Citius Oncology, Inc. has announced a combined financing package of up to $36.5 million aimed at accelerating the commercialization of its cancer therapy LYMPHIR®. The funding includes a senior secured term loan facility of up to $25 million from Avenue Venture Opportunities Fund II, L.P., part of Avenue Capital Group, along with approximately $11.5 million in expected proceeds from the exercise of certain outstanding warrants.
The financing is expected to strengthen the company’s financial position as it continues the rollout of LYMPHIR® (denileukin diftitox-cxdl), a therapy approved by the U.S. Food and Drug Administration for adult patients suffering from relapsed or refractory Stage I–III cutaneous T-cell lymphoma (CTCL) after at least one prior systemic treatment. CTCL is a rare and challenging form of cancer, and treatment options remain limited for patients who do not respond to initial therapies.
According to company leadership, the funding will be used to support commercial execution, expand working capital, and meet general corporate needs. Leonard Mazur, Chairman and CEO of Citius Oncology, emphasized that the credit facility aligns capital access with the company’s commercial performance goals. He noted that the partnership with Avenue Capital reflects strong institutional confidence in LYMPHIR’s long-term potential and the company’s strategic direction.
Mazur also highlighted that the additional capital from the warrant exercise provides immediate financial support to scale operations. This includes expanding commercial infrastructure, increasing physician awareness, and improving patient access to the therapy. The company aims to drive broader adoption of LYMPHIR among healthcare providers treating CTCL.
From the investor perspective, Chad Norman, Senior Portfolio Manager at Avenue Capital Group, expressed optimism about the collaboration. He described LYMPHIR as a differentiated, FDA-approved product with a focused commercial opportunity, adding that the firm is committed to supporting Citius Oncology’s efforts to maximize the therapy’s market potential.
The transaction was facilitated by H.C. Wainwright & Co., which served as the exclusive origination, structuring, and placement agent for the financings.
With this dual financing strategy, Citius Oncology is positioning itself to strengthen its commercial footprint and deliver improved treatment access for patients facing limited therapeutic options in CTCL.