Tallac Therapeutics, Inc., a Burlingame, CA-based developer of multiple novel immunotherapies to fight cancer, received a $15m venture loan facility.
Horizon Technology Finance Corporation (NASDAQ: HRZN) provided the financing.
A sum of $5m has been initially funded.
The company will use the loan proceeds for general growth and working capital purposes.
Led by Hong I. Wan, Ph.D., president, CEO and co-founder, Tallac is developing multiple novel immunotherapies to fight cancer. Its innovative Toll-like Receptor Agonist Antibody Conjugate (TRAAC) platform enables systemic delivery of differentiated TLR9 agonists to activate a specific anti-cancer immune response for various solid tumor malignancies. TAC-001, the company’s lead clinical candidate, is the first to enter the clinic and is currently in an ongoing Phase 1/2 clinical trial in patients with advanced or metastatic solid tumors. Tallac is backed by premier investors including venBio, Lightstone Ventures, Morningside and MRL Ventures Fund.
FinSMEs
03/08/2023