The Copenhagen based Symphogen announced the closing of a € 33 million (approximately U.S. $44 million) financing. Existing investors participated in the round, which was led by Essex Woodlands Health Ventures. The financing will be used to mature the company’s product pipeline of antibody therapeutics, particularly within the field of oncology. The funding will support the advancement of Sym004, towards early clinical studies.
Symphogen has an interesting polyclonal antibody (pAb) platform and their lead candidate, Sym004, is quite promising. It’s is a recombinant IgG1 antibody product consisting of two antibodies against the epidermal growth factor receptor (EGFR). Similar to marketed monoclonal antibodies, Sym004 inhibits cancer cells in vitro by inhibition of ligand binding, receptor activation and downstream signaling. Additionally, Sym004 induces rapid and efficient internalization and degradation of the EGF receptor due to the simultaneous binding of full length Sym004 antibodies to non-overlapping epitopes. This removal of the EGF receptor leads to a superior anti-tumor response of Sym004 as compared to marketed monoclonal EGFR antibodies in vitro and in vivo.
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February 6, 2009 at 3:17 am
[...] Symphogen secured Eur 33 million (about $44 million) to support clinical development of its polyclonal antibody products. The financing ...