True North closes $22 million A round
True North Therapeutics Inc. (South San Francisco, Calif.) raised an undisclosed amount in a tranched $22 million series A round. Kleiner Perkins Caulfield & Byers; MPM Capital; SR One; Biogen Idec New Ventures; and Baxter Ventures participated. Early next year, True North plans to start Phase I testing of TNT009, a mAb inhibitor of complement component 1 s subcomponent (C1S), for a variety of complement-mediated rare diseases (see BioCentury, April 21).
An undisclosed portion of True North's series A round comes from iPierian Inc., which spun out True North last year to develop TNT009. iPierian secured $30 million in September and said a portion of the round would go to True North. All of the investors in True North's series A round also participated in iPierian's venture round. Bristol-Myers Squibb Co. (NYSE:BMY) acquired iPierian in April. ...