Argos Therapeutics Announces Closing of $6.0 Million Secured Convertible Note Financing
June 22 2017 - 8:00AM
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. (“Pharmstandard”).
“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.
Forward-Looking Statements
Any statements in this press release about
Argos’ future expectations, plans and prospects, including
statements about the expected and potential future closing of the
private placement, Argos’ financial prospects, anticipated use of
proceeds, future operations and sufficiency of funds for future
operations, and future expectations and plans and prospects for
Argos and other statements containing the words “believes,”
“anticipates,” “estimates,” “expects,” “intends,” “plans,”
“predicts,” “projects,” “targets,” “may,” “potential,” “will,”
“would,” “could,” “should,” “continue,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including
whether the conditions for the closing of the private placement
will be satisfied; whether Argos’ cash resources will be sufficient
to fund its continuing operations for the period anticipated;
whether the Company will be able to raise additional financing on a
timely basis; whether the Company will be able to enter into
arrangements with creditors; the impact of the analysis of the data
and discussions with the U.S. Food and Drug Administration on the
development of Rocapuldencel-T; the impact of the recommendation of
the Independent Data Monitoring Committee on the continuation of
the ADAPT trial; whether results obtained in clinical trials will
be indicative of results obtained in future clinical trials;
whether Argos’ product candidates will advance through the clinical
trial process on a timely basis; whether the results of such trials
will warrant submission for approval from the FDA or equivalent
foreign regulatory agencies; whether Argos’ product candidates
will receive approval from regulatory agencies on a timely basis or
at all; whether, if product candidates obtain approval, they will
be successfully distributed and marketed; whether Argos can
successfully establish commercial manufacturing operations on a
timely basis or at all; and other factors discussed in the “Risk
Factors” section of Argos’ Form 10-Q for the quarter ended March
31, 2017, which is on file with the SEC, and in other filings Argos
makes with the SEC from time to time. In addition, the
forward-looking statements included in this press release represent
Argos’ views as of the date hereof. Argos anticipates that
subsequent events and developments will cause Argos’ views to
change. However, while Argos may elect to update these
forward-looking statements at some point in the future, Argos
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Argos’ views as of any date subsequent to the date
hereof.
Media and investor contact:
Richard Katz, MD, MBA
Argos Therapeutics, Inc.
919-908-0687
rkatz@argostherapeutics.com