Argos Therapeutics Raises $5.0 Million in Debt Financing
DURHAM, N.C. — April 20, 2007 — Argos Therapeutics today announced that it has raised $5.0 million in a three-year debt financing arrangement with Silicon Valley Bank and Oxford Finance Corporation. The financing will be used primarily to fund the Company's three ongoing clinical trials in renal cell carcinoma (Phase 2), chronic lymphocytic leukemia (Phase 1/2) and HIV (Phase 1), utilizing its personalized RNA-loaded dendritic cell-based immunotherapy ("Arcelis") technology for cancer and HIV.
"These resources provide Argos with additional flexibility with respect to financing the advancement of our pipeline of personalized immunotherapy candidates," said John Bonfiglio, Ph.D., President and CEO of Argos Therapeutics. "In 2007 we expect to report durable response data from our chronic lymphocytic leukemia trial, as well as immune response and safety data from our HIV trial."
About Argos Therapeutics, Inc.
Argos Therapeutics is developing breakthrough immunotherapies that target
the unique features of a patient's disease. This new generation of
personalized cancer and infectious disease therapeutics trains the
immune system to recognize and attack the disease. Argos' scientific
leadership in RNA-loaded dendritic cells and advanced manufacturing
processes provide a platform to tackle virtually all forms of cancers
and infectious diseases.
Argos is a private biotechnology company headquartered in Research Triangle Park, NC. The Company has clinical trial programs in cancer and human immunodeficiency virus (HIV) and has an ongoing co-development and commercialization alliance with the Pharmaceutical Division of Kirin Brewery Company, Limited.