Tavotek Biotherapeutics, a Lower Gwynedd, PA-based a biopharmaceutical company, raised over $20M in Round A1 and Round A2 financing in the preceding two months.
YuanBio Venture Capital led the A1 finance round followed by Oriza Holdings, Ming BioVentures, and New Alliance Capital. Series A2 financing was jointly invested by GF Xinde, CTS Capital, and Lanhu Capital.
The two rounds of financing will be used to accelerate the CMC production and IND filings of three antibody drugs (Tavo111, Tavo103, and Tavo101) developed by the company based on its TavoPrecise antibody platform. In addition, the funding will also be used to strengthen its bispecific / multispecific antibody pipelines and the development of multicyclic intracellular peptide (MIP) programs.
Established in early 2019, Tavotek Biotherapeutics is a biopharmaceutical company focused on discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical needs.
Its research platforms are built upon three breakthrough technologies:
- TavoSelect (an innovative Phage Display Library that generates conformational selective human full-length and single domain antibodies);
- TavoPrecise (a differentiated engineering platform for next generation tissue-specific biologics); and
- TavoMIP (a multicyclic peptide platform that makes undruggable targets more accessible). With the new infusion of capital, Tavotek is developing novel biologics targeting oncology and autoimmune diseases for patients.
The company plans to bring three innovative antibodies into human clinical trials in late 2021 with another three assets to IND in 2022.
Presently, Tavotek has two R&D centers: one in Lower Gwynedd, Pennsylvania and another in Suzhou, China.