Cancer company TP raises $45M in series C

TP Therapeutics Inc. (San Diego, Calif.) raised $45 million in a series C round co-led by Lilly Asia Ventures, OrbiMed and SR One. Also participating were existing investors Cormorant Asset Management and SV Tech Ventures.

The company's lead candidate, TPX-0005, is in the Phase I/II TRIDENT-1 trial to treat advanced solid tumors harboring rearrangements of anaplastic lymphoma kinase (ALK), c-ros proto-oncogene 1 receptor tyrosine kinase (ROS1), neurotrophic tyrosine kinase receptor 1 (TrkA; NTRK1), TrkB (NTRK2) or TrkC (NTRK3). TPX-0005 is a multi-target macrocycle inhibitor of ALK, ROS1, and tyrosine kinase receptor. Founder and CSO J. Jean Cui told BioCentury TP expects data from the study in spring 2018...