Agendia BV Closes Third Financing Round
June 2, 2006
AMSTERDAM, The Netherlands, -- Dutch biotech company Agendia BV, announced today the closing of a third financing round with the Van Herk Group and Gilde Healthcare.
Agendia is the first company world wide to commercialize microarray-based diagnostics. MammaPrint®, its prognostic breast cancer test, assesses the risk of breast cancer recurrence based on the activity of key genes. The information of this 70 gene profile, which has been published in papers such as Nature and the New England Journal of Medicine and has been (independently) validated in several studies, is superior to classical criteria such as the St. Gallen Consensus or NIH criteria in predicting outcome of disease. Its second microarray product, CupPrint®, is a diagnostic test which was commercialized in 2005 to identify the origin of a metastasis in a cancer type called “Cancer of Unknown Primary”.
“We are excited that two of the largest biotechnology investors of The Netherlands are prepared to make a further investment in our company. Both share Agendia’s vision of the enormous potential of gene expression profiling to improve treatment decisions in cancer,” says Bernhard Sixt Ph.D., Chief Executive Officer of Agendia, "We are expanding our activities in the EU and are in advanced talks with the FDA to determine the regulatory path into the US. Our laboratory is ISO 17025 accredited and we have CE marks for our diagnostic micoarrays. This puts the company in an excellent position to make MammaPrint® available for patients globally”.
“With access to the world’s largest frozen tumor bank and to outstanding cancer research, Agendia is very well positioned to lead the development of microarray-based diagnostics for cancer”, says Aat van Herk. “We are proud to provide funds to accelerate the commercial roll-out of Agendia’s current portfolio of validated diagnostic tests”. “With a broad pipeline of tests and personalized treatment solutions in various cancer types, Agendia is at the forefront of molecular cancer diagnostics”, says Pieter van der Meer of Gilde. “With these funds available, Agendia is poised to make an impact in the commercialization of microarray diagnostics”.
The funds raised will be used to accelerate development of microarray-based late stage products into diagnostic tests for breast cancer and other cancer types and to globally market the lead products, MammaPrint® and CupPrint®.
Besides the above two investors, investors in Agendia BV include AXA Private Equity Venture Funds, Global Life Sciences Ventures and the Netherlands Cancer Institute (NKI).
Agendia is a world leader in gene expression analysis-based diagnostics. The company focuses on the development and commercialization of diagnostic tests using tumor gene expression profiling. Agendia was the first to commercialize a prognostic test - MammaPrint® - that predicts the chance of breast cancer recurrence. CupPrint®, the second product in the market of Agendia, is used for the identification of Cancers of Unknown Primary. Agendia maintains close ties with the Netherlands Cancer Institute (NKI), ensuring access to the latest developments in cancer research. Apart from the development of new cancer diagnostics, Agendia offers its expertise in finding new predictive gene expression profiles to companies focusing on new drug development in the area of oncology.
More information about Agendia BV is available at www.agendia.com.
About Van Herk Group
The Rotterdam-based Van Herk Group invests in real estate and in companies, focusing primarily on the Netherlands and the new EU member states. The Group began as a family business, and its history dates back more than half a century. The Van Herk Group participates in listed and non-listed companies in different sectors with enterprise values between € 10 and € 150 million.
More information is available at www.vanherkgroep.nl.
About Gilde Healthcare
Gilde Healthcare, based in Utrecht (The Netherlands), invests in innovative European life science companies from seed to late stage. Gilde typically acts as lead investor and invests up to EUR 10 million in a single start-up. The healthcare portfolio consists of leading European biotech companies such as Ablynx (Belgium), Chroma Therapeutics (UK) and Innate Pharma (France). Successful recent exits of the Gilde Funds include Glycart (Switzerland) and CropDesign (Belgium).
More information is available at www.gilde.nl.
Agendia: Bernhard Sixt, CEO of Agendia, +31-20-5129161, or Bernhard.email@example.com
Van Herk Group: Hans Smink, Smink, Van der Ploeg & Jongsma, +31-20-6478181, or firstname.lastname@example.org
Gilde Healthcare: Pieter van der Meer, Partner, +31-30-2192536, or email@example.com
- Contact Information
- Bernhard Sixt
- Agendia BV
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