arGEN-X receives €12.5m

Life science investors Crédit Agricole Private Equity and Flemish research institute VIB have contributed €3m to allow Dutch biopharmaceutical company arGEN-X to hold its second close of its series A financing round on €12.5m.

The financing round was oversubscribed and involved a syndicate of investors that included Forbion Capital Partners, the spin-out of ABN AMRO Capital Life Sciences, Life Science Partners (LSP), KBC Private Equity, BioGeneration Ventures and existing shareholders Erasmus MC Biomedical Fund and Thuja Capital Healthcare Funds which invested €9.5m in the Rotterdam-based company.

arGEN-X will use the funds to develop the company’s SIMPLE Antibody engine and to build pre-clinical antibody product portfolio.

As part of the funding, Philip Guinot, senior partner at Crédit Agricole Private Equity joined arGEN-X’s supervisory board.