Gradalis, a Dallas, Texas-basedbiotechnology company, has raised $24m in Series B financing.
Backers were not disclosed.
Led by David Shanahan, president, CEO and co-founder, Gradalis focuses on developing, manufacturing and commercializing drugs, vaccines, tools and diagnostics primarily in the area of cancer. The company has two primary platforms: one focused on personalized autologous vaccines and the other focused on bifunctional short hairpin RNA delivered via a proprietary lipoplex.
Gradalis intends to use the capital to advance its autologous vaccine platform, FANG™, through late-stage clinical trials, expand manufacturing capabilities to accommodate commercial launch of FANG, as well as to progress the clinical and preclinical development of its bifunctional shRNA platform.