Candel Therapeutics CEO Dr. Paul Peter Tak joined Steve Darling from Proactive to announce that the company has entered into a five-year, $130 million term loan facility with Trinity Capital, marking a significant step in strengthening its balance sheet and funding its clinical pipeline. The loan consists of four tranches, with the first $50 million drawn immediately upon closing. The second and third tranches, totaling $50 million, will be available upon achieving specific regulatory, clinical, and operational milestones, while the final $30 million tranche may be drawn at the lender’s discretion. The facility carries an initial interest rate of 10.25% per annum, either fixed or floating at Candel’s option, and a five-year term with an interest-only period of 36 months, extendable by an additional year upon achieving a commercial milestone. The agreement also includes customary covenants and default provisions. Dr. Tak emphasized that this financing provides the company with the flexibility to advance its most promising oncology assets, particularly CAN-2409 and CAN-3110, while exploring strategic partnerships to support additional indications. Candel has prioritized its portfolio to focus internal resources on CAN-2409 in early localized prostate cancer and non-small cell lung cancer (NSCLC)—two of the largest oncology markets—while seeking externally funded partnerships for the pancreatic ductal adenocarcinoma program. The company reported compelling Phase 2a data, successful enabling work for a Phase 2b/3 trial, and received Orphan Drug Designation from the EMA for this indication. Dr. Tak noted that these developments reflect Candel’s commitment to delivering innovative viral immunotherapies for patients with difficult-to-treat cancers, while maximizing shareholder value through disciplined capital management and targeted clinical execution. #proactiveinvestors #candeltherapeuticsinc #nasdaq #cadl #CancerTreatment #ViralTherapy #ProstateCancer #PancreaticCancer #Glioblastoma #PaulPeterTak #ClinicalTrials #BiotechNews #Immunotherapy #Oncology #CancerResearch