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Argos Therapeutics raises $42.5mm in Series E round; later adds $17.5mm
20 Nov 2013
Argos Therapeutics Inc. (immunotherapies for cancer and infectious diseases; also has programs for autoimmune diseases and transplant rejection) will use the initial proceeds from its $42.5mm Series E round to support the ongoing ADAPT pivotal Phase III trial of AGS003 for metastatic renal cell carcinoma. Pharmstandard International SA (the holding company of Pharmstandard OJSC, represented by Inbio Ventures) led the financing with a $12mm investment (buying 9.2mm shares and 1.4mm in warrants), and in two subsequent tranches is expected to provide another $12mm and $6mm, respectively, based on AGS003’s Phase III results. The Series E also included new buyer Green Cross Corp. and returning backers Forbion Capital, TVM Capital, Lumira Capital, Intersouth Partners, Caisse de depot et placement de Quebec, Morningside Group, and Aurora Funds. Concurrent with the financing, Pharmstandard licensed rights to commercialize AGS003 in Russia and the CIS, while Green Cross received rights in South Korea.
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