BerGenBio raises NOK 212 million
Investinor’s portfolio company BerGenBio has secured a capital raise of NOK 212 million (c. $25 million) in a private placement from existing shareholders, including Investinor AS and Meteva AS.
BerGenBio AS is a clinical stage biopharmaceutical company focused on developing first-in-class drugs for aggressive cancers.
BerGenBio will use the proceeds and its existing cash balance to progress the development of Company’s pipeline of innovative cancer therapeutics in particular, its lead asset BGB324, a first-in-class Axl kinase inhibitor.
BGB324 is currently being evaluated in a Phase 1b trial in patients with acute myeloid leukaemia (AML); and in a Phase 1b trial in patients with Stage IIIb and Stage IV non-small cell lung cancer (NSCLC).
BGB324 is the first selective, orally bioavailable, small molecule Axl kinase inhibitor in clinical development. It blocks the epithelial-mesenchymal transition (EMT), which is a key driver in immune evasion, drug-resistance and metastasis in cancers.
Richard Godfrey, Chief Executive Officer of BerGenBio, comments:
“We are grateful to our shareholders for their continued support. The proceeds will be used primarily to support the ongoing clinical development of our lead asset BGB324, as we prepare to open several phase II combination trials”.
BerGenBio has also appointed Stein H. Annexstad, Kari Grønås and Sveinung Hole as Non-Executive Directors to the Company’s Board.
John Barrie Ward and David Wilson have subsequently stepped down from the Board.
For further information please contact:
BerGenBio AS
+47 917 86 304
Richard Godfrey, CEO
About BerGenBio AS
BerGenBio AS is a clinical stage biopharmaceutical company focused on developing first-in-class drugs for aggressive cancers.
The company is a world leader in understanding the biology of epithelial-mesenchymal transition (EMT), a widely recognised key pathway in immune evasion, acquired cancer drug-resistance and metastasis.
BerGenBio AS is founded on proprietary platform technology, CellSelect™, to identify and validate novel drug targets and biomarkers.
The company has progressed its lead drug candidate BGB324, an EMT inhibitor, into clinical trials in AML and NSCLC, while pursuing the pre-clinical development of additional compounds and proprietary EMT drug targets.
Learn more: www.bergenbio.com
