True North Therapeutics, a South San Francisco, California-based biotechnology company developing novel therapies that selectively inhibit the Complement system to treat rare diseases, completed a $35m Series B equity financing.
The round was led by OrbiMed, with participation from existing investors Kleiner Perkins Caufield & Byers, MPM Capital, SR One, and Baxter Ventures.
Led by Nancy Stagliano, PhD, Chief Executive Officer, True North Therapeutics develops a pipeline of novel therapies that selectively target the Complement pathway of the immune system to address fundamental mechanisms in rare diseases in the hematologic, kidney transplant, and skin therapeutic areas.
The company intends to use the funds to complete clinical studies of its lead program TNT009* in multiple indications for Complement-mediated rare diseases, as well as advance a second drug candidate from its preclinical pipeline into clinical development. True North will initiate the Phase 1a study in Q2 of 2015 and plans to begin its Phase 1b program later this year in patients with a variety of disorders, including antibody mediated rejection in kidney transplant and rare hematologic diseases, such as Cold Agglutinin Disease.
*TNT009 is a molecule designed to selectively target Classical Complement pathway blockade by inhibiting C1s, a serine protease within the C1-complex in the Complement pathway of the immune system. TNT009 is a monoclonal antibody that selectively inhibits the Classical Complement pathway, thereby preventing downstream disease processes involving phagocytosis, inflammation, and cell lysis.