Antigenics to Raise $21 Million in Private Placement

The closing of the offering is subject to certain conditions, and is expected to occur later today. Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NasdaqGM:RODM), served as the exclusive placement agent for the offering.

Proceeds from the financing will be used primarily for funding key commercial and regulatory efforts, including the launch of Oncophage® (vitespen) in Russia and possible filings in Europe and Canada.

The securities issued in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state and securities laws.

Antigenics has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock issued in this private placement and the shares of common stock issuable upon exercise of the warrants issued in this private placement.

Antigenics (NASDAQ: AGEN) is a biotechnology company working to develop treatments for cancers and infectious diseases. The company’s investigational product portfolio includes Oncophage® (vitespen), a patient-specific therapeutic cancer vaccine approved in Russia and being considered for submission in additional countries as well as being evaluated in several indications; QS-21, an adjuvant being evaluated by Antigenics’ collaborative partners in approximately 15 clinical stage vaccines; Aroplatin™ (L-NDDP), a liposomal, third-generation platinum chemotherapeutic; and AG-707, a heat shock protein based therapeutic vaccine for the treatment of genital herpes. For more information, please visit antigenics.com.

Source: By Antigenics Inc.