Investinor leads NOK 37.5m round in BerGenBio

Investinor contributed with NOK 10m. Included in the funding round were co-investors Trond Mohn/Meteva, Sarsia Seed and Birk Venture.

Investinor, which first invested in BerGenBio in January 2012, is the largest stakeholder in the company. The initial series-A financing round of $8.8m was led by Sarsia Seed and Investinor.

With this investment, Investinor has injected NOK 32m in total into its portfolio company to date.

The fresh capital will be used for the phase one clinical trial of BGB324, the first compound in BerGenBio's pipeline to enter clinical trials.

Company
BerGenBio is a biotechnology company that was spun out from University of Bergen in 2008.

The company develops therapeutics that inhibit epithelial-me4senchymal transition, preventing the formation of cancer stem cells and disrupting the important mechanisms of acquired cancer drug resistance.

People
Ann-Tove Kongsnes is investment director at Investinor.

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