News: Portfolio 2011

TetraLogic Closes $6 Million Series C-1 Investment with Nextech Invest Ltd.

-$43 Million Raised in Past Year to Complete Phase 2a Cancer Clinical Studies -

MALVERN, Pa., May 24, 2011 – TetraLogic Pharmaceuticals, a biopharmaceutical company developing novel small molecule drugs to treat cancer, today announced that is has closed a $6 million investment with new investor Nextech Invest Ltd., a Zurich, Switzerland, based oncology focused venture capital fund. Combined with the $37 million Series C closed during 2010, TetraLogic has raised $43 million in the past year. The company is investing the funds to complete Phase 2a clinical studies with its lead Smac mimetic drug candidate, TL32711.

 

"With its European base and oncology expertise, Nextech nicely complements and strengthens our group of investors," said John Gill, TetraLogic's president and CEO. "The new funds, combined with last year's $37 million in Series C financing, provide the necessary capital to complete several Phase 2a solid tumor and hematological clinical