What To Know
- Steven Reed, CEO of HDT, said of the funding and programs, “This investment, combined with our other sources of non-dilutive funding and early-stage revenue, puts us in a position to advance at least three products into the clinic in the next twelve months.
- Existing HDT Bio leadership has decades of experience navigating the preclinical to clinical transition and will look to complement that with clinical staff versed in oncology and infectious disease trials.
October 5, 2020
HDT Bio Corp., a biotechnology company enabling global access to immunotherapies for oncology and infectious disease, has announced the close of its seed financing round totaling ~$3 million. The round was co-led by Zoic Capital and joined by angel investors from multiple biotechnology hubs. Proceeds will be used largely to support the continued development of the company’s COVID-19 vaccine candidate, HDT-301.
HDT Bio notes the vaccine is slated to enter clinical trials in Q4 2020 in partnership with the NIH/NIAID.
In addition to HDT-301, the company has a variety of other immunotherapy technologies highlighting different approaches to immune stimulation or modulation. Dr. Steven Reed, CEO of HDT, said of the funding and programs, “This investment, combined with our other sources of non-dilutive funding and early-stage revenue, puts us in a position to advance at least three products into the clinic in the next twelve months.”
Neal Mody, Managing Director at Zoic Capital, commented, “We’re excited to invest in HDT Bio and help the company grow to its full potential. HDT has multiple assets derived from exciting technology platforms that we see as a tremendously de-risking feature for companies at their stage.”
As the company expands operations it will complement an established research and discovery team with clinical development expertise. Existing HDT Bio leadership has decades of experience navigating the preclinical to clinical transition and will look to complement that with clinical staff versed in oncology and infectious disease trials.