Argos Therapeutics Secures $42.5 Million Financing, Funds Pivotal Phase 3 ADAPT Trial for Personalized Immunotherapy
Lead Investor Pharmstandard Commits $30 Million and Receives Russian Commercialization Rights
DURHAM, N.C. – August 26, 2013 – 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™ 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."
About Pharmstandard International S.A.
Pharmstandard International S.A. - a holding company fully committed by OJSC Pharmstandard (LSE: PHST) – is aimed to make venture investments in pharmaceutical companies based in North America and Europe with strategic focus on innovative drugs with a strong potential to cover yet unmet medical needs in Russia and CIS countries. Inbio Ventures is a management company which provides professional support for drug development activities in Russia and overseas.
About the Arcelis™ Technology Platform
Arcelis is a fully personalized, active immunotherapy technology that captures all antigens, including mutated and variant antigens that are specific to each patient's disease. It has been shown to overcome immunosuppression by producing a durable memory T-cell response without adjuvants that are associated with toxicity. The technology can be leveraged to manufacture personalized therapies for any cancer or infectious disease.
The Arcelis process integrates readily into many current treatment paradigms, using only a small tumor or blood sample and the patient's own dendritic cells, which are derived and optimized following a single leukapheresis procedure. The proprietary process uses RNA isolated from the patient sample to program the dendritic cells to target the entire disease-antigen repertoire. The activated, antigen-loaded dendritic cells are then formulated into the patient's plasma and administered as an intradermal injection to produce the desired patient-specific immune response.
Arcelis technology also overcomes many of the manufacturing and commercialization challenges that have impeded other personalized cancer immunotherapies. Automated processes allow a single facility to serve all of North America and can be used to treat any cancer or infectious disease with the same manufacturing process and equipment.
About Argos Therapeutics
Argos Therapeutics is a biopharmaceutical company focused on the development and commercialization of fully personalized immunotherapies for the treatment of cancer and infectious diseases using its Arcelis™ technology platform. Argos´ most advanced product candidate AGS-003 has initiated a pivotal Phase 3 study for the treatment of mRCC, and the Company plans to have data from its Phase 2b study of AGS-004 for the treatment of HIV in the first half of 2014. For more information about Argos Therapeutics, visit www.argostherapeutics.com.
Source: Argos Therapeutics
The Ruth Group
Aaron Estrada (media)