US-based heart disease therapy developer Tenaya Therapeutics collected $106m yesterday in a series C round yesterday that included GV, a corporate venturing arm of technology conglomerate Alphabet.
The round was led by investment firm RTW Investments and also featured investment and financial services group Fidelity, RA Capital Management, Column Group, Casdin Capital, funds and accounts advised by T Rowe Price, and all Tenaya’s other existing shareholders.
Tenaya’s is developing potential treatments addressing common and rare heart disease using an approach consisting of three therapeutic platforms: gene therapy, cellular regeneration and precision medicine.
The series C financing will enable the company to move its lead gene therapy assets into the clinic, advance several programmes toward investigational new drug-enabling studies, further develop its three platforms and invest in current good manufacturing practices capabilities.
Faraz Ali, Tenaya’s chief executive, said: “Heart disease remains the leading cause of death in the world despite improvements in standards of care.
“There is tremendous promise in the use of vastly more sophisticated tools for drug discovery available today to pioneer new classes of targeted treatments for heart failure, including potentially one-time curative gene therapies for genetic cardiomyopathies.
“We appreciate the strong support of new and existing investors who are helping us advance therapies to improve and extend the lives of patients.”
Casdin Capital led a $92m series B round for Tenaya in 2019 that also featured GV, Column Group and a range of undisclosed new and existing backers. Column Group had already led a $50m series A round for the company in 2016.
The original version of this article appeared on our sister site, Global University Ventures.
