Argos Therapeutics hopes to go public and raise a lot of money in process.
The privately held, venture capital-backed biopharmaceutical firm filed plans with the SEC for an initial public offering of stock on Friday.
Argos looks to raise $86 million.
The company is backed by local venture capital firms Intersouth Partners and Aurora Funds.
Argos is focused on development of drugs that are based on individualized treatment. Targeted therapies for HIV, cancer and other infectious diseases are underway.
Proceeds from the IPO would be used to fund further clinical trials, the company said in the filing.
In the filing, Argos reported losses of $9.1 million in 2010, $10 million in 2009 and $13.3 million in 2008.
Read the filing here.
Lazard Capital Markets and Canaccord Genuity are handling the IPO for Argos.
Argos’ proprietary technology is called Arcelis that focuses on an individual’s immune system. Its most advanced compounds focus on treatment of metastatic renal cell carcinoma and HIV.
Research on the HIV treatment is being funded in large part by a $21 million contract Argos received from the National Institutes of Health in 2006.
Argos has raised some $88 million from investors.
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