Tarveda Therapeutics Raises USD 30m in Venture Financing; Will Use to Advance Pentarin Miniaturized Drug Conjugates.
M2 PHARMA-February 3, 2017-Tarveda Therapeutics Raises USD 30m in Venture Financing; Will Use to Advance Pentarin Miniaturized Drug Conjugates
(C)2017 M2 COMMUNICATIONS
- US-based biopharmaceutical company Tarveda Therapeutics, Inc has closed a USD 30m Series D equity financing, the company said.
The round was led by new investor Versant Ventures. Existing investors New Enterprise Associates, Novo A/S, NanoDimension and Flagship Pioneering also participated.
Tarveda plans to use these financial resources, in addition to the USD 38m raised in its Series C financing in January 2016, to advance its novel Pentarin platform.
Planned development activities include completing Phase I dose-escalation and safety studies of PEN-221, a miniaturized conjugate targeting somatostatin receptor 2 (SSTR2), which is expressed in neuroendocrine and small cell lung cancers, and initiating and advancing its Phase 2A studies.
Further, the company is funded to conduct Phase I dose-escalation and safety studies of PEN-866, a miniaturized HSP90-targeting drug conjugate for use in advanced, topoisomerase 1-sensitive cancer patients, as well as to develop additional candidates from the Pentarin platform.
Tarveda is developing Pentarins, potent and selective miniaturised drug conjugates with high affinity for specific cell surface and intracellular targets.
Pentarins are engineered to bind to their tumor cell targets and provide sustained release of their potent therapeutic payloads deep into solid tumor tissue.
Comprised of a targeting ligand conjugated to a potent cell-killing agent through an optimised chemical linker, Pentarins are designed to overcome the deficits of both larger antibody drug conjugates and small molecules that limit their therapeutic effectiveness against solid tumors.
Together, the components of Tarveda's Pentarins have distinct, yet synergistic, anticancer attributes: the small size of Pentarins allows for effective penetration and distribution into the tumor tissue, the ligand's targeting ability allows for specific binding and retention in tumor cells, and the chemical linker is tuned to optimise the release of the potent, cell-killing payload inside the cancer cells for efficacy.
Tarveda Therapeutics discovers and develops Pentarins, a new class of potent and selective miniaturized drug conjugates with enhanced targeting capabilities for the treatment of solid cancer tumors.
The company's lead Pentarin drug candidate, PEN-221, is a miniaturized drug conjugate that targets the somatostatin receptor 2 (SSTR2) for treatment of patients with neuroendocrine and small cell lung cancers.
PEN-221 comprises a highly selective peptide that targets SSTR2 linked to the potent cytotoxic DM1 through a cleavable linker.
Tarveda is also advancing its HSP90 drug conjugate platform with lead drug candidate PEN-866, which is a miniaturised HSP90 targeting drug conjugate that comprises a small molecule HSP90 targeting ligand conjugated to SN-38, the highly-potent, active metabolite of irinotecan.
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|Date:||Feb 3, 2017|
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