TetraLogic Pharmaceuticals, a Malvern, PA-based biopharmaceutical company developing novel small molecule drugs to treat cancer, has completed a $32m Series C financing.
The round was led by new investor Clarus Ventures, with participation from other new investor Hatteras Venture Partners and existing vc partners Amgen Ventures, HealthCare Ventures, Latterell Venture Partners, Novitas Capital, Quaker BioVentures and the Vertical Group.
In conjunction with the financing, Michael Steinmetz, Ph.D., a Managing Director of Clarus Ventures, and Douglas Reed, M.D., a General Partner of Hatteras Venture Partners, have joined the company’s Board of Directors.
The new capital 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.