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2003 OCT 8 - (NewsRx.com & NewsRx.net) -- Therion Biologics Corporation has successfully secured private equity financing totaling $39 million for the advanced clinical development of Panvac-VF and Prostvac-VF, its lead vaccine candidates to treat pancreatic cancer and prostate cancer, respectively.
The company anticipates beginning a phase II trial of Prostvac-VF in prostate cancer in late 2003, followed by the initiation of a phase II trial of Panvac-VF in pancreatic cancer in early 2004.
The funds will also be used to expand Therion's manufacturing capabilities at its newly completed 11,000 square foot manufacturing facility, built to GMP (Good Manufacturing Practice) specifications.
The company is planning to grow its manufacturing and related operations to 25 employees over the next year to support the production of trial- and commercial-sized quantities of its proprietary cancer vaccines.
The financing was led by investor/philanthropist Hans-Werner Hector, one of the founders of SAP AG, a software company. Other participants in the financing ...