Teon Therapeutics, a San Francisco, CA-based biopharmaceutical company developing small molecules that inhibit the immunosuppressive and cancer-promoting signaling pathways, completed a $30M Series A financing.
The round was led by Oceanpine Capital with participation from additional new investors Oriza Ventures, Lifespan Investments, and former Gilead senior executives and existing investors Northern Light Venture Capital, Kaitai Capital and Oriental Fortune Capital.
The funds will be used to advance the company’s lead A2BR-selective antagonist TT-702 into the clinic as well as to build its pipeline.
Led by Lina Yao, MD, Ph.D., Founder and Chief Executive Officer, Teon Therapeutics is a clinical-stage biopharmaceutical company dedicated to improving the lives of cancer patients by developing a focused portfolio of small molecules that inhibit the immunosuppressive and cancer-promoting signaling pathways in the tumor microenvironment. Teon’s lead program is an A2BR-specific antagonist that will enter Phase1b trials in 2021. The company’s leadership team include experts in adenosine and GPCR therapeutics and were primary inventors of Lexiscan®, the only FDA-approved selective adenosine therapeutic, which contributed to the acquisition of CV Therapeutics by Gilead.