Symphogen A/S Acquires Receptor BioLogix, Inc. Technology
January 29, 2009
COPENHAGEN, Denmark & PALO ALTO, Calif.--(BUSINESS WIRE)--Symphogen A/S and Receptor BioLogix, Inc.,(Receptor) announced today that Symphogen has acquired the technology and programs of Receptor BioLogix. Symphogen is a leader in developing recombinant polyclonal antibodies, a new class of biopharmaceuticals, and Receptor BioLogix is a pioneer in developing pan-HER ligand traps to treat cancer and other diseases. Both companies are privately owned.
"Receptor BioLogix's innovative pan-HER ligand trap technology is an excellent fit with our scientific and strategic focus," said Kirsten Drejer, Ph.D., CEO of Symphogen. "We are developing novel biologics explicitly designed to address disease complexity, with the goal of achieving better efficacy than single-targeted drugs that fail to account for the complex nature of many diseases. We expect our established infrastructure and highly relevant expertise in developing complex biologics will facilitate the rapid progress of the pan-HER cancer program, which we believe has breakthrough potential."
The complex HER (human EGF receptor) family of receptors and growth factor ligands is dysregulated in about half of all solid cancers. Receptor BioLogix's pan-HER ligand traps are engineered proteins combining an antibody-like element along with multiple HER receptors. They are designed to block the diverse ligands that stimulate tumor growth. A recent scientific publication needs reference confirmed that the company's pan-HER ligand traps can successfully trap, multiple tumor-promoting HER ligands and achieve a range of anti-tumor effects. Receptor BioLogix's pan-HER ligand traps are in pre-clinical development.
"Symphogen brings first-class scientific, drug development and manufacturing expertise to our exciting pan-HER program," said Dale R. Pfost, Ph.D., former CEO of Receptor BioLogix. "Our team has done an outstanding job of advancing our pan-HER ligand traps in the past months, and we concluded that the advantages of now combining our assets with an organization with an analogous approach and greater resources were compelling-we see strong synergies between the two firms. We believe our pan-HER ligand traps have the potential to transform the treatment of HER-related cancers and that Symphogen is an ideal company to take them to the next stage."
Financial details of the transaction were not disclosed.
Symphogen is the leader in developing recombinant polyclonal antibodies (pAb), a new class of biopharmaceuticals for the treatment of serious human diseases. By employing its pioneering antibody discovery and manufacturing technologies, Symphogen generates recombinant antibody compositions that capture the diversity and effectiveness of the natural immune system. Symphogen is building a proprietary product pipeline within several disease areas, including infectious diseases and cancer. Symphogen is a private biopharmaceutical company with over 70 employees, based in Copenhagen, Denmark. Refer to www.symphogen.com for further information on Symphogen.
About Receptor BioLogix
Receptor BioLogix has applied its expertise in human EGF receptor (HER) pathways and receptor-based biologics to develop novel pan-HER ligand traps for cancer and other diseases. The company's pan-HER ligand traps are engineered proteins specifically designed to inhibit the compensatory feedback mechanisms that limit the efficacy and durability of many cancer drugs.
Symphogen Kirsten Drejer, +45 45 26 50 59 or +45 22 10 99 59 (cell) CEO [email protected] or Symphogen Thomas Feldthus, +45 22 10 99 57 (cell) CFO of Symphogen [email protected] or Receptor BioLogix Janet I. Swearson, 650-856-4646; CFO [email protected]