On July 8, 2023 Tyligand Bioscience reported the completion of a multimillion-dollar Series A+ financing (Press release, Tyligand Bioscience, JUL 8, 2023, View Source [SID1234644985]). This round was led by Ming Ventures, with participation from Taikun Fund, Suzhou Harvicapital, Shengdi Investment, and Calor Capital as co-investors. Existing shareholders CMS Capital and BOHE Angel Fund also increased their stake. The capital raised will primarily be used to accelerate the advancement of multiple projects in Tyligand’s innovation pipeline, including clinical trials in both US and China.
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Tyligand Bioscience is dedicated to discovering and developing highly differentiated small molecule therapies to provide more effective treatment options for drug resistant tumors include lung, pancreatic, and triple-negative breast cancers. The founding team has a strong track record in the field of small molecule drug discovery and development, and has a wealth of management and operational experience in multinational pharmaceutical companies as well as emerging biotechs. The company focuses on addressing unmet clinical needs with structurally intriguing small molecules and their conjugates, with several candidates having entered into clinical stage development. TSN084, a multi-kinase inhibitor targeting CDK8/19 and other kinases closely associated with tumor proliferation and immune suppression, is currently undergoing Phase I clinical trials in both US and China and has recently received FDA orphan drug designation for treating AML. With the prevailing trend in the kinase field moving towards highly selective inhibitors against a single target, the excellent tolerability and ability of TSN084 to launch a multi-targeted attack provide possibilities to address drug resistance and immune evasion. TSN222 is a global 1st dual-acting tumor immune agonist (DATIA) with differentiated design from traditional immune agonists. Preclinical data indicated that TNS222 was capable of sequentially activating the innate immune system and selectively killing tumors, thereby leading the establishment of durable adaptive immune memory and controlling the proliferation of distal tumors. This compound has also received approval for clinical trials in both US and China. Additionally, Tyligand has demonstrated the effectiveness of DATIA series of molecules as payloads for antibody-drug conjugates, and has attracted multiple collaborators.
Dr. Tony Zhang, founder and CEO of Tyligand, stated, "We are extremely grateful for the support from Ming Ventures and co-investors. This round of support not only serves as an encouragement to the Tyligand team but also as a recognition of the differentiated pipeline built from the Tyligand’s on unique molecule design platform. We will continue to push forward the pipeline with utmost efficiency and creativity, making medicines with greater clinical value for the waiting doctors and patients."
Ming Venture stated, "We are honored to lead this round of financing for Tyligand Bioscience. Innovative drugs are a key investment focus for Ming Venture, and we continue to have a positive outlook on the oncology area. This field has significant umet clinical needs and growing market potential, and every progress can genuinely help alleviate patients’ suffering. Core members of Tyligand’s team have years of extensive R&D management experience and are a trustworthy team. The company has a clear strategic vison, strong execution, and great capital utilization efficiency, having completed the preclinical development of three products in record time. The unique approach of dual-function immune agonism by small molecules offers key advantages in immunoncology field, and we look forward to benefiting global cancer patients with these innovative products as soon as possible."