Return to main press room page Therion Completes $36.5 Million Private Financing to Advance Clinical Development of Therapeutic Cancer Vaccines Cambridge, MA, October 30, 2001 -- Providing new resources to advance the company's clinical development programs, Therion Biologics today announced that it has closed a $36.5 million private financing with leading venture investors. Therion will use the funds to support pivotal clinical trials of PROSTVAC-VF, the company's lead cancer vaccine for prostate cancer, and to accelerate the development of its additional therapeutic cancer vaccine programs. The financing was led by a group including Hans-Werner Hector, one of the founders of the world-leading German software company SAP. In addition to Mr. Hector's investment in Therion, he has established one of the largest private charitable foundations in Germany, through which he actively contributes to the fight against cancer and AIDS. Mr. Hector will also join the company's Board of Directors. Other participants in the round included Sofinov, S.R. One Limited, H&Q; Healthcare, H&Q; Life Sciences, Loeb Investors, and several other prior Therion investors. Legg Mason Wood Walker, Incorporated served as placement agent for the transaction. "This year Therion has made strong clinical progress. Most significantly, we have demonstrated the ability of our proprietary cancer vaccines to enhance patient survival by eliciting a positive immune response against cancer," said Dennis Panicali, Ph.D., President and Chief Executive Officer of Therion Biologics. "Our findings now allow us to aggressively advance and expand our current clinical studies of therapeutic vaccines for the treatment of prostate, colorectal, breast and other cancers. Therion's principle goal is to move our lead product, PROSTVAC-VF, into Phase III trials." "Therion is a leader among the companies pursuing cancer immunotherapy. The company's unique pox virus vaccine products show promise as new treatments that may offer therapeutic benefits and an improved quality of life," said Mr. Hector. "We also recognize the value in quickly advancing PROSTVAC-VF through the final stages of clinical development to meet the growing demands of prostate cancer patients." About PROSTVAC-VF Like all Therion vaccine products, PROSTVAC-VF is designed to stimulate the body's innate immune response to recognize and attack cancer cells. Specifically, PROSTVAC-VF is a recombinant vaccine that targets prostate-specific antigen (PSA), a protein produced by prostate tumor cells. Therion's PROSTVAC-VF product consists of two components that are designed, respectively, to "prime" or generate an initial immune response, and to serve as a booster to enhance and sustain that therapeutic response. PROSTVAC-VF is currently in four Phase II clinical trials to evaluate the vaccine's safety and clinical efficacy. Therion is collaborating with the Dana Farber Cancer Institute, Eastern Cooperative Oncology Group and National Cancer Institute (NCI) on these trials. Clinical studies at the NCI include trials in patients with both late and early stage metastatic prostate cancer. New Appointments to the Board of Directors In conjunction with the financing, Therion has named Hans-Werner Hector, a co-founder of SAP and founder of the H.W. & J. Hector Foundation, to the company's Board of Directors. The H.W. & J. Hector Foundation, one of the largest charitable foundations in Germany, is focused on advancing medical research in cancer and AIDS. Also joining Therion's Board is Ekkehart Hassels-Weiler, President of Eagle Advisors, Mr. Hector's principal financial advisor in the United States. Mr. Hector and Mr. Hassels-Weiler bring substantial experience in business development and management to the Board. About Legg Mason Legg Mason Wood Walker, Incorporated (member NYSE / SIPC) is the investment banking subsidiary of Legg Mason, Inc. (NYSE: LM). Legg Mason, Inc. is a financial services holding company that provides related financial services through its wholly owned subsidiaries. About Therion Biologics Therion Biologics Corporation is focused on the development of therapeutic vaccines for cancer and preventive vaccines for AIDS. Currently, Therion's most advanced product programs, PROSTVAC-VF, in Phase II studies for prostate cancer, and ALVAC-CEA/B7.1, in development for colorectal cancer under a strategic collaboration with Aventis Pasteur, will move into pivotal clinical trials in the next two years. The company also has a broad pipeline of vaccines in early clinical development for treatment of major cancers, including breast cancer, melanoma and other solid tumors. In addition to Aventis, Therion's partners include the National Cancer Institute and a network of leading clinical institutions around the world. Therion is headquartered in Cambridge, Massachusetts. Contacts: Dennis L. Panicali, Ph.D. President and CEO Therion Biologics Corporation (617) 876-7779 Sharon Karlsberg Vice President Feinstein Kean Healthcare (617) 577-8110 ### Back to the top Main Page News Release Archive Media Coverage Copyright © 2001 by Therion Biologics Corporation.