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Candel’s Phase III Prostate Cancer Win Comes In the Nick Of Time

 
• By Andrew McConaghie

The biotech’s lead candidate now looks approvable as the first new localized prostate cancer treatment in 20 years – allowing Candel to raise much-needed funds – but a filing must wait

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Candel Therapeutics has secured a much-needed win for its herpes simplex-based immunotherapy, CAN-2409. Phase III results show it helped improve disease-free survival for men with localized prostate cancer, with the readout coming in the nick of time in terms of the company’s finances.

The Needham, MA-based biotech has been working to bring its pipeline of off-the-shelf viral immunotherapies to market for more than 20 years, but now looks to have a fileable candidate in CAN-2409, which could become

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More from Financing

Hengrui Set For Biggest Biopharma IPO So Far This Year

 
• By Dexter Jie Yan

Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

‘Market Developments’ Persuade Galapagos To Rethink Spin-Off

 
• By Andrew McConaghie

CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.

Azafaros Banks Over €130m To Advance Nizubaglustat Into Phase III

 
• By Kevin Grogan

The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.

More from Therapy Areas

Merck’s Welireg Adrenal Tumor Rollout Targets Specialized Centers

 
• By Alaric DeArment

The drugmaker won US FDA approval for the HIF-2α inhibitor in pheochromocytoma and paraganglioma, a rare cancer of the adrenal glands, in adolescents and adults.

Leo Roars To A Profit In Q1 As Adbry Grows In US

 
• By Kevin Grogan

The Danish firm's atopic dermatitis drug is holding its own despite strong competition from Sanofi/Regeneron’s Dupixent.

Multiple Launches Help Lilly’s Japan Growth

 
• By Ian Haydock

Lilly saw solid growth for its business in Japan last year on the back of several new launches and is building its obesity and Alzheimer's portfolios in the country.