Tentarix Biotherapeutics Completes Series B Financing Bringing Total Equity and Upfront Deal Consideration to $132 Million
SAN DIEGO--(BUSINESS WIRE)-- Tentarix Biotherapeutics, Inc, a biotechnology company focused on leveraging its proprietary Tentacles™ platform to discover and develop multi-functional, conditional protein therapeutics, today announced it has raised $35 million in a Series B financing led by Amplitude Ventures with participation from Gilead Sciences, Inc., and founding investors Versant Ventures and Samsara BioCapital.
“With the support of this group of industry-leading investors, we are well-capitalized to continue advancing our promising Tentacles™ platform,” said President and CEO Paul Grayson. “This financing, combined with our recently announced collaboration with Gilead, extends our cash runway and enables us to expand our pipeline of cell-specific, conditionally active multifunctional biologics that have the potential to tackle previously undruggable targets.”
“Amplitude believes that multifunctional biologics enable more powerful therapeutic approaches, and we are convinced that Tentarix’s unique technology platform leads the industry," said Amplitude’s Allyson Tighe, who joined Tentarix’s board in connection with the Series B financing. "We’re excited to be working with this exceptional management team and investor syndicate to further advance this work and to enable meaningful therapies for patients.”
Since inception, Tentarix has now brought in $132 million in capital from equity and upfront partnership payments.
Tentarix’s mission is to develop first-in-class targeted, multifunctional, conditional therapies. The Company is focused on modalities that have cell-specific function and has built a team that aims to transform biologics. For more information, please visit www.tentarix.com.
Amplitude is a full-stack venture capital firm employing a unique growth model to build companies with novel science, world-class management teams, and big visions and to scale those companies to breakout potential. With over $ 500M under management and offices in Montreal, Toronto and Vancouver, Amplitude applies a proven, evidence-based approach to investing in leading precision medicine companies. Please visit amplitudevc.com.
About Versant Ventures
Versant Ventures is a leading healthcare venture capital firm committed to helping exceptional entrepreneurs build the next generation of great companies. The firm’s emphasis is on biotechnology companies that are discovering and developing novel therapeutics. With $5.4 billion under management and offices in the U.S., Canada and Europe, Versant has built a team with deep investment, operating and R&D expertise that enables a hands-on approach to company building. Since the firm’s founding in 1999, more than 95 Versant companies have achieved successful acquisitions or IPOs. For more information, please visit www.versantventures.com.
About Samsara BioCapital
Samsara BioCapital is a new breed of biotech investment fund focused on translating cutting-edge biology into new therapies to treat patients with unmet medical needs. Founded in 2016 by Srinivas Akkaraju, M.D., Ph.D., our team of scientists, investors and entrepreneurs takes a long-term view to value creation across all stages of public and private life science companies. We believe in a collaborative, hands-on approach, working closely with entrepreneurs to harness exciting scientific advances and build leading companies. Samsara actively manages assets on behalf of endowments, foundations and family offices. For more information, please visit www.samsaracap.com.
Source: Tentarix Biotherapeutics