Candel Therapeutics Secures $100 Million Royalty Funding for Prostate Cancer Therapy

Candel Therapeutics has entered into a $100 million royalty funding agreement with RTW Investments to support its lead immunotherapy candidate. The financing is specifically tied to the potential commercial launch of CAN-2409, a treatment for localized prostate cancer. Under the terms of the deal, the funding is contingent upon receiving approval from the US Food and Drug Administration (FDA). This strategic move provides the biotechnology firm with significant non-dilutive capital, reducing the need for immediate equity financing. The partnership underscores investor confidence in the clinical potential of Candel’s oncology pipeline. If approved, the funds will facilitate the large-scale market entry of the novel immunotherapy.