By E. Janene Geiss
Philadelphia, Nov. 30 - Antisense Pharma said Wednesday that it raised $18 million from the German MIG funds.
The MIG Corp. raises venture capital to invest preferentially into selected businesses in Germany and Austria, according to a company news release.
Antisense said it will use the funding for an advanced clinical program designed to obtain approval of its antisense drug AP 12009 to treat malignant brain tumors and pancreatic cancer.
A major criterion for a MIG funds investment is the evaluation of the company for sustainable growth. A convincing candidate must offer an innovative and promising product pipeline substantiated by entrepreneurial accomplishments of management, officials said in the release.
The corporations, MIG AG & Co. Fonds 1 KG and MIG AG & Co. Fonds 2 KG, both located in Munich, Germany, are investing venture capital into innovative nonlisted high-technology companies in return for direct shares.
The MIG Funds 1 aims at a stock of $35 million with MIG Funds 2 at $58.4 million.
The offer for participation for the MIG Funds 1 is in final stage of placement. MIG Funds 2 has already been closed.
"We are very pleased to welcome the MIG corporation among our current venture capital investors Global Chance Fund, Global Asset Fund and S-Refit, who support our leading position within the German biopharmaceutical sector," Karl-Hermann Schlingensiepen, Antisense founder and chief executive officer, said in the release.
Antisense, located in Regensburg, Germany, is a biopharmaceutical company focused on developing targeted therapies for malignant tumors.
| Issuer: | Antisense Pharma
|
| Issue: | Common stock
|
| Amount: | $18 million
|
| Investors: | MIG AG & Co. Fonds 1 KG, MIG AG & Co. Fonds 2 KG
|
| Announcement date: | Nov. 30
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
