PDS Biotech Completes $35 Million Financing Agreement Led By Horizon Technology Finance

Funding Rounds

▤ Summary

Initial tranche of $25 million provides funding in preparation for registrational trial for lead candidate PDS0101 Conference call scheduled for Thursday, August 25, 2022 at 8:00 AM EDTFLORHAM PARK, N.J., Aug. 24, 2022 (GLOBE NEWSWIRE) -- PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer immunotherapies and infectious disease vaccines based on the Companys proprietary Versamune\xae and Infectimune T cell activating technologies, today announced that it has entered into a debt financing agreement led by Horizon Technology Finance Corporation (NASDAQ: HRZN) (Horizon) to provide up to a $35.0 million term loan.We are pleased to partner with Horizon, a leading specialty finance company that has an extensive history of supporting innovative life science companies, said Frank Bedu-Addo, Chief Executive Officer of PDS Biotech. We look forward to our meeting with the U.S. Food and Drug Administration this quarter to discuss the registrational trial design for our lead program.As part of the financing, PDS Biotech received an initial tranche of $25 million at the close. Proceeds will be used to support the ongoing clinical development of PDS0101 and other product candidates within the companys pipeline and for general working capital purposes.Further information with respect to the debt financing agreement with Horizon will be contained in a current report to be filed on Form 8-K by PDS Biotechnology with the Securities and Exchange Commission.Conference Call and Webcast The conference call is scheduled for Thursday, August 25, 2022 at 8:00 AM EDT. We believe our targeted Versamune\xae based candidates have the potential to overcome the limitations of current immunotherapy by inducing large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T cells. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Portland, Maine, Austin, Texas, and Reston, Virginia.

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Investors Horizon Technology Finance Lead investors
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