Latham & Watkins Advises RTW Investments on US$100 Million Royalty Funding Agreement With Candel Therapeutics

Candel Therapeutics, Inc. (Nasdaq: CADL), a clinical-stage biopharmaceutical company focused on developing multimodal biological immunotherapies to help patients fight cancer, has announced a US$100 million royalty funding agreement with funds managed by RTW Investments, LP (RTW), subject to FDA approval of aglatimagene besadenovec (CAN-2409) in intermediate- to high-risk, localized prostate cancer.

Latham & Watkins LLP advised RTW in the funding agreement with a corporate deal team led by Bay Area partner Todd Trattner, with associates Axel Magnusson and Ian Drazen. Advice was also provided on tax matters by Los Angeles partner Eric Cho, with associate Sam Yang.