TP Therapeutics, Inc., a San Diego, CA-clinical-stage biopharmaceutical company focusing on addressing oncology drug resistance, raised $45m in Series C funding.
The round was co-led by Lilly Asia Ventures (LAV), OrbiMed Advisors, LLC, and S.R. One, Limited, with participation from existing investors Cormorant Asset Management and SV Tech Ventures. In conjunction with the financing, Carl L. Gordon, Ph.D., CFA, General Partner at OrbiMed, Hongbo Lu, Ph.D., Partner at LAV, and Simeon J. George, M.D., Partner at S.R. One, joined TP Therapeutics’ Board of Directors.
Founded in October 2013 by Dr. J. Jean Cui, and Dr. Y. Peter Li, Chairman, President and CEO, TP Therapeutics is focusing on the design and development of novel chemical identities for established oncogene drivers with high incidence of secondary resistant mutations, newly identified disease-driven targets, and potential targets regulating tumor microenvironment and tumor immunity.
The company intends to use the proceeds for the continued development of its lead program, TPX-0005, for treatment of naïve and resistant patients with ALK, ROS1 or NTRK abnormal genes and for the advancement of several pre-clinical pipeline projects.