Teitur Trophics Raises EUR 28M in Series A Financing
Summary
Teitur Trophics, an Aarhus, Denmark-based biotech company dedicated to developing treatments for patients suffering from neurodegenerative diseases, raised EUR 28M in Series A funding. The round was led by Sunstone Life Science Ventures and Sound Bioventures, with participation from new investors, Industrifonden, Innovestor’s Life Science Fund and P53 Invest. In conjunction with the Series A financing, Charles Large will continue as Chairman of the Board at Teitur, while Søren Lemonius, Casper Breum, Fredrik Lehmann, Milla Koistinaho and Susanne Stuffers will join the Teitur Board of Directors. The company intends to use the funds to progress its lead drug candidate, TT-P34, from candidate selection into clinical development, including a Phase 1b clinical study in neurodegenerative diseases. Its lead drug candidate, TT-P34 works by clearing the toxic protein deposits implicated in neurodegenerative diseases, restoring the function of mitochondria in affected brain cells and promoting pro-survival signaling.