Antisense Pharma lands $38M in VC

Germany's Antisense Pharma has landed €27 million ($38 million) from the VC-funds of MIG Fonds, a fund initiator of closed-end venture capital funds that raises capital for and invests in private companies. Antisense said it will use the round to further development of its lead compound AP 12009, which is currently in Phase II. Preparations for a 2008 Phase III trial are under way.

"We are concentrating our research and development activities on cancer indications with particularly high unmet medical need. The lead compound AP 12009 has exceeded by far our expectations in the international Phase II clinical trial," explained Dr. Karl-Hermann Schlingensiepen.

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