NewLink Genetics Corporation announced today that it has closed a $30 million Series C financing to accelerate the clinical development of its therapeutic cancer products. Total cash raised in 2009 under a combination of the previously announced Series D Preferred and the remaining shares in the Series C Preferred totaled just under $20 million.
"NewLink is continuing to accrue patients in Phase 2 studies evaluating drugs developed out of its HyperAcute cancer immunotherapy platform," said Dr. Charles Link, Chairman and Chief Executive Officer of NewLink Genetics Corporation. "The proceeds of this financing will be used both to expand our cGMP manufacturing capacity and to aggressively move our lead immunotherapy product for pancreatic cancer into pivotal clinical studies."
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