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Antisense secures funding

Germany-based Antisense Pharma has secured new funding as it begins an international trial of its pancreatic cancer treatment

Antisense Pharma has completed its latest round of fundraising, with its main investor MIG Funds 2, 3 and 9, as well as GAF increasing their share capital by approximately €8m.

The German company has launched a second international clinical trial of trabedersen, a second-line treatment for pancreatic cancer. Michael Motschmann, chief executive of MIG Verwaltungs, said: "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."

The company has also announced that it chief executive Dr Karl-Hermann Schlingensiepen has moved to an advisory position. Dr Hubert Heinrichs, managing director and chief medical officer of Antisense Pharma, will assume the position as acting CEO.

6th July 2011

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