Algeta

Algeta ASA is a Norwegian company, based in Oslo, which listed on the Norwegian Bourse in March 2007 raising USD 41m. It is focused on the development of novel cancer therapeutics based on alpha particle emitting radionuclides. The funds raised in the IPO enabled the company to take its lead product, Alpharadin, a prostate cancer drug, into Phase III clinical trials and also advanced the company’s pipeline of pre-clinical product candidates toward human clinical trials.

The company raised a further USD 35m via a private placement in March 2009. These funds are to be used to complete the Phase III studies for Alpharadin and any other studies that are required to secure marketing authorisation in major markets for Alpharadin.

Advent Ventures first invested in September 2005 and Life Sciences General Partner, Shahzad Malik, is on the Board.

Norwegian Bourse: ALGETA