Trinity Capital (TRIN) announced the commitment of $130M in growth capital to Candel Therapeutics (CADL). Candel Therapeutics is developing a clinical pipeline of off-the-shelf cancer treatments that aim to empower a patient’s own immune system to fight cancer. The company’s leading therapies, CAN-2409 and CAN-3110, focus on treating solid tumors in a variety of cancers including prostate, pancreatic, lung, and brain cancer. Candel has been granted multiple FDA designations for localized prostate cancer, non-small cell lung cancer and both its pancreatic and brain cancer programs. Trinity’s investment will be used to support Candel’s clinical development of CAN-2409, as well as pre-commercial and launch readiness activities for CAN-2409 in prostate cancer, pending regulatory approval.
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