True North Therapeutics Seals $22M Series A Financing
June 18, 2014
True North Therapeutics, a biotechnology firm developing therapies that treat rare diseases, has completed a $22 million Series A financing round. Investors in the round include Kleiner Perkins Caufield & Byers, MPM Capital, SR One, Biogen Idec New Ventures and Baxter Ventures. Proceeds from the financing will be used to advance True North’s lead drug candidate TNT009 into clinical development, with the initiation of the first human clinical trial planned for early 2015. TNT009 selectively inhibits the classical complement pathway of the immune system, thereby preventing downstream disease processes involving phagocytosis, inflammation and cell lysis.