Denmark-based Teitur Trophics, a biotech company, announced that it has secured €28M in a Series A round of funding co-led by Sunstone Life Science Ventures and Sound Bioventures.
New investors Industrifonden, Innovestor’s Life Science Fund and P53 Invest also participated in the round.
Teitur says the funds will enable it to advance its lead drug candidate, TT-P34, from candidate selection into clinical development, including a Phase 1b clinical study in neurodegenerative diseases.
Teitur Trophics was founded by Simon Molgaard, Anders Dalby, Mathias Ollendorff, and Simon Glerup as a spin-off of Aarhus University seeded by the BioInnovation Institute (“BII”) in 2020.
Teitur Trophics is developing treatments for patients suffering from neurodegenerative diseases, including Parkinson’s Disease, Frontotemporal Dementia, and Huntington’s Disease.
The Danish company has developed a first-in-class circular peptide with a novel mechanism that preserves neuronal function.
According to Teitur, the lead drug candidate, TT-P34, is administered subcutaneously and has shown potent, brain-specific effects in animal models for Huntington’s Disease, Parkinson’s Disease, and Frontotemporal Dementia.
TT-P34 was developed from “the sortilin-related Vps10p domain-containing receptor (“SorCS2”) receptor.”
It targets three major pathophysiological hallmarks of neurodegeneration: mitochondrial failure, lysosomal dysfunction, and loss of pro-survival signaling.
Read more on Tech Gist Africa:
