November 18, 2021
Proceeds will fund the continued clinical development of CFI-400945, CFI-402257 and CFI-402411, the preclinical development of the Biologics and Cell Therapy platform. Financing led by Sino Biopharmaceutical and 3W Fund and includes other healthcare focused funds.
"Our team is very excited to announce the closing of this transformative Series B financing, and are very grateful to our investors, both old and new, for their belief, commitment and support of our goal to build a globally impactful Biotechnology organization," said Shane Burgess, Chairman and co-CEO of Treadwell. "Since our company was founded in July 2019, we have made significant strides in building and validating our clinical stage small molecule portfolio, as well as broadening our pre-clinical pipeline of novel biologic and cell therapy assets. The funding will allow us to further the development of our product candidates, as well as to continue building out our organization in all functions with the talent necessary to support our mission, which is to translate novel scientific insights into hope for patients in need," added Michael Tusche, Ph.D., co-CEO of Treadwell.
"Treadwell is a company steeped in world class science and has an exciting pipeline of first in class drugs with compelling signs of clinical activity," said Dr. Mao Li, Chief Medical Officer at Sino Biopharmaceutical Limited. "We are excited to be part of Treadwell in the next phase of its growth."
"We are excited to support Treadwell to further develop its strong pipeline of first in class drug candidates to help patients worldwide." said Cathy Chen of 3W Fund. "We look forward to significant growth of Treadwell in the near future."
The proceeds from this financing will allow Treadwell to continue the clinical and pre-clinical development of its broad, multi-modality pipeline. This includes TWT-101 study of CFI-402411 in advanced solid tumors as a monotherapy and in combination with pembrolizumab; TWT-202 study of CFI-400945 in leukemia as a monotherapy and in combination with decitabine or azacitidine, an IND filing in late 2021 and subsequent study of CFI-402257 in metastatic ER+ Breast cancer, as well as other opportunistic trials. It will also support Treadwell's continued development and validation of its preclinical pipeline of novel biologic and cell therapy approaches, the latter of which is expected to enter the clinic around early 2023. Lastly, the funding will allow Treadwell to continue to grow and operationalize the organization with world class talent and infrastructure.
Read the full business release here.