Navrogen Raises $3M in Venture Capital Financing to Advance Cancer Therapy Platform

A 4-year-old biotechnology company based on the campus of Cheyney University of Pennsylvania has raised $3 million in a venture capital financing.

Navrogen Inc. plans to use the proceeds from the seed funding round to support its technology platform being used to develop potential new therapies targeting immunosuppressed cancers and immune-mediated diseases.

The financing was led by Tellus BioVentures of Miromer Lakes, Florida, and included participation by the company’s previous investors.

Navrogen in 2019 raised $3.2 million through a convertible note financing led by Ben Franklin Technology Partners of Southeastern Pennsylvania. Those notes have been converted into equity, according to the company and documents filed with the Securities and Exchange Commission.

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