On November 18, 2021 Tavotek Biotherapeutics, a fast-growing biotech company, reported it has raised $35M in Round B financing (Press release, Tavotek, NOV 18, 2021, View Source [SID1234595818]). CS Capital, a leading private equity fund manager in China, led this finance round followed by Fontus Capital. This round of financing will be used to accelerate the Phase 1 clinical development of several antibody drugs to start in early 2022. The upcoming antibody drugs were developed by the company based on its TavoPrecise antibody platform for various immune-related disorders. In addition, the funding will also be used to accelerate the CMC and IND development of multiple other oncology pipelines and the development of the company’s multicyclic intracellular peptide (MIP) programs.
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Tavotek Biotherapeutics, established in early 2019, is committed to using innovation to improve the well-being of patients with unmet medical needs. The company has two R&D centers: one in Lower Gwynedd, Pennsylvania and another in Suzhou, China. The core team members have decades of successful drug development experiences at multinational pharmaceutical firms (Johnson & Johnson, Abbott/Abbvie, GlaxoSmithKline and Eli Lilly) which include many blockbuster drugs with annual sales of more than $1 billion.
Tavotek’s research platforms are built upon three breakthrough technologies: TavoSelect (an innovative Phage Display Library that generates conformational selective human full-length and single domain antibodies); TavoPrecise (a differentiated engineering platform for next generation tissue-specific biologics); and TavoMIP (a multicyclic peptide platform that makes undruggable targets more accessible). With the new infusion of capital, Tavotek is developing novel biologics targeting oncology and autoimmune diseases for patients. The company plans to bring multiple innovative antibodies into human clinical trials in 2022.