Candel Therapeutics announces $100M royalty funding agreement

Candel Therapeutics (CADL) announced a $100M royalty funding agreement with funds managed by RTW Investments, subject to FDA approval of aglatimagene in intermediate- to high-risk, localized prostate cancer. The commercial launch royalty financing will become available upon FDA’s approval of aglatimagene, and satisfaction of certain other customary conditions. Under the terms of the agreement, RTW will receive a tiered single digit percentage of annual net sales of aglatimagene in the U.S., subject to a cap.