Candel Therapeutics Analysis: $263M Raised
What is Candel Therapeutics?
Off-the-shelf viral immunotherapies for individualized cancer response
Employees
51-200
Founded
1999
Valuation
263.10M
HQ Full Address
Needham, Massachusetts, United States
Other Considerations
None available
Product Features & Capabilities
- CAN-3110 for recurrent high-grade glioma (phase 1)
- CAN-2409 for non-small cell lung cancer (phase 2)
- CAN-2409 for borderline resectable pancreatic cancer (phase 2)
- CAN-2409 for localized non-metastatic prostate cancer (phase 2 and phase 3)
- enLIGHTEN™ Discovery Platform using HSV-based analytics for solid tumors
Investment Focus
Candel Therapeutics primarily focuses on developing viral immunotherapies targeting various types of cancer. Their lead product candidate, CAN-2409, is currently in clinical trials for prostate cancer, non-small cell lung cancer (NSCLC), and borderline resectable pancreatic cancer (PDAC). The company aims to empower the immune system to fight these cancers through individualized responses and long-lasting protection.
Key Innovations
- CAN-3110 - A replication-competent herpes simplex virus (HSV) engineered to selectively kill cancer cells while sparing healthy cells.
- Adenovirus-based platforms - Candel utilizes genetically modified adenoviruses to create multimodal biological immunotherapies aimed at treating solid tumors.
- In situ vaccination - Their therapies are designed to cause in situ vaccination against unique antigens and neoantigens presented when tumor cells lyse, thereby activating the immune system. Candel Therapeutics is focused on advancing immuno-oncology through these innovative approaches, aiming to provide individualized responses for long-lasting protection against cancer.
Regulatory Approvals
Candel Therapeutics has received several regulatory designations for its products, including Orphan Drug Designation from the FDA for its lead product, CAN-2409, which is being developed for the treatment of pancreatic ductal adenocarcinoma (PDAC). Additionally, the company is preparing to submit a Biologics License Application (BLA) for CAN-2409 following positive results from its Phase 3 clinical trial in prostate cancer, which was conducted under a Special Protocol Assessment agreed with the FDA.
Awards Recognition
Candel Therapeutics has received several awards and recognitions in the biotech field, including the prestigious Innovation Prize presented by Frost & Sullivan in 2012. This award acknowledges the company's capability to develop innovative treatments for challenging diseases, such as autoimmune disorders and inflammatory conditions.
Latest Funding Round
Candel Therapeutics recently announced a public offering to raise $80 million. This funding round was launched to advance the development of their prostate cancer treatment pipeline. The offering consisted of 10,000,001 shares of common stock priced at $6.00 per share. The announcement was made approximately three months ago.
Partnerships
- IDEA Pharma - A strategic partnership to advance the commercialization of its lead cancer immunotherapy, CAN-2409.
- Partnership for Accelerating Cancer Therapies (PACT) - Collaborating on a lung cancer trial for CAN-2409. - [Source](https://ir.candeltx.com/news-releases/news-release-details/candel-therapeutics-and-partnership-accelerating-cancer)
- Batavia Biosciences - A partnership to accelerate the development and production of CAN-3110, an oncolytic viral immunotherapy for glioma brain tumors. - [Source](https://bataviabiosciences.com/batavia-and-candel-partnership/)
- Penn Medicine - A collaboration to pursue potential solid tumor CAR-T cell therapy. - [Source](https://pci.upenn.edu/penn-medicine-and-candel-therapeutics-partner-to-pursue-potential-solid-tumor-car-t-cell-therapy/)
- Sonrai Analytics - A partnership to advance the development of viral immunotherapies for cancer. - [Source](https://sonraianalytics.com/sonrai-analytics-and-candel-therapeutics-advance-the-development-of-viral-immunotherapies-for-cancer/)
- Bionaut Labs - A strategic partnership to advance treatment options for multiple cancers. - [Source](https://ir.candeltx.com/news-releases/news-release-details/bionaut-labs-and-candel-therapeutics-announce-strategic)
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Financial Overview
$263MTotal Raised
Candel Therapeutics recently announced a public offering to raise $80 million. This funding round was launched to advance the development of their prostate cancer treatment pipeline. The offering consisted of 10,000,001 shares of common stock priced at $6.00 per share. The announcement was made approximately three months ago.
