Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


Santaris Pharma raises €20 million of new equity


Copenhagen, 18th December 2007 – Santaris Pharma, the Danish biopharmaceutical company, announced today that it has completed a new €20.4 million (DKK 152 million, US$ 30 million) private investment round. Gilde Healthcare Partners, a new investor in the Company, contributed € 7.5 million (DKK 56 million, US$ 11million) of the financing, with the remaining €12.9 million (DKK 96 million, US$ 19 million) provided by a strong international syndicate of existing investors, including BankInvest, Novo, LD, Forbion Capital Partners, Global Life Science Venture, Sunstone Capital, Seventure, Omega, Innovation Capital and members of the Company’s board and management.

In connection with the financing Edwin de Graaf from Gilde Healthcare Partners will join the Board of Directors of Santaris Pharma.

The proceeds of the financing will be used primarily to fund continued development of Santaris Pharma’s pipeline of innovative RNA antagonist drug candidates based on its breakthrough LNA chemistry. In 2008 the Company expects to advance its SPC2996 compound, an RNA Antagonist of Bcl-2, into Phase II clinical trials in Chronic Lymphocytic Leukaemia and B-cell Lymphoma and to initiate phase I volunteer studies of two new RNA antagonists for the treatment of metabolic disorders.

Following the completion of the Series C Financing Round the Company’s cash reserve is more than € 40 million.

In announcing the Series C Financing, Keith McCullagh, Santaris Pharma’s CEO, said:

“We are delighted to welcome Gilde Healthcare Partners as a new shareholder in Santaris Pharma. This Series C financing provides the Company with an additional €20m of cash reserves, sufficient to fund operations through to the end of 2009 without additional financing or income from new corporate collaborations. I am also pleased to say that our existing investors, together with all members of the management team and several members of our Board, have also invested in this round.”

Edwin de Graaf, General Partner of Gilde Healthcare Partners, said:

“Gilde Healthcare Partners invests in biopharmaceutical companies with strong technology platforms and experienced management. In our view, Santaris Pharma is well positioned to become a leader in the RNA inhibition field. We are impressed by how quickly they have built a highly promising pipeline of products, which will be validated in the clinic using the proceeds of this financing round.”

- Ends -


Santaris Pharma Forward-Looking Statements

This written announcement contains forward-looking statements, identified by the use of words such as 'believes,' 'expects,' 'may,' 'will,' 'should', 'potential,' 'anticipates,' 'plans' or 'intends' and similar expressions. Such forward-looking statements involve risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from the future results, events or developments indicated in this announcement. Such factors include, but are not limited to the timing, success and cost of clinical studies; the ability to obtain regulatory approval of products, market acceptance of and future demand for Santaris products and the impact of competitive products and pricing. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. No assurance can be given that the future results covered by the forward-looking statements will be achieved. All information in this press release is as of the date of this press release and Santaris does not intend to update this information.

For further information, please contact:

Randi Krogsgaard, Director, Corporate Communications, Santaris Pharma
Direct phone +45 4517 9879
E-mail: rmk@santaris.com

Henrik Stage, VP Finance and Administration & CFO, Santaris Pharma
Tel: +45 4517 9888
E-mail: hs@santaris.com

For UK media relations, please contact:

College Hill Life Sciences
Adam Mich


Publisher Contact Information:

Santaris Pharma A/S
+45 4517 9888
hs@santaris.com

Company profile of Santaris Pharma A/S (acquired by Roche)
Past press releases of Santaris Pharma A/S (acquired by Roche).

Data


26,368
Tech investments
From our Online Data Service
17,022
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Nov 15€2.4MMaterials
Nov 15€6.0MArtificial Intelligence
Nov 15€3.5MSoftware development
Nov 15N/AInternet services
Nov 14€4.5MOther Software
Nov 14€4.7MBusiness applications
Nov 14€9.0MKnowledge management

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Oct 1
The Link App
the link app launches version 2.0

Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.