Norgine Ventures Completes €15 Million Financing With Agendia N.V.
London. 14 March 2014. Norgine Ventures today announced that, together with a number of Agendia’s existing shareholders, it has provided debt financing of €15 million to Agendia NV, with Norgine leading the syndicate. This investment recognises the growth prospects of Agendia, a molecular diagnostic company marketing a suite of breast and colon cancer tests. The funding will help Agendia accelerate commercial expansion in the US, Europe and Asia.
Norgine Ventures is a business entity of Norgine, an independent pan-European specialty pharmaceutical company.
Agendia focuses on the discovery, development and commercialisation of cancer diagnostic tests. The company is currently marketing the Symphony™ suite of four complementary breast cancer tests. The Symphony suite of genomic tests includes MammaPrint and BluePrint, and is the only predictive, multi-gene breast cancer panel that is validated in prospective trials including outcome data. MammaPrint, Agendia’s flagship molecular diagnostic offering is FDA approved and is the fastest-growing, most cost-effective breast cancer recurrence assay available today. Agendia’s mission is to improve the quality of life for cancer patients by providing healthcare professionals with critical information to enable safe and effective personalised treatment.
Agendia was formed in 2003 as a spin-out from the Netherlands Cancer Institute. Agendia is a privately owned company that has successfully raised funds to develop and market its portfolio of genomic cancer diagnostic services.
Today, Agendia has a direct sales team in the US, the Netherlands, Italy, Germany, Switzerland and Austria, with a distributor network servicing the rest of the world.
Peter Stein, Norgine CEO, said:
“This new investment in Agendia further reinforces Norgine Ventures’ commitment to funding innovative solutions in the healthcare sector.” He added: “Agendia’s molecular diagnostic products will continue to revolutionise cancer diagnostics and help to better tailor treatments to individual patients.”
Notes to Editors
For further information please contact
Julien Michaux, Norgine Ventures, +44 (0)1895826600, firstname.lastname@example.org
Isabelle Jouin, Norgine Corporate Communications, +44 (0)1895453643, email@example.com
About Norgine and Norgine Ventures
Norgine is a leading independent European specialty pharmaceutical company that has been established for over 100 years and has a presence in all major European markets. In 2013, Norgine’s net product sales were c.€267 million and the company employs over 1,000 people. Norgine’s focus is the development and marketing of pharmaceutical products that address significant unmet clinical needs in therapeutic areas such as gastroenterology, hepatology, critical and supportive care. Norgine owns a manufacturing and development site in Hengoed, UK and a manufacturing site in Dreux, France. For more information: www.norgine.com
Norgine Ventures was started in 2012 to diversify Norgine’s activities and to foster innovation in the healthcare sector. Norgine Ventures provides debt and debt-like financing to innovative, fast growing companies in the fields of healthcare and life sciences, in Europe and the US. For more information: www.norgineventures.com
NORGINE and the sail logo are trademarks of the Norgine group of companies.
About Agendia N.V.
Agendia is a leading molecular diagnostic company that develops and markets genomic-based diagnostic products, which help support physicians with their complex treatment decisions. Agendia’s breast cancer Symphony™ suite was developed using unbiased gene selection, analysing the complete human genome, ensuring 100% definitive results for cancer patients. Symphony includes MammaPrint, the first and only FDA-cleared IVDMIA breast cancer recurrence assay, as well as BluePrint, a molecular subtyping assay, TargetPrint®, an ER/PR/HER2 expression assay, and TheraPrint®, an alternative therapy selection assay. Together, these tests help physicians determine a patient’s individual risk for metastasis, which patients will benefit from chemo, hormonal, or combination therapy, and which patients do not require these treatments and can instead be treated with other less arduous and less costly methods.
In addition to the Symphony suite of tests, Agendia has a rich pipeline of genomic products in development. The company collaborates with pharmaceutical companies, leading cancer centres and academic groups to develop companion diagnostic tests in the area of oncology and is a critical partner in the ISPY-2 and MINDACT trials.
For more information, please visit www.agendia.com.