Symphogen raises EUR 67.5M in convertible debt

Symphogen A/S (Copenhagen, Denmark) raised EUR 67.5 million ($76.6 million) in convertible debt led by existing investors Novo A/S and Danish pension fund PKA. Existing investors including pension fund Danica; Essex Woodlands; and Sunstone Capital also participated. The deal gives Symphogen a cash position of EUR 110 million ($124.9 million).

Next year, Symphogen expects data from a Phase IIb trial of lead program Sym004 to treat metastatic colorectal cancer. The therapy is a combination of two anti- EGFR mAbs against two distinct and non-overlapping epitopes in the extracellular domain III of EGFR. ...