Antisense Pharma raises $ 18 Million in Venture Financing
"The investment by the MIG funds provides substantial funding of our advanced clinical program designed to obtain approval of our antisense drug, AP 12009, which we are developing for patients with malignant tumors including brain tumors and pancreatic cancer", explains Dr. Reimar Schlingensiepen, founder and COO of Antisense Pharma. The company has repeatedly received prestigious awards for the innovative potential and goal-directed drug development program as well as corporate management. The lead drug candidate AP 12009 is targeted against TGF-beta, a key player in malignant progression of cancer.
The MIG corporation raises venture capital to invest preferentially into selected businesses in Germany and Austria. A major criterion for 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 the executive management. "At Antisense the founders are deeply dedicated to their work and have a long track record of success. Achievement of milestones in the clinic and promising results from the ongoing work have convinced us, that they will bring innovative anticancer therapies to the market", confirms Michael Motschmann, chairman of MIG's board of directors. "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", says Dr. Karl-Hermann Schlingensiepen, founder and CEO of Antisense Pharma.
Antisense Pharma is a biopharmaceutical company located in Regensburg, Germany. The company focuses on targeted therapies for malignant tumors. Drugs based on antisense technology are discovered and developed for worldwide marketing. The agents specifically block the synthesis of key cancer proteins. The lead product AP 12009 is currently in clinical development for glioma, pancreatic cancer and melanoma. The company received the German Founders Award and the Bavarian Innovation Award.
The corporations "MIG AG & Co. Fonds 1 KG" and "MIG AG & Co. Fonds 2 KG" - both located in Munich, Bavaria - are investing venture capital into innovative non-listed high-technology companies in return for direct shares. The MIG Funds 1 aims at a stock of $ 35.0 Mio., MIG Funds 2 at $ 58.4 Mio. The offer for participations for the MIG Funds 1 is in final stage of placement, the MIG Funds 2 has already been closed.
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