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news.Argos Therapeutics has announced the closing of a $35.2 million tranched Series C financing. The financing was led by TVM Capital and included participation from new investors Mizuho Capital, Morningside Group and Japan Asia Investment.
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Argos has received more than half of the total proceeds of the financing, with the balance scheduled to be received by the company in late 2008.
Proceeds from the series C will be used to fund the achievement of Phase II efficacy results for the company’s Arcelis immunotherapy candidates in renal cell carcinoma and HIV. The financing will also support the further development of company’s CD83 protein immunology program through an initial human clinical trial in transplantation.
John Bonfiglio, president and CEO of Argos, said: “This significant financing illustrates the confidence in our technology and pipeline on the part of a world-class investor syndicate. After demonstrating proof-of-principle and the superior potency of our Arcelis platform with these resources, we would be poised to enter pivotal trials with our dendritic cell-based immunotherapies.”