Tvardi Therapeutics, Inc., a Houston, Texas-based clinical-stage biopharmaceutical company focused on the development of STAT3 inhibitors, closed a $74m Series B financing.
The round was led by new investors Slate Path Capital, Palkon Capital, ArrowMark Partners, and 683 Capital, with participation from existing investors, including Sporos Bioventures. In conjunction with the financing, Jamie McNab, Partner at Slate Path Capital, will join the Tvardi Board of Directors.
The company intends to use the funds to advance its product candidates through multiple clinical data readouts in mid-stage trials for cancer and fibrosis.
Led by Imran Alibhai, Ph.D., chief executive officer, Tvardi Therapeutics is advancing TTI-101, which is currently being studied in a Phase 1 trial of patients with advanced solid tumors who have failed all lines of therapy. To date, TTI-101 has been well-tolerated and demonstrated multiple durable radiographic objective responses in cancer patients treated with TTI-101 monotherapy.
STAT3 is a key regulatory protein positioned at the intersection of many signaling pathways integral to the survival and immune evasion of cancer cells. STAT3 also plays a central role in the pathogenesis of many inflammatory and fibrotic diseases.