DURHAM, NC — Argos Therapeutics Inc., a biopharmaceutical company focused on the development and commercialization of fully personalized immunotherapies for the treatment of cancer and infectious diseases using its Arcelis(TM) technology platform, today announced that it has secured $42.5 million in a Series E financing. The funds will be used for the company’s ongoing, fully resourced ADAPT pivotal Phase 3 clinical study of AGS-003 for metastatic renal cell carcinoma (mRCC).
The financing was led by Pharmstandard International S.A.(Luxembourg), a holding company, fully committed by the #1 pharmaceutical company in Russia, OJSC Pharmstandard (LSE:PHST). The strategic investment is the company’s first in the U.S. biopharmaceutical sector. Also included in the financing round was new strategic investor, Green Cross Corporation of Seoul, Korea (006280:Korean Stock Exchange), as well as existing investors, including Forbion Capital, TVM Capital, Lumira Capital, Intersouth Partners, Caisse de depot et placement de Quebec, Morningside Group and Aurora Funds.
Alexandr Shuster, President of Inbio Ventures – a management company which represented Pharmstandard International S.A. in facilitating this investment round, said, “Pharmstandard’s investment in Argos is a major component of the globalization of Pharmstandard’s operations and its focus on identifying innovative cell-based therapies. Immunotherapy is increasingly recognized as a treatment that will represent a new paradigm in the management of cancer. Pharmstandard was impressed with the Argos science, management team and progress of its clinical trials in both cancer and HIV.”
Jeff Abbey, President and Chief Executive Officer, commented, “This international capital round reflects the globalization of immunotherapy and the growing interest in innovative and personalized cancer treatments. The participation from these large pharmaceutical players demonstrates the value of our Arcelis technology platform and the traction we are achieving in our pivotal Phase 3 global trial in mRCC, as well as in the clinical development of our HIV immunotherapy.”