Tvardi Therapeutics, Inc. (“Tvardi”) a privately held, clinical-stage biopharmaceutical company focused on the development of STAT3 inhibitors, has closed a $74 million Series B financing. The financing was led by new investors Slate Path Capital, Palkon Capital, ArrowMark Partners, and 683 Capital, with continued support and participation by existing investors, including Sporos Bioventures. In conjunction with the financing, Jamie McNab, Partner at Slate Path Capital, will join the Tvardi Board of Directors.
Proceeds from this financing will be used to advance Tvardi’s product candidates through multiple clinical data readouts in mid-stage trials for cancer and fibrosis. The company’s lead product, TTI-101, is currently being studied in a Phase 1 trial of patients with advanced solid tumors who have failed all lines of therapy. To date, TTI-101 has been well-tolerated and demonstrated multiple durable radiographic objective responses in cancer patients treated with TTI-101 monotherapy.