Tau Therapeutics, LLC Closes $3 Million Financing to Support Cancer Trial
12/18/2012 9:01:16 AM
CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Tau Therapeutics LLC, an oncology company repositioning and developing T-type calcium channel inhibitors for the treatment of solid tumors, announced today that it has closed a $3 million round of private equity financing. The proceeds will support Tau’s Phase 1b clinical trial currently being conducted with the National Cancer Institute’s Adult Brain Tumor Consortium. Additionally, the proceeds will support development of new therapies and diagnostics in multiple indications. Tau has raised over $10 million from private investors throughout the United States and received over $12 million in non-dilutive resources in the last six years. “Our investors share our enthusiasm for Tau’s promising new Interlaced Therapy™ method to treat solid tumor cancers. This is a very exciting time for us as we begin to test how well our therapy works in cancer patients,” said President and CEO Andrew Krouse. The Phase 1b trial is a dose escalation trial of Interlaced Therapy™ -- using Tau’s first product candidate mibefradil sequentially administered with a cytotoxic drug -- in patients with recurrent high-grade glioma. This novel tumor pre-treatment is intended to amplify the effectiveness of current cancer therapies.