Candel Therapeutics Welcomes Charles Schoch as CFO to Lead Growth
Candel Therapeutics Welcomes Charles Schoch as CFO
Candel Therapeutics, Inc. (Candel or the Company) (Nasdaq: CADL), a pioneering clinical-stage biopharmaceutical company dedicated to developing advanced biological immunotherapies for cancer, is excited to announce the permanent appointment of Charles Schoch as Chief Financial Officer (CFO). Mr. Schoch has been serving as the interim CFO since January 2024 and now transitions into this key role officially.
Exceptional Leadership Recognized
Charles Schoch's tenure has been marked by exceptional financial and organizational leadership. Paul Peter Tak, M.D., Ph.D., FMedSci, President and CEO of Candel, commended his effectual support of the company’s strategic priorities in a challenging market. Mr. Schoch has exemplified disciplined capital management while demonstrating a profound understanding of Candel’s mission and values. His insights will play a crucial role as the company advances its clinical pipeline, especially with the upcoming Biologics License Application submission for CAN-2409.
Career Growth and Contributions
Since joining Candel in late 2021, Mr. Schoch has progressed through various roles with increasing responsibility, culminating in his interim CFO position. During this time, he built vital investment banking relationships, managed engagements with prestigious institutional investors, and was instrumental in a capital raise that generated approximately $86 million, enhancing the company's resources for ongoing research and development. His role in overseeing Candel’s financial close process and SEC reporting has established a robust financial function within the company.
Mr. Schoch's Background
Before joining Candel, Charles Schoch served as Corporate Controller at Corbus Pharmaceuticals from 2019 until 2021. He also brings a wealth of experience from his seven years in PwC’s Health Industry assurance practice, working with various clients from pre-IPO to multinational public companies in the life sciences sector. An advocate for operational excellence, Mr. Schoch has consulted for several companies within the Third Rock Venture portfolio, enriching his expertise in both finance and operations.
Commitment to Growth
Mr. Schoch expressed his enthusiasm for continuing in this pivotal role. He highlighted the strong financial foundation that Candel has established, which positions the company excellently for sustainable growth. As they pursue significant milestones in their clinical programs, Mr. Schoch aims to ensure financial stability while strategically investing in Candel’s future advancements in cancer therapy.
Candel's Vision and Commitment
Candel is committed to developing innovative biopharmaceutical solutions that address major cancer challenges. With a dedicated focus on their clinical pipeline, particularly the promising CAN-2409, the company aims to bring significant value to stakeholders and meaningful solutions to patients battling cancer.
About Candel Therapeutics
Candel Therapeutics is dedicated to innovating off-the-shelf multimodal biological immunotherapies which stimulate an individualized anti-tumor immune response. Their primary product candidate, CAN-2409, represents the forefront of research utilizing genetically modified gene constructs to combat cancer. The company has achieved significant milestones, including successful phase 2a trials for CAN-2409 targeting non-small cell lung cancer (NSCLC) and pancreatic ductal adenocarcinoma (PDAC).
Ongoing Development and Future Trials
Candel has received FDA designations, such as Fast Track and Orphan Drug Designation for CAN-2409, evidencing its potential impact in treating various cancer stages. Their innovative candidate from the HSV platform, CAN-3110, currently undergoing a phase 1b clinical trial for recurrent high-grade glioma, showcases Candel’s commitment to pushing the boundaries of cancer treatment.
For those interested in learning more about Candel Therapeutics and their initiatives, further information is available on their official website.
Frequently Asked Questions
What does the appointment of Charles Schoch mean for Candel Therapeutics?
Charles Schoch's appointment as CFO reflects the company’s confidence in his ability to lead financial strategies that support Candel's growth and clinical advancements.
What is CAN-2409 and its significance?
CAN-2409 is Candel's leading product candidate designed to elicit a systemic anti-tumor immune response, crucial for treating various types of cancer, particularly prostate cancer.
What recent achievements has Candel accomplished?
Candel has successfully completed pivotal phase 3 trials for CAN-2409 and received important FDA designations that enhance its development pathway.
What is Candel's mission?
Candel Therapeutics aims to deliver innovative immunotherapies that empower patients in their fight against cancer, focusing on personalized treatment strategies.
How can I contact Candel Therapeutics?
Interested parties can reach out via the contact information provided on Candel's official website, connected to investor and media relations.
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