Horizon Technology Finance provided a $15 million venture loan facility to Tallac Therapeutics, of which $5 million was initially funded.
Tallac is developing multiple novel immunotherapies to fight cancer. Tallac’s Toll-like Receptor Agonist Antibody Conjugate (TRAAC) platform enables systemic delivery of differentiated TLR9 agonists to activate a specific anti-cancer immune response for various solid tumor malignancies. Tallac is backed by investors including venBio, Lightstone Ventures, Morningside and MRL Ventures Fund. The company will use the loan proceeds for general growth and working capital purposes.
“Tallac is advancing new immunotherapies that may make a tremendous difference in the ongoing fight against cancer,” Gerald A. Michaud, president of Horizon Technology Finance, said. “Through the development of antibody conjugate-based therapeutics, Tallac’s best-in-class therapies attempt to trigger innate and adaptive immune responses to best address the needs of patients. We are pleased to support Tallac’s continued work and its vital mission.”
“We are pleased to have Horizon’s support as we continue to make excellent progress in our TRAAC platform and programs,” Hong I. Wan, Ph.D., president, CEO and co-founder of Tallac Therapeutics, said. “We are excited to further progress our lead program, TAC-001, in the clinic and to advance additional agents to find difficult-to-treat cancers.”
