arGEN-X secures €27.5m series-B funding

The oversubscribed all-equity round also saw commitments from existing investors Forbion Capital Partners, Credit Agricole Private Equity, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital and VIB.

The new capital will be used to support arGEN-X's business plan over the next three years with a focus on progressing two programs into the clinical trial stage.

arGEN-X has attracted €43.8m in funding from previous rounds.

Company
arGEN-X is a Rotterdam-based biopharmaceutical firm, which is specialised in the discovery and development of human monoclonal antibodies. It uses its patented SIMPLE Antibody platform (Super Immunodiversity with Minimal Protein Lead Engineering) based on target antigens of Camelids to match antibodies as closely as possible to human antibodies. arGEN-X focuses on preclinical development of pharmaceuticals.

At present, the business runs five therapeutic programs, two of which are in formal preclinical development, that address autoimmune disorders, inflammation and oncology. The company expects to file an application for its most advanced product, ARGX-110, in 2013.

People
Dr Mike Sheffrey, who led the deal for OrbiMed, will be joining the supervisory board of arGEN-X. Isabelle de Cremoux led the deal on behalf of Seventure. Tim van Hauwermeiren is the CEO of arGEN-X.

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