Moscow, March 15, 2016 – Pharmstandard International, S.A., actively led and successfully closed a private placement financing (PIPE) of Argos Therapeutics, Inc. (Nasdaq: ARGS) (“Argos”), an immuno-oncology company focused on the development and commercialization of truly individualized immunotherapies for the treatment of cancer based on the Arcelis® technology platform. The securities purchase agreement anticipates the total investment up to $60 million in Argos’ common stock and warrants to fund the Company operations into the second half of 2017, when the final data from its pivotal Phase 3 ADAPT trial is expected.
The financing will take place in up to three tranches, with second and third closings being subject to positive output of interim data analysis from the phase 3 ADAPT trial by the Independent Data Monitoring Committee, scheduled in June and December 2016, correspondingly. Other participants in this financing include Forbion Capital Partners, Tianyi Lummy International Holdings Group Ltd., China BioPharma Capital I, L.P., TVM Capital GmbH and Wasatch Advisors, Inc. For more information, please visit www.argostherapeutics.com.
About Pharmstandard International S.A./ Inbio Ventures
Pharmstandard International S.A. – is a company with the main focus on venture investments in innovative drugs/therapies with strong potential at global markets and in Russia. Pharmstandard International S.A. is a fully owned subsidiary of PJSC Pharmstandard (LSE:PHST) – Russia’s leading pharmaceutical producer.
Inbio Ventures is a management company representing Pharmstandard International, S.A., and providing professional support in venture transactions.