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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