Argos gains funds to tackle proof of concept trial

Argos Therapeutics says that its newly announced $35.2 million Series C will fuel its development through 2009. At that point, says Argos CEO John Bonfiglio, the developer should have proof of concept data on hand from a mid-stage trial of its cancer vaccine. And then the company can choose between a public offering, raising more funds from investors and a possible buyout.

Argos' Arcelis technology combines an individual's immune cells with the genetic material of cancer and infectious diseases. It is developing RNA vaccine technology first discovered at Duke. Argos has forged a series of development deals with other developers and won a $21.3 million contract with the NIH. Argos was featured in FierceBiotech's weekly column on emerging drug developers. 

- see this Argos release
- read the story in the Triangle Business Journal