ANTISENSE PHARMA GmbH Announces $38 Million Venture Capital
Regensburg/Munich, November 8, 2007 â€“ Antisense Pharma GmbH, biotech leader in the development of targeted therapies for malignant tumors, receives venture capital amounting to EUR 27 million (USD 38 million) from the VC-funds of the MIG AG. The company will employ these funds to foster the development of its lead compound AP 12009 towards approval. Preparations for the last clinical trial phase are under way.
The signing of the investment agreement represents one of the biggest VC deals in the biotechnology sector within the last years, sealing a successful partnership among the contracting partners extending over several years. â€œMIG Fonds and its investors pursue a long-term and lasting investment strategy. The renewed commitment strengthens our status as innovator in the field of cancer therapies,â€ said Dr. Karl-Hermann Schlingensiepen, Chief Executive Officer, Antisense Pharma. Independent benchmarks, preceding the financial agreement, demonstrated the companyÂ´s potential as a market leader in the field of targeted cancer therapies. Michael Motschman, Head of DirectorsÂ´ Board of the MIG Verwaltungs AG added: â€œThe decision in favour of Antisense Pharma as the lead investment of our newly established MIG Fonds 5 is based on the recent clinical success, the companyÂ´s steady and continuous business development and its high potential to significantly increase in value.â€
The company is applying its therapeutic expertise in developing drugs to treat cancerous diseases for which treatment options are limited, as for example brain tumor and pancreatic carcinoma. â€œWe 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,â€ explained Dr. Karl-Hermann Schlingensiepen. Patients from this study experienced long-lasting tumor responses up to complete remissions. â€œIt is our explicit goal, to make this drug available to all patients as soon as possible,â€ added Dr. Schlingensiepen.
Consequently, a further milestone in company development is the launch of the Phase III study for brain tumor patients in 2008. Dr. Hubert Heinrichs, Chief Medical Officer, Antisense Pharma, stressed: â€œOnly a small number of European biotechnology companies carry out international Phase III-studies in cancer. This underlines the leading role of Antisense Pharma in the development of anticancer drugs. The investment of MIG Fonds and their investors provide the economic basis for the last phase of clinical development until reaching the market.â€ About Antisense Pharma GmbH
Antisense Pharma is a pioneer in the development of antisense drugs. Discovered with the help of modern platform technology, the drugs effectively prevent disease-associated proteins to originate. This allows to tackle fatal diseases like cancer at their roots - fighting them causally rather than symptomatically.
The product pipeline comprises agents against malignant brain tumors, colorectal carcinoma, pancreatic carcinoma and malignant melanoma as well as other forms of tumors in various stages of clinical and pre-clinical development. Antisense Pharma has been awarded the Bavarian Innovation Prize as well as the German Founders Award. In addition to MIG-Fonds and along with private investors other venture capital companies like Global Chance Fund, Global Asset Fund, S-Refit, TechnologiebeteiligungsGesellschaft mbH and the Techonologie Beteiligunsgfonds GmbH & Co. KG. are actively involved in Antisense Pharma. Further information is available on the internet at www.antisense-pharma.com.
About MIG Verwaltungs AG
The MIG Verwaltungs AG is a fund initiator of closed-end venture capital funds, which raises capital for and invests in innovative, medium-sized companies which are not publicly listed. In turn they acquire direct shares in the company. The newly established MIG 5 Fonds has a placement volume of â‚¬70 million. The new share and investment offer is expected to close latest on 31.12.2008. The MIG 1 through MIG 3 Fonds have successfully issued all their shares. More detailed information about MIG and its investment portfolio can be found on the website www.mig-fonds.de.
About Alfred Wieder AG
Alfred Wieder AG is the appointed exclusive trading agent of MIG Fonds. Investors interested in purchasing shares are therefore requested to contact Alfred Wieder AG directly. The Alfred Wieder AG has extensive expertise in the VC-financing of biotechnology and medical technology firms. The core competence of Alfred Wieder AG lies in selling and delivering of financial services and providing corporate financial advice. Furthermore, the company's team of highly skilled experts represents a range of diverse educational and professional backgrounds a combination from the field of law, accounts and investment. Further relevant information is available on their website www.alfred-wieder.ag.
Disclaimer This document contains forward-looking statements with respect to the future business of Antisense Pharma GmbH. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that could occur in the future. There is a number of factors that could cause actual results and developments to differ materially. Antisense Pharma GmbH disclaims any intent of obligation to update any of these forward-looking statements.