Navigation Links
PharmAbcine Closes USD $6 Million Series A Financing
Date:9/16/2009

DAEJEON, South Korea, Sept. 16 /PRNewswire/ -- PharmAbcine, a specialized biotech company focused on the development of fully-human monoclonal antibodies for the treatment of cancer and inflammatory diseases, announced that is has received $6 million USD in a Series A financing. OrbiMed's Caduceus Asia Partners and Novartis Korea Venture Fund co-led the round, with additional participation from an international syndicate including Green Cross, Tong Yang and Saehan Venture Fund.

The financing will be primarily used to continue developing a pipeline of fully human therapeutic antibodies in the area of cancer and inflammation. In 2008, PharmAbcine was selected as the winner of business plan competition under 'GATE (Get Armed To Explore Global Market)' project. GATE was a collaborative initiative among the Korea Health Industry Development Institute (KHIDI), Samsung Advanced Institute of Technology (SAIT), McKinsey & Co., the Korea Trade-Investment Promotion Agency (KOTRA), and Novartis.

"We are very excited to make the first investment by OrbiMed in a Korean company and believe that PharmAbcine is uniquely positioned with talented scientists, excellent science and meaningful product opportunities," said Dr. Nancy Chang, Chairman and Senior Managing Director of OrbiMed's Caduceus Asia Partners. "The company's Series A financing is a first where a Korean start-up was able to attract an international syndicate of quality investors. We believe that this experienced syndicate can work well and we look forward to working closely with Novartis, Green Cross, Tong Yang, and Saehan Venture Fund to build PharmAbcine into a first rate biotech company in Korea."

"Novartis Korea Venture Fund puts priority on investing in the best life science start-ups in Korea - our mission is to support Korea as it builds a world class biotech industry," said Dr. Anja Koenig, Managing Director, Novart
'/>"/>

SOURCE PharmAbcine
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4

Related biology technology :

1. WaferGen Closes on Private Financings of Approx. $6.2 Million
2. Helix BioPharma Closes Private Placement
3. Alimera Sciences Closes $5 Million in Extended Series C Financing
4. Jennerex Closes $5 Million First Tranche of Series C Financing
5. Micromet Closes $80.5 Million Public Offering of Common Stock
6. PharmAthene, Inc. Closes on $19.3 Million Private Placement of Convertible Notes and Common Stock Warrants
7. Signostics Closes Follow-On Financing of US$4 Million, Expands Board of Directors
8. NewLink Genetics Corporation Closes $7.5 Million Financing
9. Pharmaxis Closes Share Purchase Plan
10. China Biologic Products Closes the $9.6 Million Private Placement
11. AEterna Zentaris Discloses Preliminary Phase 2 Trial Results for Perifosine in Combination with Radiotherapy for Non-Small Cell Lung Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/21/2012)... 21, 2012   Cord Blood America, Inc . ... ), the umbilical cord blood stem cell preservation ... of stem cells to families nationwide and internationally, today ... increased by 6.7%  to $1.55 million compared to $1.45 ... a gross profit of $1.12 million in the first ...
(Date:5/21/2012)... CITY, Panama, May 21, 2012 ... 16 May 2012 to discuss the potential use of ... a tool to combat Dengue Fever in Panama. ... Tropical Research Institute (STRI), The Gorgas Memorial Institute for ... together national and regional experts from these institutes as ...
(Date:5/18/2012)... HACKENSACK, N.J., May 18, 2012 Champions ... has received U.S. Clinical Laboratory Improvement Amendment (CLIA) ... Mental Hygiene Office of Health Care Quality required ... The Company,s President, Ronnie Morris, ... milestone for our Company. This approval validates the ...
(Date:5/17/2012)... 17, 2012 The " ... Study " analyzes and studies the U.S. market for ... anesthesia drugs in U.S., potential buyers, export & import system for ... Browse market data tables and in-depth TOC of ... 2015) -   U.S. Market Entry ...
Breaking Biology Technology:Cord Blood America Announces First Quarter Financial Results 2Cord Blood America Announces First Quarter Financial Results 3Expert Meeting Discusses Testing of Oxitec Transgenic Mosquitoes in Panama 2Expert Meeting Discusses Testing of Oxitec Transgenic Mosquitoes in Panama 3Champions Oncology Inc. Receives Approval from U.S. Regulatory Authorities 2Champions Oncology Inc. Receives Approval from U.S. Regulatory Authorities 3Anesthesia Drugs Market in U.S. worth $7 Billion by 2015: MarketsandMarkets 2Anesthesia Drugs Market in U.S. worth $7 Billion by 2015: MarketsandMarkets 3
... of Madison is asking for bids on the construction of downtown ... would be able to charge user fees and would take on ... county and state for the right to operate. The project would ... said plans and costs are still not finalized. , ,Now, though, ...
... Madison, Wis. While the Madison chapter ... looking ahead for new social and technological developments, Scott Converse ... important if they want to see where the next big ... at the UW-Madison School of Business and founder of the ...
... anticipation of what may await them on Christmas morning. For me, ... companies vying for a place at February's DEMO@15 show. ... 70 or so companies that will debut at the show, there ... until the conference gems we can unwrap now. , ,One ...
Other Biology Technology:Madison asks for wireless bids; airport, downtown would be first 2Business-school IT director points to reasons for wireless trend 2An early Christmas gift 2
(Date:5/21/2012)... 2012 Researchers from Seattle Biomedical Research Institute (Seattle ... Edinburgh have uncovered new knowledge related to host-parasite interaction ... to bind to cells in the brain and cause ... disease. Three related papers will be published in the ... the National Academy of Sciences ), a premier scientific ...
(Date:5/21/2012)... 21, 2012  Chiltern International Limited (Chiltern), a ... has been recognized with a CRO Leadership Award ... and Regulatory. The awards are given by Life ... of Nice Insight. Glenn ... to be recognized as a CRO leader in ...
(Date:5/21/2012)... combination of cues in their hunting sequence - capture, handling ... and consume and which ones they are better off leaving ... listen to their prey, then they assess its size, and ... and her team from the Smithsonian Tropical Research Institute in ... The Science of Nature . , To survive, predators must ...
Breaking Biology News(10 mins):New discoveries about severe malaria 2Chiltern Wins CRO Leadership Award From Life Science Leader 2What sounds good doesn't always taste good 2Depression associated with sustained brain signals 12686 1Depression associated with sustained brain signals 12686 2Breast cancer patients with BRCA mutations 4 times more likely to get cancer in opposite breast 70037 1Breast cancer patients with BRCA mutations 4 times more likely to get cancer in opposite breast 70037 2Breast cancer patients with BRCA mutations 4 times more likely to get cancer in opposite breast 70037 3Breast cancer patients with BRCA mutations 4 times more likely to get cancer in opposite breast 70037 4Childhood Cancer Survivors At Higher Odds of Early Death 70034 1Childhood Cancer Survivors At Higher Odds of Early Death 70034 2
... In one of the first national studies on ... hospitals, researchers from the Indiana University School of ... Roudebush Veterans Administration Medical Center report that hospitals ... have lower rates of antibiotic resistance. , ...
... contracting a serious bacterial infection is that the victim ... destructive inflammation throughout the body, often leading to heart ... hospital intensive care units may be helpless to save ... study by Emory University and the Centers for Disease ...
... from HIV infection can lead to trouble when it ... appearing in the Oct. 1 issue of The Journal ... demonstrates that HIV-1 infected patients with suppressed immunity represent, ... group for malaria," says Jean-Pierre Van geertruyden, MD, MSc, ...
Other Biology News:Controlling antibiotics and antibiotic resistance in hospitals 2Researchers identify new weapon to fight deadly bacterial sepsis 2Researchers identify new weapon to fight deadly bacterial sepsis 3Malaria treatment efficacy compromised in certain HIV-positive patients 2