Tavotek Biotherapeutic receives $35M in financing from Chinese private equity fund manager

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Lower Gwynedd-based Tavotek Biotherapeutics, a biopharmaceutical company producing medications for patients suffering from debilitating diseases, recently raised $35 million in Round B financing from CS Capital, a Chinese private equity fund manager.

The company will use the financing to accelerate the Phase 1 clinical development of several antibody drugs it developed based on its TavoPrecise antibody platform for various immune-related disorders. The platform is for tissue-specific biologics.

The company also plans to use funding to accelerate the development of multiple other oncology pipelines and multicyclic intracellular peptide programs.

Human clinical trials are expected to begin early next year.

In addition to TavoPrecise, the company has two other research platforms. TavoSelect generates conformational selective human full-length and single domain antibodies, and TavoMIP that makes undruggable targets more accessible.

Established in early 2019, Tavotek Biotherapeutics focuses on the discovery, acquisition, development, and commercialization of medicines for patients suffering from debilitating diseases such as autoimmune conditions, cancer and inflammatory diseases.

The company has a research and development center in Lower Gwynedd and one in Suzhou, China. Annual sales total more than $1 billion.

Tavotek Biotherapeutics’ have drug development experience working for multinational pharmaceutical firms such as Abbott/Abbvie, Eli Lilly GlaxoSmithKline and Johnson & Johnson.