Food allergy biotech gets $50M loan; Sean Ianchulev’s medical device company raises a $23M Series B
Alladapt Immunotherapeutics put out word on Tuesday that it has entered into a term loan agreement with Hercules Capital for up to $50 million.
According to the biotech, which focuses on IgE-mediated food allergies, this new injection of capital will be used to support the clinical development of Alladapt’s lead asset, ADP101, through the initiation of a Phase III trial, as well as the completion of its manufacturing facility intended for the clinical supply of the candidate and a potential commercial product.
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