Therion pockets $30M in new round

Cambridge, Massachusetts-based Therion Biologics has rounded up $30 million in its fourth round of venture capital. The round was led by Hans-Werner Hector, who helped found the software company SAP. Much of the money will fund the development of its cancer therapy, PanVac-VF and ProstVaC-VF. Phase II and Phase III data are expected in 2006.

"Therion is poised to make a significant impact on the treatment of cancer with our products designed to selectively seek out and destroy malignant cells without the serious side effects associated with cytotoxic chemotherapy," said Mark Leuchtenberger, president and CEO of Therion. "This financing reflects the ongoing interest among our investors for our programs and strategy as we move closer to a potential BLA filing for marketing approval of PANVAC-VF and the initiation of registration studies for PROSTVAC-VF in 2006."

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