Transgene, a publicly traded biopharmaceutical firm, has secured €14.4m ($17m) in an investment round led by its parent company biotechnology producer Institut Mérieux with participation from aircraft manufacturer Dassault Belgique Aviation (DBA).
Institut Mérieux purchased 28% of the new shares released, increasing its position in Transgene to 57%. DBA took 3% of the new shares and now holds nearly 5% of the company’s share capital. The other 69% of shares were subscribed by 21 undisclosed new investors.
France-based Transgene focuses on the development immunotherapies for treating cancer and infectious diseases, using viral vector technology to kill infected or cancerous cells.
Some of the company’s treatments currently in development include a vaccine against non-small cell lung cancer, a virus that kills liver cancer cells and a vaccine for head and neck cancers in HPV-positive patients.
Transgene held an initial public offering in 1998 raising $61.1m. The company received a further $1.2m from an undisclosed investor in 2008, according to a securities filing.
Philippe Archinard, CEO of Transgene, said: “The success of this capital raise demonstrates growing appreciation of Transgene’s position as a global leader in the immuno-oncology field.
“The company expects to deliver numerous key value-creating milestones in the next 12 months as we progress on our innovative portfolio of five clinical-stage immunotherapy products as well as our strong research capabilities.”