Advantagene, Inc., an Auburndale, Mass.-based clinical stage biotechnology company focused on immuno-oncology products, closed on a $14.2m Series A funding round.
This transaction followed on convertible debt financing late last year of $2.2m.
The company intends to use the funds to advance a pivotal Phase 3 clinical trial of ProstAtak® (GMCI™ for prostate cancer), under a Special Protocol Assessment agreement with the U.S. Food & Drug Administration, in newly diagnosed localized prostate cancer for patients choosing radiation therapy. Proceeds will also be used to complete a Phase 2b trial in localized prostate cancer patients choosing active surveillance and to support clinical activities in brain, lung and pancreatic cancer. Advantagene also plans to advance the development of commercial scale manufacturing.
Led by Estuardo Aguilar-Cordova, Chairman of the Board and CEO, Advantagene is a biotechnology company developing its proprietary Gene Mediated Cytotoxic Immunotherapy (GMCI™) platform technology for the treatment of solid tumors. It is currently conducting a registration clinical trial with its lead candidate, ProstAtak®, under a Special Protocol Assessment approved by the U.S. Food and Drug Administration, for the treatment of localized prostate cancer patients with intermediate to high risk disease choosing radiation therapy.