Antibodies specialist raises 17.5 million pounds - News - Life Sciences - Business Weekly

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Antibodies specialist raises 17.5 million pounds

Written by Tony Quested
Wednesday, 12 March 2008
Dutch-owned Cambridge antibodies specialist PanGenetics has raised 23 Million Euro (£17.5m) in Series C financing to fund clinical advancement of its therapeutic antibody programmes. The round was led by Edmond de Rothschild Investment Partners (EdRIP), with participation from Biogen Idec New Ventures and Fortis Private Equity, as well as existing series B investors Index Ventures, Forbion Capital Partners and Credit Agricole Private Equity. The capital raised represents one of the largest private rounds in the Dutch biotech industry, and will fund the clinical progression of PanGenetics’ therapeutic antibody programmes PG102 and PG110, as well as progressing programs at an earlier stage. A phase I study of the company’s CD40 antagonist PG102 in psoriatic arthritis patients is expected to start mid year. The chimeric version of the molecule has already been successfully evaluated in an open label study in Crohn’s Disease patients, and the planned double blind, placebo controlled single ascending dose study will read out in the middle of 2009. PG110, a humanised antibody targeting nerve growth factor (NGF), is currently in full preclinical development, after which it will enter a double blind, placebo controlled study in patients suffering from chronic pain. The design of this study will be geared towards clinical proof of concept and results are anticipated in late 2009. PanGenetics is headquartered in Utrecht with an office near Cambridge in the UK. The company specialises in taking antibodies at the late research stage through to clinical proof of concept. The company employs a lean business model with most development activities outsourced to specialist providers in Europe. The management, board and advisers comprise many of the world’s leading antibody developers. Set as favorite Bookmark Email This Hits: 465 Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form This content has been locked. You can no longer post any comment.