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Argos Therapeutics Secures $25 million Series D Financing to Commence Phase 3 ADAPT Study in Patients with Metastatic Renal Cell Carcinoma (mRCC) in Mid-2012
Date:4/24/2012

DURHAM, N.C., April 24, 2012 /PRNewswire/ -- Argos Therapeutics Inc. today announced that it has secured a $25 million Series D financing to support the commencement of its Phase 3 ADAPT study in patients with newly diagnosed, metastatic renal cell carcinoma (mRCC) in mid-2012. The financing was led by Forbion Capital and included other existing investors, including TVM Capital, Lumira Capital, Intersouth Partners, Caisse de depot et placement du Quebec, Morningside Group, and Aurora Funds. Argos's Arcelis™ immunotherapy, AGS-003, has also been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for the treatment of patients with mRCC.  The international Phase 3 ADAPT study is expected to commence in mid-2012 under a revised Special Protocol Assessment (SPA) agreement with the FDA. This pivotal study will evaluate the addition of AGS-003 to standard therapy versus standard therapy alone.

"With this latest round of financing Argos is well positioned to execute its business strategy and move forward with the planned Phase 3 ADAPT study of its lead product candidate, AGS-003," said Jeff Abbey, president and chief executive officer of Argos. "We recently presented updated results at the 2012 ASCO Genitourinary Cancers Symposium from a Phase 2 study of AGS-003 demonstrating prolonged survival in newly diagnosed, metastatic RCC patients.  Importantly, we also demonstrated that our intended mechanism of action, the induction of memory T cells, significantly correlated with improved overall survival.  The Phase 3 ADAPT study is designed to confirm these positive results and demonstrate that AGS-003 may be an effective, safe and readily combinable therapeutic option for patients with metastatic RCC."

Charles Nicolette, Ph.D., chief scientific officer and vice president of research and development of Argos, said, "The Fast Track designation by the FDA recogniz
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SOURCE Argos Therapeutics Inc.
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