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ARTICLE | Financial News

iPierian secures $30M, spins out newco for TNT009

September 5, 2013 12:05 AM UTC

iPierian Inc. (South San Francisco, Calif.) secured $30 million in a venture round co-led by existing investors SR One; Kleiner Perkins Caufield & Byers; and MPM Capital. All of iPierian's other existing investors also participated, including Biogen Idec New Ventures; Highland Capital Partners; Google Ventures; FinTech Global Capital; Mitsubishi UFJ Capital; and ATEL Ventures.

iPierian also spun out a newco to develop iPierian's TNT009, a mAb inhibitor of an undisclosed target in the complement pathway. An undisclosed portion of iPierian's $30 million venture round will serve as an A round for the newco, True North Therapeutics Inc. (South San Francisco, Calif.). TNT009 is in preclinical development to treat complement-mediated rare diseases in hematologic, renal and neurologic areas. iPierian CEO Nancy Stagliano will also be CEO of True North. ...