RTW Investments has a series C for the UT Southwestern and Gladstone Institutes spinout, which will progress its lead asset into the clinic.
Tenaya Therapeutics, a US-based developer of therapies for heart disease exploiting Gladstone Institutes and University of Texas Southwestern Medical Center research, collected $106m in a series C round yesterday led by RTW Investments.
GV, a corporate venturing arm of technology conglomerate Alphabet, also took part in the round, as did RA Capital Management, Fidelity, Column Group, Casdin Capital, funds and accounts advised by T Rowe Price Associates and all other existing shareholders.
Founded in 2016, Tenaya’s approach to developing potential treatments addressing common and rare heart disease consists of three therapeutic platforms: gene therapy, cellular regeneration and precision medicine.
The series C financing will enable the spinout to move its lead gene therapy assets into the clinic, advance several programmes towards investigational new drug-enabling studies, further develop its three platforms and invest in current good manufacturing practices capabilities.
Faraz Ali, chief executive of Tenaya, said: “Heart disease remains the leading cause of death in the world despite improvements in standards of care.
“There is tremendous promise in the use of vastly more sophisticated tools for drug discovery available today to pioneer new classes of targeted treatments for heart failure, including potentially one-time curative gene therapies for genetic cardiomyopathies.
“We appreciate the strong support of new and existing investors who are helping us advance therapies to improve and extend the lives of patients.”
Casdin Capital previously led a $92m series B round for Tenaya in 2019, when GV, Column Group and a range of undisclosed new and existing backers also participated. Column Group had already led a $50m series A round in 2016.
