Date: 2014-02-05
Type of information: Private placement
Company: BerGenBio (Norway)
Investors:
Amount: NOK75 million (€ 10 million)
Funding type: private placement
Planned used: Proceeds from the financing will be used to support the development of the Company’s portfolio of innovative cancer therapeutics. This includes the on-going clinical development of its lead drug candidate, BGB324, a first-in-class selective Axl kinase inhibitor, which is currently in Phase Ib clinical studies to evaluate its safety and initial signs of efficacy to treat different cancers as a single agent and in combination with other drugs. The funds raised will be used to complete these studies, data from which is anticipated in 2015. BGB324 is the only selective Axl receptor tyrosine kinase inhibitor in clinical development to target tumor epithelial-mesenchymal transition (EMT) and has a potential application as a novel treatment for drug-resistant solid and hematological cancers, including non-small cell lung cancer and acute myeloid leukemia. The Company will also invest further in the drug candidate development of pipeline programs BGB001 and BGB002.
Others: * On February 5, 2014, BerGenBio, an oncology biopharmaceutical company, has announced that it has raised NOK75 million (€10 million) from a syndicate of new and existing investors through a private placement. This follows a $6.0 million round in May 2013.
Therapeutic area: Cancer - Oncology
