Argos Therapeutics, a biotechnology company previously known as Merix Bioscience, has raised $4.85m from 27 undisclosed investors in the first close of its latest funding round.
The round is expected to close at $6m, according to a regulatory filing first reported by news provider TechJournal South.
Argos closed its series C round in November 2008 at $35.2m led by venture capital (VC) firm TVM Capital. Others in the C round were Asia-based VCs Mizuho Capital, Morningside Group and Japan Asia Investment Company as new investors, existing VCs Lumira Capital, Forbion Capital Partners, CDP Capital, Intersouth Partners, Aurora Capital and GeneChem, which was launched in 1997 as the corporate venturing division of BioChem Pharma, subsequently merged with Shire Pharmaceuticals. Kyowa Hakko Kirin, a Japan-based drugs company that also has a worldwide collaboration with Argos, also participated in the C round having taken equity in 2004.
The company’s B round raised $39.5m in September 2001 after launching in 1997.