As a Co-Founder and former Chairman of the Board I’m excited to announce that we’ve closed a $74 million Series B round of financing at Tvardi Therapeutics. Proceeds from this financing will be used to advance Tvardi’s product candidates through multiple clinical data readouts in mid-stage trials for cancer and fibrosis.
Tvardi Therapeutics, Inc. (“Tvardi”), a privately held, clinical-stage biopharmaceutical company focused on the development of STAT3 inhibitors, has closed a $74 million Series B financing. The financing was led by new investors Slate Path Capital, Palkon Capital, ArrowMark Partners, and 683 Capital, with continued support and participation by existing investors, including Sporos Bioventures. In conjunction with the financing, Jamie McNab, Partner at Slate Path Capital, will join the Tvardi Board of Directors.
Proceeds from this financing will be used to advance Tvardi’s product candidates through multiple clinical data readouts in mid-stage trials for cancer and fibrosis. The company’s lead product, TTI-101, 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.
“We are thrilled to move out of stealth mode and partner with this lineup of long-term institutional investors,” said Imran Alibhai, Ph.D., chief executive officer at Tvardi. “With this financing we are positioned to advance the clinical development of our small molecule inhibitors of STAT3 into mid-stage trials as well as grow our team.”
Jamie McNab added, “I am excited to join the Board of Directors. Tvardi is the leader in the field of STAT3 biology and has compelling proof of concept clinical data. I look forward to partnering with the management team to advance Tvardi’s mission to develop a new class of breakthrough medicines for cancer, chronic inflammation, and fibrosis.”
Keith Flaherty, M.D., a member of Tvardi’s Scientific Advisory Board, Professor of Medicine at Harvard Medical School, and founder of Loxo Oncology and Scorpion Therapeutics said, “STAT3 is a compelling and validated target. Beyond its clinical activity, Tvardi’s lead molecule, TTI-101, has demonstrated direct downregulation of STAT3 in patients. As a physician, I am eager to see the potential of Tvardi’s molecules in diseases of high unmet medical need where STAT3 is a key driver.”
This news was reported in the following publications:
Venture Capital Journal
Fierce Biotech
Biz Journals
BioWorld
Endpoints
Finsmes