Candel Therapeutics has priced a $100 million public offering, aiming to enhance its aglatimagene besadenovec program, an innovative oncolytic virus-based therapy designed for cancer treatment. This strategic move comes as the company seeks to bolster its financial resources to advance its clinical pipeline and expand its market presence. The funds raised will play a crucial role in accelerating the development of this promising therapy, which is currently in clinical trials.
In conjunction with the offering, Candel has also entered into a $100 million royalty agreement, further solidifying its financial footing. This dual approach not only provides immediate capital but also aligns with the company’s long-term growth strategy. As Candel positions itself within the competitive oncology landscape, these financial maneuvers may enhance its ability to attract partnerships and drive innovation, ultimately benefiting stakeholders across the pharmaceutical supply chain.
Start your 7-day trial and see what the database can do →
