LOWER GWYNEDD, Pennsylvania, March 22, 2021 /PRNewswire/ -- Tavotek Biotherapeutics announces it has raised over $20M in Round A1 and Round A2 financing in the preceding two months. YuanBio Venture Capital led the A1 finance round followed by Oriza Holdings, Ming BioVentures, and New Alliance Capital. Series A2 financing was jointly invested by GF Xinde, CTS Capital, and Lanhu Capital. The two rounds of financing will be used to accelerate the CMC production and IND filings of three antibody drugs (Tavo111, Tavo103, and Tavo101) developed by the company based on its TavoPrecise antibody platform. In addition, the funding will also be used to strengthen its bispecific / multispecific antibody pipelines and the development of multicyclic intracellular peptide (MIP) programs.
Tavotek Biotherapeutics, established in early 2019, received its initial Round A investment from Apricot Capital. Tavotek is committed to using innovation to improve the well-being of patients with unmet medical needs. Presently, 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 (J&J, Abbott, GSK, 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 three innovative antibodies into human clinical trials in late 2021 with another three assets to IND in 2022.
Tavotek is a biopharmaceutical company focused on discovering, acquiring, developing, and commercializing therapeutic 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.