Date: 2016-03-18
Type of information: Capital increase
Company: BerGenBio (Norway)
Investors: existing shareholders, including Investinor AS and Meteva AS
Amount: NOK212 million (€ 22.51 million)
Funding type: capital increase
Planned used: BerGenBio will use the proceeds and its existing cash balance to progress the development of the Company’s pipeline of innovative cancer therapeutics, in particular its lead asset BGB324, a first-in-class Axl kinase inhibitor. BGB324 is currently being evaluated in a Phase 1b trial in patients with acute myeloid leukaemia ; and in a Phase 1b trial in patients with Stage IIIb and Stage IV non small cell lung cancer . BGB324 is a selective, orally bioavailable, small molecule Axl kinase inhibitor. It blocks the epithelial-mesenchymal transition (EMT), which is a key driver in immune evasion, drug-resistance and metastasis in cancers.
Others: * On March 18, 2016, BerGenBio has announced that it has secured a capital raise of NOK212 million in a private placement from existing shareholders, including Investinor AS and Meteva AS. BerGenBio also announced that John Barrie Ward and David Wilson have stepped down from the Board of Directors. Stein H. Annexstad, Kari Grønås and Sveinung Hole have been appointed as new Non-Executive Directors. Susan Foden has stepped down as Chair but remains a Non-Executive Director, while Hilde Furberg has been appointed as Chair of the Board of Directors.
Therapeutic area: Cancer - Oncology
