VIRxSYS of Gaithersburg, MD, raised $31 million of venture capital in a final closing of its fifth round. The biotech company used money raised earlier in the round for a Phase I trial of its VRX496 gene-based anti-HIV immunotherapy. Much of the remainder of the money will go to a Phase II trial. VIRxSYS recently recruited Dr. Riku Rautsola as its new CEO. "Dr. Rautsola's track record in biotech suggests a bright future for VIRxSYS and its pipeline of gene-based medicines," said Eric Adams, CEO of EnGene and one of the investors in this round. "I expect VIRxSYS and VRX496 to eventually have a major impact on HIV patients and healthcare in general."
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