Cancer drugmaker TetraLogic Pharma raises $32M Series C

TetraLogic Pharmaceuticals has completed a $32 million Series C fund-raise that the company will use to push its cancer drug through a phase 2a study.

The Malvern, Pennsylvania, company’s lead drug candidate, TL32711, is currently in a phase 1 study in patients with solid tumors, according to a statement from TetraLogic. The trial started in January.

The drug works by neutralizing inhibitors of apoptosis proteins, which block tumor cell death. Cancer cells frequently “over-express” the inhibitors, allowing cancer cells to survive and progress. TetraLogic’s drug blocks those inhibitors, allowing the cells to die by aptosis, according to the company.

The round was led by a new investor, Boston and San Francisco-based Clarus Ventures. A host of other firms participated, including new investor Hatteras Venture Partners and existing investors Amgen Ventures, HealthCare Ventures, Latterell Venture Partners, Novitas Capital, Quaker BioVentures and the Vertical Group.

In 2006, TetraLogic announced a $36 million Series B round, which was led by Latterall Venture Partners.

The suburban Philadelphia company began operations in 2004 when it raised an $8 million Series A round, led by HealthCare Ventures.