BiosanaPharma BV closes initial series C financing round
BiosanaPharma BV closes initial series C financing round of US$ 3,865M for further development of their platform technology to make the biosimilar market generic and for further development of their biosimilar mAb pipeline.
Haarlem, June 4, 2018 – Today, BiosanaPharma BV closed the initial part of its series C funding for the further development of the company objectives. The present investments come from existing and new Dutch and Singaporean investors and the MT of the company. BiosanaPharma will use the proceeds of this investment to consolidate and automate the 3C mAb manufacturing platform, yielding COGs over 10 times lower than current industry standards and to further develop their pipeline of mAb biosimilars. BP001, a biosimilar of omalizumab will go into phase I end o f 2018 while development of BP002, a biosimilar for denosumab, has started late 2017.
The investment was secured with the support of Ginward Ltd from Singapore.
Ard Tijsterman, CEO of BiosanaPharma: ‘We are very pleased that our currenti investors increased their stake in our company while bringing along some new investors as well. We are convinced that Cost of Goods reduction will be the key to success in the biosimilars arena, which we believe will eventually show great similarity to the generics market.’
About BiosanaPharma:
BiosanaPharma is a young biotechnology company based on an innovative manufacturing process for therapeutic proteins. This so-called ‘3C’ process is based on the combination of 3 consecutive multicycle processes: cell cultivation, centrifugation and chromatography. The 3C process will be one of the first fully continuous, fully disposable biomanufacturing processes in the world. Cost of Goods for these proteins will be reduced by at least a factor 10 by applying the 3C process. At present the 3C process at 50liter scale has obtained GMP status and phase I material was produced by our CMO in Taiwan. The 3C process is of course applicable to all monoclonal antibodies, new or biosimilar, thereby rendering this therapeutic class affordable to all.
About Ginward Ltd:
Ginward Ltd is a boutique corporate finance and consultancy company focused on connecting investors with opportunities in Europe and Asia.
For more information, please have a look at http://www.biosanapharma.com
or contact:
Nettie Buitelaar, Chief Business Officer BiosanaPharma
Nettie.buitelaar@biosanapharma.com
+31610026742