iPierian secures funding for launch of spin-out, True North Therapeutics
US biotech firm iPierian says that a new financing of $30 million has been secured to continue to advance iPierian’s drug development in neurodegenerative disease as well as to provide a Series A round to launch a spin-out company, True North Therapeutics.
The financing was co-led by SR One, Kleiner Perkins Caufield & Byers and MPM Capital with participation from all existing iPierian investors. iPierian’s two monoclonal antibody R&D programs, targeting the Tau protein and the complement pathway, each have produced a lead antibody drug candidate and represent distinct therapeutic opportunities to form the basis of separate companies.
Spin-out to focus on rare diseases
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