DURHAM, N.C., June 22, 2017 (GLOBE NEWSWIRE) -- Argos Therapeutics, Inc. (Nasdaq:ARGS), an immuno-oncology company focused on the development and commercialization of individualized immunotherapies for the treatment of cancer and infectious diseases based on the Arcelis® technology platform, today announced the closing of its previously announced $6.0M private placement of a secured convertible promissory note with Pharmstandard International S.A.
“We appreciate Pharmstandard’s continued strong support for Argos,” stated Jeff Abbey, CEO of Argos Therapeutics. “This financing will enable us to continue the near-term clinical development of Rocapuldencel-T for the treatment of metastatic renal cell carcinoma (mRCC), including the pivotal ADAPT Phase 3 trial, and of AGS-004 for the treatment of HIV as we evaluate potential additional financing opportunities.”
“We are pleased to maintain our support for Argos,” noted Victor Kharitonin, Chairman of the Board of PJSC Pharmstandard. “We remain optimistic about the potential of the Arcelis technology for the treatment of mRCC and other indications. We look forward to continuing our collaboration with Argos and are pleased to reaffirm our commitment to the Company.”
About Argos Therapeutics
Argos Therapeutics is an immuno-oncology company focused on the development and commercialization of individualized immunotherapies for the treatment of cancer and infectious diseases using its Arcelis® technology platform. Argos' most advanced product candidate, Rocapuldencel-T, is being evaluated in the pivotal ADAPT Phase 3 clinical trial for the treatment of metastatic renal cell carcinoma (mRCC). In addition, Rocapuldencel-T is being studied in a Phase 2 investigator-initiated clinical trial as neoadjuvant therapy for renal cell carcinoma (RCC). Argos is also developing a separate Arcelis®-based product candidate, AGS-004, for the treatment of human immunodeficiency virus (HIV), which is currently being evaluated in an investigator-initiated Phase 2 clinical trial aimed at HIV eradication in adult patients.