COPENHAGEN, Denmark, January 14, 2014 /PRNewswire/ --
Symphogen A/S, a private biopharmaceutical company with leadership in recombinant antibody mixtures for therapeutic use, today presented its achievements in 2013 and outlook for 2014 at JP Morgan's 32nd Annual Healthcare Conference in San Francisco, California. The presentation was made by Kirsten Drejer, CEO.
Symphogen has continued to expand its oncology pipeline to include projects that simultaneously address targets on cancer cells along with targets in the tumor microenvironment.
Symphogen's lead oncology product, Sym004, which was out-licensed to Merck KGaA in 2012, continues to produce new data. At ASCO in June 2013, study results in patients with metastatic Colorectal Cancer (mCRC) and Squamous Cell Carcinoma of the Head and Neck Cancer (SCCHN) were presented. The program is advancing towards investigational new drug applications across a variety of indications.
Symphogen is accelerating its development plans for pan-HER and expects to file an IND in 2015.
Symphogen's Board was further strengthened in December 2013 by the appointment of Annika Espander Jansson as a non-executive Director of the Company. Annika brings strong financial acumen from her experience both as a sell-side analyst in the healthcare sector and as an investor.
Symphogen remains strongly financed. During 2013, the Company completed a €141 equity financing from top-tier investors and has a current cash position of €100 million.
During the first half of 2014, Symphogen will relocate to a new domicile in Denmark where manufacturing facilities will enable the Company to produce antibodies for early clinical development.
Kirsten Drejer, PhD., Symphogen's Chief Executive Officer, commented: "In 2013 Symphogen advanced its pipeline of novel antibody therapeutics for the treatment of cancer. Our investors continued to support Symphogen's strategy to become a leading European oncology-focused biotech company and we look forward to expanding our capabilities in our new up-to-date facilities."
About Symphogen A/S
Symphogen is developing next-generation antibody therapeutics for the treatment of cancer and is dedicated to bringing truly innovative oncology products to the market.
The Company has advanced the frontier of antibody discovery by creating well-characterized antibody mixtures that address multiple oncology targets in a single drug product. The Company has matured its oncology pipeline and has currently brought two product candidates into the clinic. The Company's productive technology suite - capable of identifying, selecting and manufacturing optimal antibody mixtures - fuels Symphogen's innovative pipeline.
The lead oncology product, Sym004, was out-licensed to Merck KGaA in 2012 following phase 2 clinical data in late stage cancer patients.
In total, the Company has raised €249 million in equity capital from premier international investors including Novo, Essex Woodlands Health Ventures and PKA, and employs 100 people, most of whom are based at Symphogen's facilities in Copenhagen.
For additional information, please contact:
Chief Executive Officer
Chief Financial Officer
Consilium Strategic Communications
Mary-Jane Elliott, Amber Bielecka
SOURCE SYMPHOGEN A/S