Ganymed sells majority of shares to ATS
Germany's Ganymed Pharmaceuticals AG has sold a majority of its shares to ATS, a company owned by the Strungmann brothers, the drug industry entrepreneurs that founded Hexal.
The shares were formerly those held by Ingro Finanz, KfW, Landesbank Baden-Wuerttemberg, Nextech Venture, Varuma, VI Partners, WFT and a number of private investors from Switzerland and Germany.
Ganymed is seeking to expand its pipeline to include five further antibody projects in development for breast, colorectal, lung, pancreatic and prostate cancers, as well as for other solid tumors with high medical need and large market potential. This is in addition to Ganymed's lead antibody, iMAB362, which will enter a clinical trial for metastatic gastro-esophageal carcinoma in fourth-quarter 2008.
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