Symphogen AS gets €100mm in largest-ever European biotech fundraising event; adds €41mm

In the largest private financing to date by a European biotech, Symphogen SA (antibody therapeutics for cancer and infectious diseases) has raised €100mm ($131mm). Returning shareholder Novo AS led the three-tranche round and was joined by other existing investors Essex Woodlands Fund (both provided €35mm) and first-time backer Danish Pension Fund. Symphogen will use the funding for ongoing development of its lead oncology candidate Sym004, which is currently in Phase I/II for solid tumors, as well as additional pipeline development. Since its founding in 2000, the company has raised €208mm. Novo Nordisk’s Goran A. Ando, MD, will take over as chairman of the board.