Quantcast
Last updated on April 20, 2014 at 8:28 EDT

arGEN-X Concludes EUR 12.5 Million Series A Financing Round

December 3, 2009

ROTTERDAM, The Netherlands, December 3 /PRNewswire/ — arGEN-X BV, a
biopharmaceutical company focused on the discovery and development of human
antibodies using its proprietary SIMPLE Antibody(TM) platform, today
announced the successful second closing of its Series A equity financing
round. The Company raised an additional EUR 3.0 million (~USD 4.5 million)
from two leading life science investors, Credit Agricole Private Equity and
VIB (the prestigious Flemish research institute).

arGEN-X has raised a total of EUR 12.5million (~USD 18.7 million) from
its completed Series A equity financing round, which was heavily
oversubscribed.

Philippe Guinot, a senior partner at Credit Agricole Private Equity,
joined the arGEN-X Supervisory Board.

The Series A round was co-led by Forbion Capital Partners (The
Netherlands
) and LSP (Life Sciences Partners – The Netherlands). Other
members of the syndicate, which invested in the first closing of EUR 9.5
million
, were KBC Private Equity (Belgium), BioGeneration Ventures (The
Netherlands
) and existing shareholders Erasmus MC Biomedical Fund and Thuja
Capital Healthcare Funds.

arGEN-X will use the proceeds to further develop the Company’s
proprietary, unencumbered SIMPLE Antibody(TM) engine and to continue to build
a proprietary pre-clinical antibody product portfolio. arGEN-X’s SIMPLE
Antibody(TM) platform yields monoclonal antibodies which combine an
unparalleled functional diversity against human disease targets with best in
class human germline homology. arGEN-X’s SIMPLE Antibodies(TM) are generated
in vivo, starting from active immunization, and exhibit ultra high starting
affinities and potencies without the need for further engineering.

The arGEN-X platform has the potential to rapidly create exciting product
candidates both against novel therapeutic targets and against targets where
standard antibody approaches fail to generate an optimal lead diversity.

Philippe Guinot, PhD, Senior Partner at Credit Agricole Private Equity
commented: “We believe that arGEN-X has a truly innovative technology and a
management team with an impressive track record of building a valuable
business in the antibody area. It is no surprise to us that the Company was
able to attract such a high-quality syndicate of investors for its Series A
round and Credit Agricole Private Equity is delighted to have had this
opportunity to participate at this important early stage of the arGEN-X’
development.”

Tim Van Hauwermeiren, Chief Executive Officer of arGEN-X added: “We are
very pleased to have raised this additional funding from two experienced
European life science investors. In addition, we are proud to become VIB’s
first external investment and we view this as a real quality stamp of
approval. With substantial funding now in place, arGEN-X is well positioned
to execute its ambitious value-creating strategy over the next two years.”

Notes for the editor

About arGEN-X – http://www.arGEN-X.com

arGEN-X is a research stage biopharmaceutical company with a broadly
applicable, proprietary SIMPLE Antibody(TM) platform. The platform allows
arGEN-X to create an unparalleled diversity of in vivo generated antibody
leads against a broad range of human disease targets. This superior choice of
ultra-high affinity and highly potent leads, having best-in-class human
homology, allows for more stringent lead selection criteria, thereby
increasing the probability of success later in the drug development path. The
Company has validated its monoclonal antibody platform on two human disease
targets and has broad patent claims in place covering its technology.

arGEN-X(TM) and SIMPLE Antibody(TM) are deposited trademarks of arGEN-X
BV.

SIMPLE stands for Superior Immunodiversity with Minimal Protein Lead
Engineering.

About Credit Agricole Private Equity – http://www.ca-privateequity.com

Credit Agricole Private Equity is an AMF-accredited asset-management
subsidiary of Credit Agricole S.A., specialising in direct private-equity
investment in non-listed companies. A multi-specialist player in the
private-equity market, it has a team of 80 professionals operating in a
variety of areas (LBO & Expansion, Venture Capital, Mezzanine, Co-Investment,
Renewable Energy, PPP Infrastructure, etc.), and manages EUR2.8 billion in a
variety of private-equity vehicles (FCPRs, SICARs, FCPIs and SCRs). The
12-strong Venture Capital team manages EUR400 million through FCPIs invested
in young companies with high growth potential in the technology and
life-sciences sectors.

About VIB – http://www.vib.be

VIB is a non-profit research institute in life sciences. About 1200
scientists conduct strategic basic research on the molecular mechanisms that
are responsible for the functioning of the human body, plants, and
micro-organisms. Through a close partnership with four Flemish universities -
UGent, K.U.Leuven, University of Antwerp, and Vrije Universiteit Brussel -
and a solid funding program, VIB unites the forces of 70 research groups in a
single institute. The goal of the research is to extend the boundaries of our
knowledge profoundly. Through its technology transfer activities, VIB strives
to convert the research results into products for the benefit of consumers
and patients. VIB develops and disseminates a wide range of scientifically
substantiated information about all aspects of biotechnology.

    For further information, please contact:

    Citigate Dewe Rogerson          arGEN-X
    David Dible                     Tim Van Hauwermeiren, MSc, eMBA
    Mark Swallow                    Chief Executive Officer
    Nina Enegren

    T: +44-207-282-2949/2948        T: +31-6-122-85-257
    E: David.Dible@citigatedr.co.uk E: tim.vh@arGEN-X.com

SOURCE arGEN-X


Source: newswire