Business & Finance

Genetics therapy-focused biotech company completes $30 million financing

Published in Vaccine Weekly, November 16th, 2005

VIRxSYS Corporation, a privately held company developing genetic therapies for HIV and cancer, announced the final closing of its latest financing round. The series F preferred stock financing totaled approximately $31 million.

Earlier closings of this round were used to complete the company's phase 1 clinical trial for the company's VRX496 gene-based anti-HIV immunotherapy. The remainder of the funds will be used for their phase 2 trial and to continue to advance the development of the company's lentiviral vector platform technology.

The series F offering was VIRxSYS' fifth financing round since the company's founding in 1998. The company's...

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Source: Vaccine Weekly (2005-11-16)

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