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Article: CoGenesys' $55M Financing Makes HGS Spinout Official.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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West Coast Editor
CoGenesys Inc., created last year as a division of Human Genome Sciences Inc., raised $55 million in a Series A to become a free-standing company with plans to advance compounds born of HGS' albumin-fusion technology, monoclonal antibodies and more.
"This is several years of financing for us," Steven Mayer, CEO of CoGenesys, told BioWorld Today, though estimating the runway to the next fund raising is difficult because the firm, while developing drugs, expects to bring in revenue from preclinical out-licensing and from helping other companies use the albumin-fusion approach with their own molecules.
Rockville, Md.-based ...
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