True North Therapeutics, a South San Francisco, CA-based biotechnology company developing novel therapies that selectively inhibit the Complement system to treat rare diseases, completed a $22m Series A equity financing.
Backers included Kleiner Perkins Caufield & Byers, MPM Capital, SR One, Biogen Idec New Ventures, and Baxter Ventures. The round encompasses initial funds from the spin-out of True North Therapeutics from iPierian, Inc.
The company intends to use the funds to advance its lead drug candidate, TNT009, into clinical development, with the initiation of the first human clinical trial planned for early 2015.
Led by Nancy Stagliano, PhD, Chief Executive Officer, True North developer of novel therapies that selectively target the Complement pathway of the immune system to address fundamental mechanisms in rare diseases. Its lead monoclonal antibody drug candidate, TNT009, offers a novel approach for treating Complement-mediated diseases by selectively inhibiting a target in the Classical Complement pathway.
The company focuses on complement-mediated rare diseases in the hematologic, renal and neurological therapeutic areas.