Madison Vaccines Incorporated (MVI) announced this week it raised $8 million in a Series A financing round led by Venture Investors, LLC.

The Madison-based biopharmaceutical company seeks to advance research and clinical testing on cutting-edge therapies for prostate cancer. According to a release, the proceeds will support the completion of a Phase 2 clinical trial for MVI-816, a DNA vaccine for non-metastatic prostate cancer patients.

“The Series A financing of MVI is important because it enables us to advance our work with MVI-816 beyond our basic research and previously completed Phase 1 studies,” Dr. Douglas McNeel, Scientific Co-Founder of MVI, said in a statement. “MVI is now well-positioned to support completion of both preclinical and Phase 1 safety studies, which are critical to enable future efficacy studies.”

Additional support came from the Wisconsin Alumni Research Foundation, Venture Management, LLC, and the State of Wisconsin Investment Board, amongst others.