2012-02-17
Clavis Pharma gets €21m for anti-cancer pipeline
Oslo – The north lights up with financial flares. Norwegian cancer specialist Clavis Pharma ASA has raised €21m through a placement of new shares. The 2.8 million shares represent approximately 9.4% of the current stock in the company. The main shareholder Braganza AS gets the biggest slice and now holds 7.6% of the share capital.
The money goes into the pipeline – Elacytarabine, an optimised form of cytarabine, a leukaemia drug, which is currently in Phase III; CP-4126, an improved version of gemcitabine is currently in a Phase II comparative study with gemcitabine for the treatment of pancreatic cancer. Clavis management also said that they will use the financial leverage to have more clout in negotiating favourable out-licensing agreements with potential partners in 2013, as well as have some extra fuel to explore some new cancer targets.