Symphogen receives 5 Million Euro investment from Gilde Healthcare Partners.- Investment adds to company's previous financing round COPENHAGEN, Denmark -- Symphogen announced today that it has raised 5 million Euro (6.5 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) from Dutch venture capital fund Gilde Healthcare Partners. This investment is an addition to Symphogen's last financing round and brings the company's total amount of money raised to 85 million USD. "We are pleased that Gilde, a well-respected global private equity company experienced with European life science companies, has demonstrated its belief in Symphogen's recombinant polyclonal antibody technology through this investment," said Kirsten Drejer, Ph.D, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Symphogen. "This financing will help to move our lead program, Sym001, into human clinical trials for prevention of Hemolytic he·mo·lyt·ic adj. Destructive to red blood cells; hematolytic. Hemolytic Referring to the destruction of the cell membranes of red blood cells, resulting in the release of hemoglobin from the damaged cell. Disease in Newborns and for treatment of Idiopathic Thrombocytopenic Purpura Idiopathic Thrombocytopenic Purpura Definition Idiopathic thrombocytopenic purpura, or ITP, is a bleeding disorder caused by an abnormally low level of platelets in the patient's blood. , as well as to further advance additional Symphogen programs for vaccinia virus, anti-respiratory syncytial syncytial /syn·cy·tial/ (sin-sish´al) of or pertaining to a syncytium. syncytial pertaining to or producing a syncytium. bovine syncytial virus see retroviridae. virus, and oncology." "Symphogen's polyclonal antibody technology represents a totally new, innovative class of biopharmaceuticals and holds much promise for treating serious human diseases. We have followed Symphogen for some time and believe that the timing is right to invest, since the company is on the verge On the Verge (or The Geography of Yearning) is a play written by Eric Overmyer. It makes extensive use of esoteric language and pop culture references from the late nineteenth century to 1955. of initiating its first human clinical trial", said Dirk Kirsten, Investment Manager, of Gilde Healthcare Partners. About Symphogen Symphogen is the leader in developing recombinant polyclonal antibodies (pAb), a new class of biopharmaceuticals for the treatment of serious human diseases. By employing its pioneering antibody discovery and manufacturing technologies, Symphogen generates recombinant antibody compositions that capture the diversity and effectiveness of the natural immune system. Symphogen is building a proprietary product pipeline within several disease areas, including infectious diseases and cancer. Symphogen has established collaborations with international pharmaceutical companies. Symphogen's lead program, Sym001, in co-development with Biovitrum AB, is planned to enter clinical trials in 2007 and will be the first recombinant polyclonal antibody to enter clinical evaluation. Sym001 is targeting the treatments of Idiopathic Thrombocytopenic Purpura (ITP ITP - Intent to Package ) and Hemolytic Disease of Newborns (HDN HDN Hemolytic disease of the newborn, see there ). Symphogen is a private biopharmaceutical company with over 75 employees, based in Copenhagen, Denmark. Refer to www.symphogen.com for further information on Symphogen. |
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