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arGEN-X raises EUR 27.5 million (USD 37 million) in oversubscribed Series B Round
Date:11/30/2011

ROTTERDAM, the Netherlands and GHENT, Belgium, December 1, 2011 /PRNewswire/ --

Funds will be Used to Progress Differentiated Therapeutic Antibody Programs into Clinical Development

arGEN-X, a biopharmaceutical company focused on the discovery and development of human monoclonal antibodies from its proprietary SIMPLE Antibody™ platform, announced today the closing of a EUR 27.5 million (USD 37 million) Series B fundraising round, which was oversubscribed. The fundraising was co-led by OrbiMed Advisors (USA) and Seventure Partners (France), with the existing shareholders Forbion Capital Partners, Credit Agricole Private Equity, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital and VIB also participating. OrbiMed's founding partner, Dr Mike Sheffery, will join the arGEN-X Supervisory Board.

arGEN-X is developing a highly innovative pipeline of human antibody products from its proprietary SIMPLE Antibody™ platform. The Company has five therapeutic programs under development for the treatment of autoimmune disorders, inflammation and oncology, with two now in formal preclinical development. arGEN-X' most advanced program, ARGX-110, addresses a clinically validated cell surface receptor implicated in autoimmunity and cancer and has been shown in preclinical models to modulate target function with unrivalled potency. arGEN-X expects to file an IND application for ARGX-110 in early 2013.

Tim Van Hauwermeiren, CEO of arGEN-X, commenting on today's announcement, said: "arGEN-X' ability to attract funding from such high caliber global life science investors, especially in such a difficult financial climate, reflects the compelling proposition of our SIMPLE Antibody™ platform and products. We have thoroughly validated the unique attributes of our platform and delivered therapeutic grade human antibodies against every target we selected to date, including those intractable to other antibody technologi
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