Toca­gen shoots for $86 mil­lion IPO, spot­light­ing a high-risk shot at a quick OK for brain can­cer ther­a­py

A cou­ple of weeks af­ter Toca­gen nabbed the FDA’s break­through ther­a­py des­ig­na­tion for a new treat­ment for re­cur­ring brain can­cer, the San Diego-based biotech is try­ing its hand at an $86 mil­lion IPO.

The biotech has gath­ered some Phase I re­sults for a ther­a­py dubbed To­ca 511 & To­ca FC. To­ca 511 us­es a vec­tor to de­liv­er a gene ther­a­py to can­cer cells in the brain which con­verts To­ca FC in­to the can­cer agent 5-FU. When it kills can­cer cells, they re­lease anti­gens that then spark an im­mune re­sponse to help amp up the ef­fect of the ther­a­py, ac­cord­ing to the com­pa­ny’s S-1.

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