Trethera Announces Completion of $3.2 Million Seed Funding Round From Current Investors
Los Angeles, February 24, 2021— Trethera Corporation (“Trethera”), a biopharmaceutical company committed to developing novel drugs targeting cellular nucleotide metabolism for the treatment of cancer and autoimmune diseases, is pleased to announce completion of its Seed Preferred 3 Stock financing. Trethera raised an aggregate of $3.2 million from its existing investors, which funds will be used for working capital purposes.
“Raising this amount of capital from current stockholders further signifies Trethera’s momentum, be it from TRE-515 achieving Orphan Drug status or the prosecution of new patents,” said Dr. Kenneth Schultz, Chairman and CEO of Trethera. “Beyond the dollar amount, that many people tend to focus on, are the long-term investors who come with incredible business expertise. Over the past year Trethera has attracted world class talent, with a team of esteemed scientific experts and advisors. Our investors are enthusiastic about Trethera’s multidimensional drug TRE-515 entering clinical trials.”
Trethera’s strategy is to create a highly attractive and differentiated approach for the treatment of cancers and autoimmune diseases with TRE-515. The company is leveraging new insights into metabolic pathways to advance novel treatment strategies. “I am excited by the opportunity to help advance medicines that could significantly impact how people with these diseases are treated,“ concluded Dr. Schultz.
Trethera is a preclinical stage privately held biopharmaceutical company dedicated to pioneering the development of novel treatments for autoimmune diseases and cancers. Founded by prominent UCLA scientists, Trethera is led by experienced management and board members. Trethera’s innovative approach to targeting nucleotide metabolism led to the development of TRE-515, an orally taken capsule designated by the FDA as an Orphan Drug. TRE-515 is a first-in-class preclinical stage drug that inhibits deoxycytidine kinase (dCK), the rate-limiting enzyme in the nucleoside salvage pathway, one of two biosynthetic pathways that generate DNA precursors. It is believed that some forms of cancer may be preferentially dependent on the salvage pathway to support tumor growth. Certain autoimmune diseases might respond to TRE-515 treatment. Trethera is developing TRE-515 for use as a monotherapy or in combination, to precisely target a metabolic vulnerability of cancer cells or autoimmune diseases that will transform outcomes for patients.
For more information, please visit us at trethera.com.
Note on Forward-Looking Statements
All statements other than statements of historical facts included in this press release that address activities, events or developments that Trethera believes or anticipates will or may occur in the future are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. Although Trethera has a reasonable basis for the forward-looking statements contained herein, Trethera cautions that such statements are based on current expectations about future events and are subject to risks, uncertainties and factors relating to medical and scientific research, all of which are difficult to predict and many of which are beyond Trethera’s control, that may cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release. These potential risks and uncertainties include, without limitation: the extent to which development of any novel cancer therapies or therapies for autoimmune diseases succeeds; whether Trethera would obtain the necessary regulatory approvals to commence human trials or commercialize TRE-515 or any novel therapies resulting from such research; Trethera successfully implementing its growth strategy, including that relating to its disease therapies; the effects of the global Covid-19 pandemic; changes in economic conditions; competition; and risks and uncertainties applicable to the business of Trethera. The statements in this press release speak only as of the date hereof and Trethera does not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.