TetraLogic Pharmaceuticals, a Malvern, PA-based biopharmaceutical company developing novel small molecule drugs to treat cancer, has received an additional $5m investment from Pfizer Ventures.
Pfizer has joined the syndicate of Series C investors increasing the amount of the Series C financing to $37m. The initial Series C financing closing of $32m was announced by TetraLogic Pharmaceuticals on August 10, 2010. It was led by Clarus Ventures, with participation from new investor Hatteras Venture Partners and existing investors Amgen Ventures, HealthCare Ventures, Latterell Venture Partners, Novitas Capital, Quaker BioVentures and the Vertical Group.
These new funds will be used to advance clinical development of TL32711, TetraLogic’s lead drug candidate for the treatment of cancer.
TL32711 is a SMAC mimetic that neutralizes the activity of inhibitor of apoptosis proteins (IAPs) that block tumor cell death. TL32711 is being evaluated in a Phase 1 study as a single agent in patients with solid tumors and lymphoma refractory to standard therapies.
FinSMEs
27/09/2010