Tellus Therapeutics and Peroxitech announce Series A financings
USA-based drug developers Tellus Therapeutics, a neonatal care company developing treatments for new-borns in the neonatal intensive care unit (NICU), and Peroxitech, emerging biopharma developing a novel peptide for treating acute lung injury (ALI), have announced the closing of Series A financings led by the Perceptive Xontogeny Venture Fund.
Both companies are pursuing indications in areas of highly unmet clinical need where no current therapies exist.
In the case of Tellus, the company says this $35 million capital will be used to continue important pre-clinical work conducted through the seed investment with the Xontogeny development team and to advance TT-20, the company’s lead candidate for the treatment of white matter brain injury in preterm infants, as well as the company’s pipeline programs.
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