Treadwell Therapeutics Secures $27 Million in Seed Funding to Advance Novel Small Molecule Oncology Therapies

VCBeat (WeChat ID: vcbeat) learned from foreign media that on January 13, 2020, clinical oncology company Treadwell Therapeutics completed a $27 million seed financing round. The round was led by TIO Bioventures and will be used to develop novel small-molecule anticancer drugs.

Treadwell Therapeutics is a clinical-stage oncology company dedicated to developing best-in-class small-molecule anticancer drugs by exploiting the vulnerabilities of cancer cells, thereby addressing the needs of cancer patients. Michael Tusche, CEO of Treadwell Therapeutics and Partner at TIO Bioventures, stated, “Treadwell Therapeutics is leveraging innovative science in the fields of cancer biology and immuno-oncology to develop world-class small-molecule anticancer therapies.”

Treadwell Therapeutics’ research originated from pioneering studies conducted at the Campbell Family Institute for Breast Cancer Research (CFIBCR), part of the University Health Network (UHN), Canada’s largest research hospital. Building on this research, the Treadwell Therapeutics team developed CFI-400945, a best-in-class PLK4 kinase inhibitor, and CFI-402257, a potential TTK inhibitor. Currently, Treadwell Therapeutics is developing an oral immunomodulatory kinase inhibitor active against HPK1, an untapped immuno-oncology target.

TIO Bioventures Appoints Dr. Rachel W. Humphrey as Chief Medical Officer and Board Member of Treadwell Therapeutics. Dr. Humphrey has over two decades of executive experience in oncology drug development at major pharmaceutical and emerging biotechnology companies, having contributed to the development of Bristol-Myers Squibb’s first FDA-approved inhibitor, Yervoy® (ipilimumab), as well as AstraZeneca’s Imfinzi® (durvalumab) and Nexavar® (sorafenib).

Dr. Rachel W. Humphrey stated, “By establishing companies such as Treadwell Therapeutics, TIO Bioventures has successfully built strong relationships with world-class scientists and executives. I am delighted to join Treadwell Therapeutics to further advance the research and development of anticancer drugs.”

TIO Bioventures is a venture capital firm dedicated to funding the development of biotechnology companies. TIO Bioventures is committed to leveraging rigorous, research-driven scientific and technological approaches to develop best-in-class anti-cancer therapeutics, with the aim of improving survival rates and quality of life for cancer patients. Unlike traditional venture capital funds, TIO Bioventures effectively accelerates the growth of its portfolio companies through a “hands-on” approach via its TIO Discovery and Development Engine, working closely with scientists.

(Compiled by: Chang Jia)