AMES, Iowa, Nov. 5 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.
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"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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About NewLink Genetics Corporation
NewLink Genetics Corporation is a biopharmaceutical company applying innovative approaches to create new therapeutic agents for patients with cancer and infectious diseases. Its technologies are designed to enhance the patient's immune system, enabling the body's immune cells to attack their intended target.
Contact NewLink Genetics Corporation Gordon Link, CFO, 515-296-4351
SOURCE NewLink Genetics Corporation
