Tavotek Biotherapeutics Announces Completion of Round B Financing with $35 Million
LOWER GWYNEDD, Penn., Nov. 18, 2021 /PRNewswire/ -- Tavotek Biotherapeutics, a fast-growing biotech company, announces it has raised $35M in Round B financing. CS Capital, a leading private equity fund manager in China, led this finance round followed by Fontus Capital. This round of financing will be used to accelerate the Phase 1 clinical development of several antibody drugs to start in early 2022. The upcoming antibody drugs were developed by the company based on its TavoPrecise antibody platform for various immune-related disorders. In addition, the funding will also be used to accelerate the CMC and IND development of multiple other oncology pipelines and the development of the company’s multicyclic intracellular peptide (MIP) programs.
Tavotek Biotherapeutics, established in early 2019, is committed to using innovation to improve the well-being of patients with unmet medical needs. The company has two R&D centers: one in Lower Gwynedd, Pennsylvania and another in Suzhou, China. The core team members have decades of successful drug development experiences at multinational pharmaceutical firms (Johnson & Johnson, Abbott/Abbvie, GlaxoSmithKline and Eli Lilly) which include many blockbuster drugs with annual sales of more than $1 billion.
Tavotek’s 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 multiple innovative antibodies into human clinical trials in 2022.
Tavotek is a biopharmaceutical company focused on discovering, acquiring, developing, and commercializing medicines for patients suffering from debilitating diseases with significant unmet medical needs. Tavotek has a rich pipeline of product candidates at various stages of development for cancer, autoimmune conditions, and inflammatory diseases. For more information, please visit www.tavotek.com.
Vicky Wu, External Affairs
Isa Fung, Investors and Media
SOURCE Tavotek Biotherapeutics