Philogen Announces EUR62 Million Financing Round

EUR62M funding will be used to progress wholly-owned pipeline
products through clinical development and expand manufacturing
activities

Dr. Guido Guidi, Dr. Roberto Ferraresi and Dr. Roberto Marsella
join the board of directors

Siena, Italy (ots/PRNewswire) - Philogen S.p.A (or the "Company"),
a clinical-stage biotechnology company focused on antibody-based
therapeutics, today is pleased to announce a EUR62 million financing
round from current and new private investors. The EUR62 million
financing will be used to progress Philogen's wholly-owned pipeline
products through clinical development and provide working capital
whilst the bulk of the pipeline continues to progress in partnership
with large pharmaceutical companies. The capital increase will also
be used to expand Philogen's GMP facilities, enabling large scale
production of antibody products.

Philogen's therapeutic approach is based on the antibody-mediated
delivery of bioactive payloads to the site of disease helping spare
normal tissues. In particular, cytokine payloads hold promises for
treatment of serious conditions, through a selective modulation of
immune system activity. The disease targeting ability of Philogen's
antibodies, that recognize specific targets expressed in the majority
of solid and liquid malignancies, have been extensively validated
with nuclear medicine techniques in patients with cancer.

The Company currently has two products in Phase III development
for oncological indications. Daromun is being investigated for the
treatment of fully resectable Stage III B / C melanoma while Fibromun
is being studied in metastatic soft tissue sarcoma. The pipeline is
complemented by other products that are in Phase I or Phase II
clinical trials.

In addition to its validating partnerships with big pharma,
Philogen has a robust IP position with more than 40 international
patent families and is a fully integrated company from discovery to
GMP manufacturing and clinical trial execution.

Philogen also today announces the appointment of three new board
members, Dr. Guido Guidi previously Head of Oncology Europe at
Novartis, Dr. Roberto Marsella previously Director of Investments of
Fondo Strategico Italiano / CDP Equity, now with Generali, and Dr.
Roberto Ferraresi previously partner of PAI partners and currently
CEO of The Equity Club.

"Philogen uses state of the art discovery technology to innovate
ligand based pharmacodelivery and is committed to the engineering of
superior antibody cytokine fusions." said Dr. Duccio Neri, Chief
Executive Officer of Philogen. "This financing will help us execute
our strategy and develop innovative biopharmaceuticals for the
treatment of diseases which urgently better therapeutic modalities.
We welcome our three new Board members to Philogen and look forward
to their valuable contributions at this exciting time in our
Company's evolution."

Leopoldo Zambeletti acted as advisor to Philogen in the financing.

About Philogen

Philogen is a clinical-stage biotechnology company engaged in the
discovery and development of novel biopharmaceutical products.
Philogen's strategy is to deliver bioactive agents, for example
cytokines or drugs to the site of disease using antibodies and
ligands that specifically and efficiently target stromal antigens.
This technology has generated a strong proprietary pipeline of
clinical-stage products and also pre-clinical compounds in an array
of disease indications. Philogen is headquartered in Siena, Italy,
and has research activities at its subsidiary company Philochem in
Zürich, Switzerland. Philogen is independently owned and has signed
agreements with several major pharmaceutical companies. For more
information, please visit www.philogen.com.

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