Symphogen Receives Milestone Payment in Merck KGaA Sym004 Collaboration

  Symphogen Receives Milestone Payment in Merck KGaA Sym004 Collaboration

2013 ASCO Annual Meeting

Business Wire

COPENHAGEN, Denmark -- June 26, 2013

Symphogen, a private biopharmaceutical company developing recombinant antibody
mixtures, announced today that it has received a milestone payment from Merck
KGaA, Darmstadt, Germany, related to the successful achievement of specific
development objectives for Sym004, an investigational antibody mixture
targeting the epidermal growth factor receptor (EGFR).

Out-licensed world-wide by Symphogen to Merck in September 2012, Sym004 was
the subject of two data presentations at the 2013 ASCO Annual Meeting in
Chicago, IL, earlier this month. Specifically, Sym004 reported Phase 2
proof-of-concept data in squamous cell carcinoma of the head & neck (SCCHN)
and in metastatic colorectal cancer that signaled clinical activity and were
supportive of the anticipated mixture’s mechanism of action.

“We are pleased to achieve meaningful progress so early in our collaboration,”
said Kirsten Drejer, Chief Executive Officer of Symphogen. “This payment
substantially enhances the financial position of Symphogen and demonstrates
our commitment to assisting Merck KGaA to advance this promising program.”

About SYM004

Sym004 is comprised of two antibodies that are not only designed to block
ligand binding, receptor activation and downstream signaling but are also
thought to elicit removal of the EGFR receptors from the cancer cell surface
by inducing EGFR internalization and degradation. As of 21 May 2013, 105
patients have been treated with Sym004 in clinical trials.

Sym004 was out-licensed to Merck KGaA in 2012 following phase 2 clinical data
in late stage cancer patients.

About Symphogen A/S

Symphogen is developing next-generation antibody therapeutics for the
treatment of cancer and is dedicated to bringing truly innovative oncology
products to the market. The company has advanced the frontier of antibody
discovery by creating well characterized antibody mixtures that address
multiple oncology targets in a single drug product. The company has matured
its pipeline and has currently brought two product candidates into the clinic.
The company’s productive technology suite - capable of identifying, selecting
and manufacturing optimal antibody mixtures – fuels Symphogen’s innovative
pipeline. In total, the company has raised € 249 million in equity capital
from premier international investors including Novo, Essex Woodlands Health
Ventures and PKA, and employs 95 people, most of who are based at Symphogen’s
facilities in Copenhagen.


Symphogen A/S
Kirsten Drejer, + 45 22 10 99 59
Chief Executive Officer
Martin Olin, + 45 40 21 85 32
Chief Financial Officer
Annes Associates
Shari Annes,650-888-0902
Mary-Jane Elliott, Amber Bielecka, Hollie Vile, +44 20 79 20 53 33
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