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TetraLogic Closes $6 Million Series C-1 Investment with Nextech Invest Ltd.
Date:5/24/2011

MALVERN, Pa., May 24, 2011 /PRNewswire/ -- TetraLogic Pharmaceuticals, a biopharmaceutical company developing novel small molecule drugs to treat cancer, today announced that is has closed a $6 million investment with new investor Nextech Invest Ltd., a Zurich, Switzerland, based oncology focused venture capital fund.  Combined with the $37 million Series C closed during 2010, TetraLogic has raised $43 million in the past year. The company is investing the funds to complete Phase 2a clinical studies with its lead Smac mimetic drug candidate, TL32711.

"With its European base and oncology expertise, Nextech nicely complements and strengthens our group of investors," said John Gill, TetraLogic's president and CEO.  "The new funds, combined with last year's $37 million in Series C financing, provide the necessary capital to complete several Phase 2a studies in solid tumors and initiate clinical studies in hematological cancers in the upcoming months."

"TetraLogic is a great fit for our oncology portfolio," said Matyas Vegh, Nextech Managing Partner.  "We believe in the potential of Smac mimetics to improve cancer therapy, and we look forward to working with TetraLogic's management and investors to build TL32711 into a leading cancer therapeutic."

About TL32711

TL32711 is a small molecule peptidomimetic of Smac (an endogenous regulator of apoptotic cell death) that selectively antagonizes multiple IAPs. TL32711 has demonstrated preclinical anti-tumor activity that supports its clinical development for solid tumor and hematological malignancies as a monotherapy and in combination with other anti-cancer therapies.  TL32711 is nearing completion of a single agent Phase 1 study in solid tumors and lymphomas and a Phase 1b five-arm combination clinical study in solid tumors.  In the clinical studies to date, TL32711 has been well tolerated and exhibited target suppression and anti-tumor activity. Data fro
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SOURCE TetraLogic Pharmaceuticals
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