Dive Brief:
- TenNor Therapeutics Co., Ltd., a Chinese clinical-stage company, on Monday revealed a new $25 million Series B investment to further late-stage development of new antibiotics.
- A group of five investment firms joined in on the financing round, led by Northern Light Venture Capital and including current investors Frontline BioVentures, WuXi PharmaTech Healthcare Fund 1, Oriza Venture Capital and Relativity Healthcare Fund.
- TenNor’s most advanced product, an oral locally acting gastrointestinal drug, is aimed to improve the treatment of digestive diseases associated with Helicobacter pylori and other gastrointestinal bacterial infections.
Dive Insight:
The influx of investment into the Suzhou, China-based company should fast-forward its product development, especially for the lead candidate TNP-2092, which the company says is headed toward Phase 3 clinical trials.
In addition, TenNor expects the new money will help move a second product into the clinical proof-of-concept stage and a third product into Phase 1 of clinical development.
Besides gastroinfections, the company is also developing drugs for the treatment of prosthetic joint infections and multi-drug resistant Gram-negative infections.
"With the infusion of the new capital, TenNor is well-positioned to deliver the best treatment for H. pylori and other GI tract infections to patients in the coming years," said Zhenkun Ma, the CEO and company founder.
TenNor was first set up in 2013, and has acquired some of its intellectual property from Cumbre IP Venture and the TB Alliance.
