Malvern, PA-based TetraLogic Pharmaceuticals has rounded up $32 million in Series C cash to back the development of its lead cancer drug, the early-stage TL32711. Clarus Ventures led the round with new investor Hatteras Venture Partners joining Amgen Ventures, HealthCare Ventures, Latterell Venture Partners, Novitas Capital, Quaker BioVentures and the Vertical Group in the venture round.
TL32711 is a SMAC mimetic designed to neutralize the activity of an inhibitor of apoptosis proteins, which block tumor cell death. The drug is in a Phase I study as a single agent in patients with hard-to-treat solid tumors and lymphoma.
"SMAC mimetics are a novel class of cancer therapeutics with the potential to enable treatment of solid and hematological cancers that would otherwise be resistant to therapy," said Michael Steinmetz, the managing director of Clarus Ventures. "We are encouraged by TL32711's preclinical and early clinical data that it may fulfill the broad potential of an effective targeted pro-apoptotic therapy."
- check out the TetraLogic release