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Vaccinogen closes on $80M in stock

Vaccinogen Inc., of Frederick, a cancer vaccine company, announced Monday that it completed the initial closing of a private placement of $80 million of units and common stock. Vaccinogen received gross proceeds of $10 million in this first closing. Vaccinogen is preparing to start a Phase IIIb study of a vaccine in patients with Stage 2 colon cancer. In a Phase III study, OncoVAX reduced recurrence of cancer from approximately one in three to one in 10 Stage 2 colon cancer patients. Vaccinogen also announced that Dr. Ben Carson, the noted pediatric neurosurgeon, has been appointed to the company’s board of directors and named chairman of the board. He is an emeritus professor of neurosurgery, oncology, plastic surgery and pediatrics at the Johns Hopkins School of Medicine.

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