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Gradalis Raises $24M in Series B


Gradalis announced this week that it has closed a $24 million Series B round of financing.

The money, the firm said, would be used to fund late-stage clinical development of its FANG cancer vaccine, and to ramp up manufacturing to accommodate the therapy's commercial launch. The funding will also be used to advance Gradalis' bi-functional shRNA drug candidates.

The FANG vaccine, which incorporates the shRNA technology, is currently in phase II testing in patients with ovarian cancer, advanced melanoma, and colorectal cancer. Gradalis also has a purely RNAi cancer drug in phase I.

A company official recently told Gene Silencing News that the firm is aiming to expand the use of its technology through partnerships (GSN 10/11/2012).