Norgine Ventures completes €7 million financing with Azanta Danmark A/S
London. Monday 13 October 2014. 07:00 AM BST. Norgine Ventures today announced that it has provided financing of up to €7million to Azanta Danmark A/S. This investment recognises the growth prospects of Azanta, a specialty pharma company marketing oncology, women’s health and addiction medicine products. The funding will help Azanta finance its late-stage clinical development pipeline and grow its commercial sales.
Norgine Ventures is a business entity of Norgine, a European specialist pharmaceutical company.
Azanta is a specialty biopharmaceutical company marketing and distributing treatments for orphan oncology and women’s health indications, as well as addiction medicine. The company is commercialising a portfolio of a dozen specialty pharmaceuticals, and developing a pipeline of proprietary products.
Over the past decade, Azanta has been focused on the development and commercialization of Nimoral, its proprietary formulation of nimorazole, as adjuvant treatment in the radiotherapy of head and neck cancer. In the first half of 2014, Azanta initiated a pivotal Phase III clinical trial of Nimoral in patients undergoing first-line head and neck cancer treatment. Azanta is also developing Angusta, a proprietary formulation of misoprostol, for the induction of labour. Both Nimoral and Angusta are currently provided under compassionate use programs. In parallel, the company has been commercialising a portfolio of in-licensed specialty pharmaceutical products.
Peter Stein, Norgine CEO, said:
“We have invested in Azanta to help the company progress its clinical studies and continue to develop its commercial business.” He added: “Azanta’s head and neck cancer product candidate is particularly promising and has the real potential to improve treatment outcomes for head and neck cancer patients.”
Claus Møller, Azanta CEO, said:
“Azanta is very pleased to initiate this financing collaboration with Norgine Ventures which ensures that we can continue expanding our business and in particular secure the continued financing of our ongoing Phase III pivotal Nimoral study in Head and Neck Cancer”
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About Norgine and Norgine Ventures
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2013, Norgine’s total revenue was €274 million and the company employs over 1,000 people.
Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth.
Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns an R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France.
For more information, please visit www.norgine.com
About Norgine Ventures
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
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Azanta is a privately owned specialty pharma company primarily operating within oncology, women’s health and addiction medicine. The vision of Azanta is to become an international market leader within specialty pharma products and innovative pharmaceutical products. Azanta currently markets or makes available a string of specialty pharma products, including Nimoral, a hypoxic radiosensitizer for the treatment of head and neck cancer patients undergoing primary radiotherapy. In addition, Azanta has a portfolio of low risk development projects for commercialization within the near future.
For further information, please visit www.azanta.com.