On September 30, 2025 Toragen, Inc., a clinical-stage biotechnology company developing a first-in-class, oral small molecule HPV E5 protein inhibitor targeting cancers caused by the human papillomavirus ("HPV"), reported the successful completion of a $12 million convertible note financing (Press release, Toragen, SEP 30, 2025, View Source [SID1234656363]).
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The financing was led by Steven Lebow, who will join Toragen’s Board of Directors along with his designee, Dr. Scott Rasgon. GenHenn Capital also participated with a significant investment and will be represented on the Board by Bill Hagaman, COO of GenHenn Capital. In addition, Cathleen May, PhD, will assume the Board seat of the late Paul Engler, representing the Paul F. and Virginia J. Engler Foundation.
"This financing enables us to advance the next critical steps in developing TGN-S15, our lead candidate, and prepare for our upcoming clinical trial," said Sandra Coufal, MD, CEO of Toragen. "We are grateful for the support of our investors and are excited to welcome four distinguished new members to our Board who bring deep expertise and commitment to our mission of developing an effective treatment for HPV-driven cancers."
The majority of proceeds from this financing will support CMC and IND-enabling studies for TGN-S15.
About Steven E. Lebow
Steven Lebow is widely recognized in the investment banking community for his 21-year tenure as Managing Director at Donaldson, Lufkin & Jenrette (DLJ), where he led the Retail Investment Banking Group and advised clients across the U.S., Europe, and Latin America.
He has been an early investor in companies including Costco, Starbucks, PetSmart, Dick’s Sporting Goods, and Ulta Beauty, generating returns between 100x and 600x and helping drive their combined market capitalization above $600 billion. In recognition of his achievements, Steven was inducted into the DLJ "Hall of Fame" in 1995.
He later co-founded Global Retail Partners, a venture capital firm that became GRP Partners, and has continued to be a prominent figure in finance and investment. Steven earned his BA in Economics and Political Science, magna cum laude and Phi Beta Kappa, from UCLA and an MBA from the Wharton School at the University of Pennsylvania, where he was awarded the Exxon Fellowship.