TPP Global Development (TPP), an Edinburgh, Scotland, UK-based innovative drug development company operating in the preclinical area of the drug discovery process, has raised £9.6m in equity financing.
TPP has raised funds from a select group of investors, including the Scottish Venture Fund.
The capital infusion will be used to execute the company’s strategy to develop early-stage pre-clinical drug candidates. Therapeutic focus areas are nervous system disorders, immunology/inflammation and niche oncology, with early-stage, pre-clinical drug programmes sourced mainly from research institutes and universities.
The company will develop these programmes in the lab of the inventor where possible, or at a local contract research organization (CRO).
Once programmes reach the later stages of pre-clinical development, TPP will look to license them to Pharma or, where it makes commercial sense, establish them as separate spin-out companies.
The comapny has assembled an experienced board with strong industry expertise.
– CEO Tom Brown and CFO Peter Trill, have almost 25 years combined experience of advising on and investing in healthcare and biotech companies;
– Professor Michael Walker, CEO of Verona and a founder of Rhythm Search Developments (RSD) which evolved into Nortran Pharmaceuticals and subsequently NASDAQ-listed Cardiome,
– Dr Sharon O’Kane, a founder of LSE-listed Renovo.