BRIEF—Transgene raises 50 million euros

Virus-based immuno-oncology specialist Transgene has raised just shy of 50 million euros ($54 million) in a rights issuance, creating around 21 million new shares at 2.34 euros a piece.

Chief executive Philippe Archinard said: “This funding allows us to significantly progress our novel Invir.IO and myvac product platforms and to complete the clinical development plan for our more mature assets.”

“The funds raised will also put us in a stronger position to negotiate partnerships and co-development agreements based on the important clinical results anticipated later this year.”