Therion completes $36.5 mill financing
Therion Biologics of the USA has closed a $36.5 million privatefinancing with leading venture investors, the proceeds of which will be used to fund pivotal clinical trials of PROSTVAC-VF, the company's lead vaccine for prostate cancer.
The financing was led by a group including Hans-Werner Hector, one of the founders of the German software company SAP, while other participants in the round included Sofinov, H&Q Healthcare and Loeb Investors.
Dennis Panicali, Therion's chief executive, said the company has made strong clinical progress this year and has "demonstrated the ability of our proprietary cancer vaccines to enhance patient survival." Studies are also ongoing with vaccines for the treatment of colorectal, breast and other cancers.
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