At a time when the markets are seen to be pretty tight, France’s Transgene has launched a rights issue aimed at raising 152 million euros. Germany’s CureVac has also completed a financing round.

Confirmation of the fundraising follows a statement issued by the Illkirch-headquartered group in March saying that the precise amount of the rights issue had yet to be defined but it would likely be between 100-150 million euros. New shares may be subscribed at the price of 16 euros each on the basis of three new shares for seven existing ones. Major stockholder Institut Merieux, which has a 55.2% stake, intends to subscribe pro-rata to the issue.

Transgene has four compounds in clinical development, including cancer treatment TG4010 which has completed Phase II trials and is partnered with Novartis,, and TG4001/RG3484, which is in a Phase IIb study and is being developed with Roche to treat human papilloma virus-mediated diseases.

Transgene hopes to achieve its goal of becoming an integrated biopharmaceutical company by 2015 with the fresh funds.

Meantime, CureVac has announced the closing of a 27.6 million euro financing round with its major shareholder, dievini Hopp BioTech.

The proceeds will be used to further develop the Tuebingen-based company’s messenger ribonucleic acid (mRNA) immunotherapeutics. CureVac's compound to treat prostate cancer, CV9103, is in a Phase IIa trial and in a separate Phase I study, the company is developing CV9201 to treat non-small cell lung cancer.