Pfizer add $5m to TetraLogic’s cancer treating drug fund

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TetraLogic Pharmaceuticals receives $5m (€3.7m) investment from Pfizer Ventures, helping fund clinical development of a drug that mimics naturally forming proteins, promoting cell death.

The biopharmaceutical company which specialises in developing small molecule cancer treating drugs, say Pfizer Ventures has joined a syndicate of Series C investors, and their $5m investment has topped up financing of Series 3 to $37m.

The cash will be put towards clinical development of TetraLogic’s lead drug candidate for cancer, the SMAC mimetic, TL32711, which is currently being tested in a Phase I study.

“This investment is part of Pfizer Ventures’ overall strategy to finance emerging companies discovering and developing promising treatments for unmet medical needs,”​ said Elaine Jones, executive director of Pfizer Ventures. “We’re pleased to support [TetraLogic’s] efforts to advance SMAC mimetics as potential new treatments for cancer,”​ she added.

John Gill, TetraLogic's President and CEO, commented, "The addition of Pfizer Ventures as a new investor further complements our financing syndicate, and we now have the ideal combination of institutional and corporate investors to support and advance our SMAC mimetics development program."

Related topics: Regulatory & Safety

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