On February 16, 2021 HDT Bio Corp., a developer of immunotherapies for oncology and infectious diseases, reported that it has raised an additional $3M as part of a seed financing round led by Zoic Capital for a total seed-stage raise of $6M (Press release, HDT Bio, FEB 16, 2021, View Source [SID1234575109]). The funding will support advancing HDT Bio’s three lead products into clinical trials this year.
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HDT Bio CEO Steven Reed said, "These funds will keep us on track to move into the clinic with products from all three of our immune activator platform technologies. We are excited to close our seed round and to move forward with clinical development."
Neal Mody, Managing Director at Zoic Capital, commented, "This is a milestone year for HDT Bio as it transitions into clinical development with multiple assets and numerous market opportunities worldwide."
HDT three lead products are:
HDT-301, a COVID-19 RNA vaccine which uses the company’s proprietary Lipid InOrganic Nanoparticle (LION) formulation to offer simpler and cheaper manufacturing, easier deployment, and vastly lower dosing than current mRNA vaccines.
HDT-201, a RIG-I immune-stimulating protein which improves the effectiveness of immuno-oncology drugs such as checkpoint inhibitors.
HDT-104, a protein that breaks down structural defenses erected by epithelial tumors, making cancers more responsive to treatment through immunotherapy and chemotherapy.
Since its founding in 2017, HDT Bio has raised a total of $16M through a combination of non-dilutive funding, international grants, private investment, and partnership revenue.