Danish biopharmaceutical company, Symphogen, has raised about €100 million from the sale of preferred stock to a group of investors. Novo, a majority shareholder in NovoNordisk and Novozymes, has led the funding.
Existing shareholders Novo and Essex Woodlands have contributed 70% of the investment, while Danish pension fund, PKA, has joined as a new investor. The proceeds are expected to be used by Symphogen to accelerate development of its lead clinical oncology product.
Click here for the release from Business Wire.