TVARDI THERAPEUTICS, INC. SECURES $9 MILLION IN SERIES A FINANCING ROUND
Company developing a new class of breakthrough medicines for diverse cancers, chronic inflammatory diseases and fibrotic diseases.
Houston, Texas. September 20, 2018 – Tvardi Therapeutics Inc. (“Tvardi”), a clinical-stage private biopharmaceutical company focused on the development of STAT3 inhibitors, announced today the completion of a $9 million Series A financing round.
Series A funding is expected to enable the completion of ongoing Phase 1 studies for Tvardi’s lead compound TTI-101 in solid tumor cancers and the completion of IND-enabling studies of a second product for use in non-cancer indications.
“We are pleased with strong support and enthusiasm from the investment community, as we focus on advancing our products through clinical development,” said Ronald DePinho M.D., Tvardi’s Co-Founder & Director and Professor & Past President of MD Anderson Cancer Center. DePinho added, “the societal and economic impact of STAT3-driven diseases is significant and the successful development of a safe and effective STAT3 inhibitor such as TTI-101 could transform the lives of millions of patients affected with these diseases.”
David Tweardy M.D., Tvardi’s Co-Founder & President and Head of Internal Medicine at MD Anderson, is a leading physician-scientist recognized for his research in STAT3 and its role in cancer, fibrosis and inflammation. Leveraging $15 million in non-diluted grant funding, he developed small-molecule STAT3 inhibitors from concept to Phase I testing. These inhibitors block STAT3 binding to its phosphotyrosyl peptide ligand blocking two steps in STAT3 activation and show robust anti-tumor activity in preclinical cancer models. TTI-101, an output of this initial work, is an oral drug that is now progressing well through a Phase 1 clinical trial in solid tumor cancers.
“Our success to date stems from a strong team effort of dedicated, innovative scientists who were enabled by significant support from numerous granting agencies including the NIH and CPRIT. This financing will enable Tvardi to address major unmet medical needs in cancer and other diseases implicated in the STAT3 pathway,” stated Dr. Tweardy.
Jim Allison, Ph.D., a member of Tvardi’s Scientific Advisory Board and Chair of the Department of Immunology at MD Anderson, added: “David is realizing the dream of every scientist to have their research translate into improved care. Given the importance of STAT3 in immune suppression for cancer, TTI-101 has the potential to reactivate the immune system which would benefit many patients in the years ahead.”
About Tvardi Therapeutics, Inc Tvardi is a privately held biopharmaceutical company headquartered in Houston, Texas. The company was founded in 2017 and is focused on the development of inhibitors to STAT3, a key signaling molecule positioned at the intersection of many signaling pathways controlling gene networks integral to the survival and immune sequestration of cancer cells as well as to the pathogenesis of many inflammatory and fibrotic conditions. To learn more, visit: www.tvardi.com