BerGenBio raises funds to advance selective Axl kinase inhibitor

BerGenBio of Norway has raised NOK75 million (about $12.5 million) from new and existing investors through a private placement. The privately held company's lead drug candidate is BGB324, a first-in-class selective Axl kinase inhibitor, which is currently in Phase Ib studies to treat different cancers as monotherapy and in combination with other drugs.