#USA #Cancer Treatment #Phoenix #Trinity Capital #Candel Therapeutics

Trinity Capital Inc. Supports Candel Therapeutics with $130 Million Investment

In a significant move within the biopharmaceutical industry, Trinity Capital Inc. has committed $130 million to Candel Therapeutics, Inc. This clinical-stage biopharmaceutical company is pioneering developments in viral immunotherapies aimed at empowering patients to combat cancer. The investment is expected to bolster Candel's efforts in advancing its clinical pipeline, which includes innovative therapies developed to target various cancers.

Advancing Cancer Therapies

Candel Therapeutics focuses on creating off-the-shelf cancer treatments. Their leading therapies, namely CAN-2409 and CAN-3110, are designed to treat a spectrum of solid tumors prevalent in cancers such as prostate, pancreatic, lung, and brain cancers. With multiple designations from the FDA, including the Regenerative Medicine Advanced Therapy Designation (RMAT) for localized prostate cancer, Candel is rapidly moving forward in its clinical trials. Both the Fast Track Designation for localized prostate and non-small cell lung cancer further positions them as a leader in innovative cancer therapies.

Rob Lake, Senior Managing Director of Life Sciences at Trinity Capital, emphasized the growing necessity for transformative cancer treatments. "As cancer incidence continues to rise, the need for truly transformative therapies has never been greater," Lake stated. This investment not only exemplifies Trinity Capital's commitment to advancing medical solutions but also highlights their partnership with Candel, which holds the potential to revolutionize the treatment landscape for critical conditions.

Strategic Use of Investment

The funds from Trinity's investment are earmarked to support the clinical development of CAN-2409. This includes preparing for its commercial launch, dependent on regulatory approvals. Paul Peter Tak, MD, PhD, FMedSci, President and CEO of Candel Therapeutics, noted that this funding aligns perfectly with their strategic goals, enhancing their balance sheet and significantly accelerating their capability to bring innovative treatments to market. He expressed confidence that with Trinity's flexible capital solutions, they are positioned to effectively execute their commercialization strategy and deliver enduring value to shareholders.

A Look at Candel's Treatment Innovations

Candel Therapeutics is focused on developing unique immunotherapy platforms that utilize genetically modified viruses. The company is making strides in its clinical trials, including successful results from their Phase 2a clinical trials for CAN-2409 in conditions like non-small cell lung cancer and pancreatic ductal adenocarcinoma. Furthermore, they have a pivotal Phase 3 clinical trial underway for localized prostate cancer, illustrating their robust commitment to tackling some of the most challenging cancer types.

The CAN-3110 candidate, derived from Candel's herpes simplex virus (HSV) platform, is currently undergoing a Phase 1b trial for recurrent high-grade glioma. The Fast Track and Orphan Drug Designations from the FDA showcase not only their innovative approach but also their potential for addressing critical unmet needs in oncology.

In addition to its current programs, Candel is spearheading its enLIGHTEN™ Discovery Platform, harnessing human biology and advanced analytics to discover new viral immunotherapies for solid tumors. This systematic approach underlines their commitment to research and development in the biopharmaceutical sector.

About Trinity Capital Inc.

Founded in 2008, Trinity Capital Inc. has positioned itself as a trusted partner in the alternative asset management landscape. Focusing on private credit markets, they deliver consistent returns through strategic investments in a variety of sectors including life sciences, equipment finance, and technology lending. Having deployed over $4.7 billion in more than 420 investments, Trinity Capital remains dedicated to providing tailored financial solutions to growth-oriented companies.

The partnership between Trinity Capital and Candel Therapeutics highlights the critical intersection of finance and groundbreaking medical research, aiming to improve patient outcomes in the face of growing cancer challenges. For more information on both companies, visit Trinity Capital and Candel Therapeutics.