Germany’s Antisense Pharma Closes On About $11M In Financing

Antisense Pharma said Wednesday that MIG Funds 2, 3 and 9 as well as GAF have ponied up a new round of financing worth about $11 million, or about 8 million euros. The German bio-pharmaceutical startup also said its founder and chief executive, Karl-Hermann Schlingensiepen, will leave his operational role and join the supervisory board, in addition to focus on strategy as a consultant

PRESS RELEASE

Antisense Pharma completes round of financing worth approximately 8 million euro –
Founding shareholders facilitate the participation of new investors

Effective July, 2011, Antisense Pharma’s founder and CEO, Dr. Karl-Hermann Schlingensiepen, will now be a member of the supervisory board and will focus on the company’s strategy as a consultant.

Regensburg, Germany July 6th, 2011. The biopharmaceuticalcompany Antisense Pharma announced today that MIG Funds 2, 3 and 9 as well as GAF have increased their share capital by approximately 8 million euro. In addition, the current Chief Execute Officer (CEO), Dr. Karl-Hermann Schlingensiepen changed from the operative management of Antisense Pharma to a strategic advisory position closely associated with the company as of July 1. Dr. Karl-Hermann Schlingensiepen and the investors developed this solution together.

Pivotal phase II/III study on pancreatic cancer: Start of a second international clinical trial of Antisense Pharma in preparation

“With this major entry into the systemic, intravenous application in solid tumors, we share Antisense Pharma’s hope that trabedersen could become the first medication approved for second-line therapy of pancreatic cancer,” says Michael Motschmann, Chief Executive of MIG Verwaltungs AG. “Trabedersen could give new hope to patients suffering from this extremely aggressive type of cancer and open up a greatly needed but thus far completely vacant market niche along with its corresponding high revenue potential. At the same time, this means a risk reduction for the development of trabedersen, as this medication now has several marketing opportunities if the trials are successful. Furthermore, there is a potential for added value since new markets can be opened up.”