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Article: CancerVax Gains $41M In Series C Round For Phase III Candidate.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
CancerVax Corp. secured $41 million in a Series C round of financing from a group of undisclosed new and existing investors.
The Carlsbad, Calif.-based company, which has raised $126 million since its first round of venture financing in December 2000, said it would use the funds to continue Phase III trials of its Canvaxin product in skin cancer patients. It expects the financing to last at least a year, said Julie Ames, CancerVax's director of corporate communications, adding that the funding would not be sufficient to complete the trials. She also noted that there were no changes to the company's nine-member board following the investment. ...