BerGenBio is a technology company.
BerGenBio - Developing first-in-class AXL inhibitors for aggressive disease
BerGenBio has raised $53.0M across 4 funding rounds.
BerGenBio has raised $53.0M in total across 4 funding rounds.
BerGenBio has raised $53.0M in total across 4 funding rounds.
BerGenBio's investors include Investinor.
BerGenBio ASA was a clinical-stage biopharmaceutical company headquartered in Bergen, Norway, with a subsidiary in Oxford, UK, focused on developing first-in-class selective AXL kinase inhibitors targeting aggressive diseases, primarily advanced, treatment-resistant cancers like non-small cell lung cancer (NSCLC).[1][2][3] Its lead drug, bemcentinib, aimed to address AXL's role in cancer spread, immune evasion, and drug resistance, serving patients with severe unmet needs in oncology and potentially respiratory infections, while solving challenges in malignancy evolution through novel inhibition therapies.[2][3] The company, listed on the Oslo Stock Exchange (ticker: BGBIO), faced clinical setbacks, leading to halted development, a strategic review, and ultimate merger with Oncoinvent ASA in October 2025, after which it was renamed Oncoinvent ASA, shifting focus to radiopharmaceutical cancer therapies with a NOK 130 million rights issue.[4][6]
BerGenBio operated as a Norwegian public limited company (ASA) listed on Oslo Børs, adhering to Norwegian corporate governance standards and the Norwegian Code of Practice for Corporate Governance.[5] Specific founding details and founders are not detailed in available records, but it evolved as a leader in AXL biology research, building a pipeline for cancer therapies.[2] Key pivots included closing its lead BGBC016 trial in STK11-mutated NSCLC in February 2025 due to preliminary data, implementing cost cuts, and entering a merger agreement with Oncoinvent ASA in June 2025—approved in August and completed October 29, 2025—combining resources for late-stage oncology assets.[1][4][6] Leadership transitions featured Olav Hellebø's CEO appointment in November 2024.[3]
BerGenBio rode the biotech trend of precision oncology, targeting undruggable kinases like AXL amid rising demand for therapies against resistant cancers, where immune evasion drives most fatalities.[2] Timing aligned with post-pandemic shifts toward combo therapies and radiopharma, as clinical failures (e.g., NSCLC trial halt) reflected broader small-biotech pressures like funding scarcity and trial risks.[1][4] Market forces favoring it included Norway's supportive life sciences ecosystem and Oslo Børs listings for European biotechs; its merger with Oncoinvent amplified influence by merging AXL expertise with alpha-emitting radiopharmaceuticals (e.g., Radspherin® for ovarian cancer), enhancing Norway's role in innovative cancer pipelines amid global M&A waves in cash-strapped clinical-stage firms.[4][6]
As Oncoinvent ASA post-merger, the entity advances late-stage radiopharma assets like Radsphein®, with recent Phase 1 data publications and rights issue completions signaling stabilized funding (NOK 65.9M cash mid-2025, bolstered by NOK 130M raise).[4][6] Trends like radiopharmaceutical expansion and AI-driven oncology will shape it, potentially evolving from AXL pioneer to radiopharma player via asset sales or partnerships. Watch for trial readouts and capital raises; this pivot from standalone biopharma to merged powerhouse positions it to influence aggressive cancer treatment innovation, tying back to its original mission of transformative therapies for unmet needs.[6]
BerGenBio has raised $53.0M across 4 funding rounds. Most recently, it raised $25.0M Series D in March 2016.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2016 | $25.0M Series D | Investinor | |
| Feb 1, 2014 | $13.0M Series C | Investinor | |
| Apr 1, 2013 | $6.0M Series B | Investinor | |
| Jan 1, 2012 | $9.0M Series A | Investinor |