BioCentury
ARTICLE | Financial News

Tetherex raises $50M series B, plans Phase II for pan-selectin inhibitor

April 18, 2018 9:14 PM UTC

Tetherex Pharmaceuticals Inc. (Oklahoma City, Okla.) said it closed a $50 million series B round Wednesday led by existing investor MPM Capital. I2E, Tetherex board member Philip Jones and other undisclosed Oklahoma-based investors also participated. The round will provide three to four years of runway, according to Tetherex Chairman and CEO Scott Rollins.

Tetherex will use the funds to conduct a Phase II trial of lead program SelK2 to treat venous thromboembolism (VTE) in patients undergoing total knee replacement surgery, as well as a second Phase II in patients with Crohn's disease or other inflammatory diseases. The VTE trial is slated to begin in the fourth quarter...