TP Ther­a­peu­tics grabs $80M mez­za­nine round to fund a piv­otal tri­al for ROS-1/NTRK-pos­i­tive can­cers

San Diego-based TP Ther­a­peu­tics is en­joy­ing the ris­ing flow of cash be­ing di­rect­ed to start­up biotechs — par­tic­u­lar­ly when they are de­vot­ed to on­col­o­gy. 

Sev­en­teen months af­ter rais­ing $45 mil­lion for their C round, TP has come back to the well for an $80 mil­lion mez­za­nine round to fi­nance their work on in­hibit­ing onco­genic dri­ver mu­ta­tions of can­cer. They plan to put the new cash to work fund­ing a mid-stage tri­al of re­potrec­tinib (TPX-0005) for ROS1-pos­i­tive non-small cell lung can­cer (NSCLC) and NTRK-pos­i­tive sol­id tu­mors. And they say this study could be reg­is­tra­tional.

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