aTyr Pharma Closes $10 Million Venture Debt Loan from Silicon Valley Bank
SAN DIEGO – July 29, 2013 – aTyr Pharma, an innovative rare disease therapeutics enterprise, announced today the close of $10 million debt financing from Silicon Valley Bank to support the clinical development of aTyr's first therapeutic program to treat rare autoimmune diseases and a rare disease pipeline in immunology.
"In conjunction with our Series D financing, this loan provides additional funding as we translate Physiocrine biology into a new class of protein therapeutics to treat many different types of immune disorders," said John Mendlein, Ph.D., CEO and executive chairman of aTyr Pharma.
Physiocrines act as extracellular signaling molecules to orchestrate cellular homeostasis in response to stress. Physiocrines are naturally occurring proteins derived from tRNA synthetases that play fundamental roles in the function of human physiology and the resolution of inflammation. As potent endogenous modulators of inflammation, Physiocrines offer the opportunity for modulating biological pathways through new naturally occurring mechanisms, many of which have multiple therapeutic advantages, including improved selectivity, efficacy and reduced side effect profiles compared to many existing anti-inflammatory therapeutics.
About aTyr Pharma
aTyr Therapeutics plans to build a pipeline of innovative therapeutic products based on Physiocrine biology. aTyr has established a dominant intellectual property estate to protect the core therapeutics as well as associated diagnostics. aTyr's key programs are currently focused on rare immunomodulation disorders in the areas of inflammation and auto-immunity. These diseases are serious potentially life threatening autoimmune conditions, for which there are currently no effective, safe, long term treatments. The privately held biotech was founded by The Scripps Research Institute Professor Paul Schimmel, a leading aminoacyl tRNA synthetase scientist, and is backed by top life sciences investors Alta Partners, Cardinal Partners, Domain Associates and Polaris Partners. For more information, please visit http://www.atyrpharma.com.