of Symphogen. “This financing will help to move our lead program, Sym001, into human clinical trials for prevention of Hemolytic Disease in Newborns and for treatment of Idiopathic Thrombocytopenic Purpura, as well as to further advance additional Symphogen programs for vaccinia virus, anti-respiratory syncytial virus, and oncology.”
“Symphogen’s polyclonal antibody technology represents a totally new, innovative class of biopharmaceuticals and holds much promise for treating serious human diseases. We have followed Symphogen for some time and believe that the timing is right to invest, since the company is on the verge of initiating its first human clinical trial”, said Dirk Kirsten, Investment Manager, of Gilde Healthcare Partners.
Symphogen is the leader in developing recombinant polyclonal antibodies (pAb), a new class of biopharmaceuticals for the treatment of serious human diseases. By employing its pioneering antibody discovery and manufacturing technologies, Symphogen generates recombinant antibody compositions that capture the diversity and effectiveness of the natural immune system. Symphogen is building a proprietary product pipeline within several disease areas, including infectious diseases and cancer. Symphogen has established collaborations with international pharmaceutical companies.
Symphogen’s lead program, Sym001,in co-development with Biovitrum AB, is planned to enter clinical trials in 2007 and will be the first recombinant polyclonal antibody to enter clinical evaluation. Sym001 is targeting the treatments of Idiopathic Thrombocytopenic Purpura (ITP) and Hemolytic Disease of Newborns (HDN).
Symphogen is a private biopharmaceutical company with over 75 employees, based in Copenhagen, Denmark. Refer to www.symphogen.com for further information on Symphogen.