Date: 2016-09-12
Type of information: Series A financing round
Company: Advantagene (USA - MA)
Investors: National Securities Corporation (USA - NY)
Amount: $14.2 million
Funding type: series A financing round
Planned used: Proceeds from the financing will be used to advance a pivotal Phase 3 clinical trial of ProstAtak® (GMCI™
for prostate cancer), under a Special Protocol Assessment agreement with the FDA, in newly diagnosed localized prostate cancer for patients choosing radiation therapy. The funds will also be used to complete a Phase 2b trial in localized prostate cancer patients choosing active surveillance and to support clinical activities in brain, lung and pancreatic cancer. The company also plans to advance the development of commercial scale manufacturing.
Others: * On September 12, 2016, Advantagene announced that it has closed on a private placement of its Series A Convertible Preferred Stock resulting in gross proceeds of $14.2 million. National Securities Corporation acted as sole placement agent for the financing. This transaction follows on Advantagene’s convertible debt financing late last year of $2.2 million.
Therapeutic area: Cancer - Oncology
