Candel Therapeutics Announces Restructuring to Prioritize Resources on Key Value Drivers for Expanded Development of CAN-3110, the enLIGHTEN Discovery Platform, and Key Clinical Readouts for CAN-2409
NEEDHAM, Mass. Nov. 28, 2023 - Candel Therapeutics, a clinical-stage biopharmaceutical company specializing in multimodal biological immunotherapies for cancer treatment, has recently made a strategic decision to restructure its operations. The aim of this restructuring is to concentrate on the continuation and expansion of the development of CAN-3110 and the enLIGHTEN Discovery Platform.
As part of this strategic shift, Candel will be reducing its workforce and expenses associated with enabling the commercial readiness of CAN-2409. By reallocating resources towards the key value drivers, the company seeks to accelerate the development of CAN-3110 and the enLIGHTEN Discovery Platform, driving their potential to help patients fight cancer.
CAN-3110 represents an exciting avenue for Candel Therapeutics. The company expects to present initial activity and biomarker data for repeated injections of CAN-3110 in recurrent high-grade glioma in the second half of 2024. This data will shed light on the potential efficacy of CAN-3110 and its ability to combat this challenging form of cancer.
The enLIGHTEN Discovery Platform is another key focus for Candel Therapeutics. The company aims to release new data for the second drug candidate based on this platform in the third quarter of 2024. This update will provide insight into the platform’s capabilities and its potential to revolutionize cancer treatment.
While reducing its emphasis on CAN-2409’s commercial readiness, Candel will continue to collect clinical data for key readouts in various cancer types. For non-small cell lung cancer (NSCLC), the company expects to announce topline overall survival data of the open-label phase 2 clinical trial in the second quarter of 2024.
In pancreatic cancer, an update on overall survival based on an interim analysis of the randomized, open-label clinical trial is anticipated in the second quarter of 2024. For prostate cancer, topline data for both the fully enrolled randomized, blinded, placebo-controlled phase 2 and phase 3 clinical trials are expected in the fourth quarter of 2024.
This restructuring represents a strategic decision by Candel Therapeutics to focus on its most promising assets. By prioritizing the development of CAN-3110 and the enLIGHTEN Discovery Platform, the company aims to accelerate breakthroughs in cancer treatment and positively impact patient outcomes.
In conclusion, Candel Therapeutics’ recent strategic restructuring allows them to prioritize key value drivers in their portfolio. By allocating resources towards the development of CAN-3110 and the enLIGHTEN Discovery Platform, the company is positioning itself to make significant advancements in cancer research and treatment.
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