True North Therapeutics, a South San Francisco, CA-based clinical stage biotechnology company developing novel products that selectively inhibit the Complement system to treat certain rare diseases, completed a $45m Series D equity financing.
The round was led by new investors HBM Healthcare Investments and Redmile Group and existing investor Perceptive Advisors, with participation from an additional new investor Franklin Templeton Investments, as well as existing investors.
The company intends to use the proceeds to accelerate further development of its lead complement inhibitor, TNT009, for Cold Agglutinin Disease (CAD), as well as other rare diseases targeting the Complement system.
Led by Nancy Stagliano, PhD, Chief Executive Officer, True North True focuses on the discovery, development, and commercialization of product candidates for Complement-mediated diseases. The company’s lead product candidate, TNT009, is designed to selectively inhibit a target in the Classical Complement pathway.
CAD is a rare autoimmune disease involving destruction of red blood cells causing anemia, fatigue and potentially fatal thromboses for which there are currently no approved pharmaceutical products in the U.S. or Europe.
Last week, the company announced that the U.S. Food and Drug Administration granted TNT009 Orphan Drug designation for autoimmune hemolytic anemia, including CAD, adding to the European Medicines Agency designation received in February 2016.