US-listed pharmaceutical company Pfizer through its corporate venturing unit has invested $5m in TetraLogic Pharmaceuticals, a local developer of anti-cancer drugs.
Pfizer Ventures’ investment extended TetraLogic’s series C round, which originally closed last month at $32m.
Amgen Ventures, the $100m corporate venturing division of biotech company Amgen, and venture capital firms Clarus Ventures, which led the C round, Hatteras Venture Partners, HealthCare Ventures, Latterell Venture Partners, Novitas Capital, Quaker BioVentures and Vertical Group were the members of August’s investment consortium.
Elaine Jones, executive director of Pfizer Ventures, said: "This investment is part of Pfizer Ventures’ overall strategy to finance emerging companies discovering and developing promising treatments for unmet medical needs, so we’re very pleased to join TetraLogic and its investors to support its efforts to advance SMAC mimetics as potential new treatments for cancer."
Amgen had originally invested in TetraLogic, a US-based developer of drugs to treat cancer, at its $36m series B round in mid-2006, two years after the corporate venturing division was launched.
However, some of TetraLogic’s original investors from its $8m series A round in 2004, PA Early Stage Partners and Kammerer Associates, were not mentioned by the company as part of the C round.