Argos Therapeutics, a Duke University immunotherapy spinout started with help from a $10,000 North Carolina Biotechnology Center Business Development Loan in 1998, has closed on a new $35.2 million financing package.
The Durham company has developed several platform technologies and a diverse pipeline of product candidates based on the biology of dendritic cells -- the master switches that turn the immune system on and off. Argos' focus is on developing new treatments for cancer, infectious and autoimmune diseases, and transplantation rejection.
The tranched Series C financing was led by TVM Capital and included participation from new investors Mizuho Capital, Morningside Group and Japan Asia Investment Co. Existing Argos investors Lumira Capital, Forbion Capital Partners, CDP Capital, Intersouth Partners, Aurora Capital, and GeneChem also participated in the round, with several of these investors participating significantly above their pro rata share. Kirin Pharma Company, which has an ongoing worldwide collaboration with Argos, also participated.
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