BRIEF—Philogen raises 62 million euros to further promising pipeline

Antibody-focused Italian biotech Philogen has raised 62 million euros ($70 million) in a financing round to progress its wholly-owned pipeline products through clinical development.

The capital increase will also be used to expand Philogen’s GMP facilities, enabling large-scale production of antibody products.

Philogen currently has two products in Phase III development for oncological indications. Daromun is being investigated for the treatment of fully-resectable stage three B/C melanoma while fibromun is being studied in metastatic soft tissue sarcoma. The pipeline is complemented by other products that are in Phase I or Phase II clinical trials.