Northern Light leads Series B for China’s TenNor Therapeutics
Northern Light Venture Capital (NLVC) has led a $25 million Series B funding round for TenNor Therapeutics, a Chinese drug developer specializing in infectious diseases.
Existing investors Frontline BioVentures, WuXi PharmaTech Healthcare Fund, Oriza Venture Capital and Relativity Healthcare Fund also took part in the round, according to a release.
TenNor was founded in 2013 in BioBay, a life science park based in Suzhou. The clinical-stage company focuses on research and development of new drugs for treatment of digestive diseases caused by infectious agents, including those resistant to available antibiotics.
Its most advanced product, the TNP-2092 oral capsule, has the potential to improve the treatment of digestive diseases associated with bacteria that infects the stomach and cause erosion from stomach acids. The compound is currently in the early-stage of clinical development.
The net proceeds from the latest round will be used to advance TNP-2092 into late-stage development, as well as for clinical trials of other products.
Since its inception in 2005, NLVC has backed more than 180 companies in technology, media and telecom (TMT), healthcare and advanced technology sectors.
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