Symphogen develops high-quality therapeutic antibodies via a proprietary discovery and research platform that has generated multiple drug candidates and five INDs in the past three years. The company intends to commercialize its platform through partnerships, out-licensing, or sale rather than pursuing large late-stage trials internally. Symphogen has collaborations with Servier in immuno-oncology and Genentech in infectious diseases. Management plans to prioritize the productive discovery engine and rely on partners for clinical development. To support this strategy the Board has proposed a capital raise and is simultaneously exploring strategic options including spin-offs or a potential sale. The company also proposed governance changes, including a reduction of the Board if approved by shareholders. Symphogen develops recombinant antibody mixtures as therapeutics, applying a proprietary mAb‑mix approach across oncology and immuno‑oncology programs. The company plans to use new financing to advance its lead clinical program, Sym004, which is in a multi‑center Phase 2b study in metastatic colorectal cancer patients resistant or refractory to anti‑EGFR therapies. It also intends to advance Sym013, a pan‑HER six‑antibody mixture targeting EGFR, HER2 and HER3, and Sym015, a two‑antibody MET candidate for MET‑amplified tumors, toward the clinic. The financing bolsters the company’s cash runway and supports ongoing clinical development and pipeline progression. Symphogen is led by CEO Kirsten Drejer and is based in Copenhagen, Denmark. Symphogen is a Copenhagen-based biopharmaceutical company developing recombinant antibody mixtures and antibody therapeutics for the treatment of cancer. Led by CEO Kirsten Drejer, the company has brought two product candidates into the clinic, and its lead oncology product Sym004 was out-licensed to Merck KGaA in 2012 following phase 2 clinical data in late-stage cancer patients. The company intends to use the funds to advance and expand its proprietary oncology product pipeline of antibody mixture products. Symphogen closed an additional €41m financing in which Novo A/S and PKA each invested €20m and Danica Pension participated. In total the company has raised €249m in equity capital from investors including Novo, Essex Woodlands Health Ventures and PKA. The company employs 90 people. Symphogen is a Copenhagen, Denmark–based biopharmaceutical firm focused on developing superior antibody therapeutics for cancer, infectious and autoimmune diseases. The company intends to use the financing to accelerate advancement of its lead clinical oncology product, Sym004, and other clinical and preclinical oncology programs for both proprietary development and partnering. Sym004 entered Phase 1/2 development in April 2010 in the US and Europe to evaluate safety, tolerability and efficacy for the treatment of advanced solid tumors. Symphogen is led by Kirsten Drejer, PhD, and maintains a US subsidiary in Princeton, New Jersey. In conjunction with the financing, Goran A. Ando, MD (senior advisor to Essex Woodlands and a Novo A/S board member) joined Symphogen’s board as chairman. The company closed a €100M financing to support its oncology pipeline.

Total raised

$345M

Funding rounds

4

Latest round

Equity

Latest activity

May 2019