2:32 PM
 | 
May 13, 2019
 |  BC Extra  |  Financial News

Philogen bypasses VCs, taps Italian syndicate for €62M to fuel late stage cancer programs

With €62 million ($69.6 million) in series A cash to carry its two late-stage candidates through clinical development, Philogen will soon have to decide whether to rely on additional deals to find commercialization partners, or establish its own sales force.

The funds will push the company's two lead candidates through to registration, Philogen S.p.A. (Siena, Italy) co-founder Dario Neri told BioCentury. Both use antibody fusion constructs to deliver cytokine payloads; Daromun (L19IL2/L19TNF) is in a Phase III trial for fully resectable stage III B/C melanoma, while Fibromun (L19-TNF) is in a Phase III study to treat metastatic soft tissue sarcoma.

The Neri family has been among Philogen's financial backers throughout its 23-year history; several family members co-founded the company and have steered its direction. Dario...

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