BioVex raises $40M in private financing
BioVex, a US company developing new generation biologics for the treatment and prevention of cancer and infectious disease, has raised $40.0 million in the first close of a series F private financing.
The placement was led by Forbion Capital Partners, which was joined by other existing investors including Credit Agricole Private Equity, Harris & Harris Group, Innoven Partners, New Science Ventures, Triathlon Medical Venture Partners and Scottish Equity Partners.
BioVec chief executive Philip Astley-Sparke said: "following the unprecedented number of durable complete remissions generated with our lead cancer product, OncoVEX GM-CSF in a Phase II study in metastatic melanoma, the funds will be used to commence a pivotal Phase III study. The board is currently examining a number of options to raise a further $20.0 million to fund preparations for a BLA filing following the generation of Phase III data in 2010."
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