TP Therapeutics taps corporates in $45m round

May 26, 2017 • Sam Shaw

Corporate venturing units Lilly Asia Ventures and SR One have contributed to a series C round that will support development of TP's precision cancer drug.

US-based biopharmaceutical company TP Therapeutics has closed a $45m series C round co-led by the corporate venture capital arms of pharmaceutical companies Eli Lilly and GlaxoSmithKline (GSK).

Lilly Asia Ventures and GSK subsidiary SR One were joined by healthcare investment firm OrbiMed Advisors, hedge fund sponsor Cormorant Asset Management and seed stage investor SV Tech Ventures, the latter two participating as existing investors.

Founded in 2013, TP Therapeutics is a clinical-stage oncology specialist developing precision drugs to treat cancer and…

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