Monday, October 5, 2020

HDT Bio Announces Completion of Seed Financing Round

SEATTLE--()--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 continued development of the company’s COVID-19 vaccine candidate, HDT-301. 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.

ABOUT HDT BIO CORP: HDT Bio Corp’s mission is to bring immunotherapies to people around the world. With a focus on RNA, formulation, and adjuvant technologies, HDT Bio is developing biotherapeutics for oncology and infectious disease applications. HDT Bio simultaneously works to integrate therapeutic approaches for first-in-class medicines while building on decades of development experience with well-established pharmaceutical ingredients. The resulting products are poised to significantly improve the lives of millions of people worldwide and to provide access to lifesaving therapies for underserved populations. One of the company’s core technologies, RNA/LION™, combines formulation and adjuvant ingredients to stabilize and deliver RNA to the immune system to stimulate responses for therapy or vaccination.


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