Symphogen seeks further investment

Danish biotechnology firm Symphogen has announced that it is looking to raise around E10m in a third round of funding before the end of the year. The company, which already has LD Pension, SLS Venture and Novo A/S among its shareholders, is looking to new investors for the funding. Symphogen, which raised $25m last year, currently has a burn rate of around $1m per month. To date, the firm has raised $53m and venture capital backers hold around 80% of the shares. Symphogen's main product is a treatment of idiopathic thrombocytopenic purpura, an automotive disease where by the body's blood platelets are destroyed.

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