OrbiMed leads $35M round for True North
True North Therapeutics Inc. (South San Francisco, Calif.) raised $35 million in an untranched series B round led by new investor OrbiMed. Existing investors Kleiner Perkins Caufield & Byers; MPM Capital; SR One; and Baxter Venture also participated.
This quarter, True North plans to start a Phase Ia trial of lead program TNT009 in healthy volunteers. Phase Ib testing of the humanized mAb against complement component 1 s subcomponent (C1S) is expected to start this year in patients with a variety of disorders, including antibody-mediated rejection in kidney transplant and cold agglutinin disease. The latter is a type of rare autoimmune hemolytic anemia in which autoantibodies bind to red blood cells at temperatures below 37 degrees Celsius, resulting in activation of the classical pathway and complement-mediated destruction of the cells. ...