BerGenBio is a clinical-stage biopharmaceutical company based in Bergen, Norway, focused on developing treatments for aggressive cancers. Its lead asset, BGB324, is an Axl kinase inhibitor designed to block epithelial-mesenchymal transition (EMT), a pathway linked to immune evasion, drug resistance, and metastasis. BGB324 is being evaluated in Phase 1b trials in patients with acute myeloid leukaemia (AML) and in Stage IIIb and Stage IV non-small cell lung cancer (NSCLC). The company is founded on a proprietary platform, CellSelect™, used to identify and validate novel drug targets and biomarkers. BerGenBio intends to use newly secured funding to progress its pipeline, with particular focus on advancing BGB324. Richard Godfrey serves as Chief Executive Officer and the company announced several board changes alongside the financing. BerGenBio is an oncology biopharmaceutical company based in Bergen, Norway, focused on developing innovative cancer therapeutics. Its lead candidate, BGB324, is a selective Axl kinase inhibitor currently in Phase Ib clinical studies assessing safety and initial signs of efficacy as a single agent and in combination with other drugs. The company’s pipeline also includes preclinical programs BGB001 and BGB002. BerGenBio is led by CEO Richard Godfrey. The company raised NOK75m (approximately $12.5m) in funding to advance development of its portfolio. The proceeds are intended to support continued clinical and preclinical development of its cancer therapeutics. BerGenBio is an oncology-based biopharmaceutical company in Bergen, Norway focused on pursuing novel therapeutic treatments for cancer. Its lead program is BGB324, a first-in-class AXL kinase inhibitor that inhibited tumour development in preclinical AML models and blocks epithelial–mesenchymal transition (EMT). The company states AXL inhibition has potential to delay or prevent metastasis, overcome or reverse acquired chemotherapy resistance, and possibly prevent cancer recurrence. BerGenBio also has a proprietary CellSelect™ platform that uses RNAi screening information to identify novel drug targets and plans a pipeline of oncology therapeutics to advance through to phase II in partnership with industry leaders. The new $8.8M Series A financing will primarily fund completion of preclinical work, taking BGB324 into the clinic by the end of 2012 and the development of an AXL companion diagnostic/biomarker. The company’s investors include Investinor, Sarsia Seed, Sarsia Development, Norsk Innovasjonskapital, Birk Venture, Meteva and employees. BerGenBio develops the CellSelect™ RNAi discovery platform to identify novel drug targets involved in cancer and to inform new treatment paradigms. The CellSelect technology uses information from RNAi screening studies and the company has deep expertise in tumor micro-environment, epithelial–mesenchymal transition (EMT) and mechanisms of drug resistance. BerGenBio offers technology access via fee-for-service, discovery collaborations, and is developing its own therapeutics through to phase II. The company recently secured NOK7 million from local Sarsia Seed and Development funds and has also received grants from Innovation Norway and FORNY, with additional support from the NFR for graduate PhD studies. Management says the financing will be used to further develop the CellSelect platform, increase contract service revenue and advance the company’s internal pipeline. The company is based in Bergen, Norway and was founded on the proprietary CellSelect platform technology.

Total raised

$48M

Funding rounds

4

Latest round

Equity

Latest activity

Mar 2016