Tau Therapeutics Closes $3M Financing
CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Tau Therapeutics LLC, an oncology company repositioning and developing T-type calcium channel inhibitors for the treatment of solid tumors, announced that it has closed a $3 million round of private equity financing. The proceeds will support Tau’s Phase 1b clinical trial currently being conducted with the National Cancer Institute’s Adult Brain Tumor Consortium. Additionally, the proceeds will support development of new therapies and diagnostics in multiple indications. Tau has raised over $10 million from private investors throughout the United States and received over $12 million in non-dilutive resources in the last six years.
“Our investors share our enthusiasm for Tau’s promising new Interlaced Therapy™ method to treat solid tumor cancers. This is a very exciting time for us as we begin to test how well our therapy works in cancer patients,” said President and CEO Andrew Krouse. The Phase 1b trial is a dose escalation trial of Interlaced Therapy™ -- using Tau’s first product candidate mibefradil sequentially administered with a cytotoxic drug -- in patients with recurrent high-grade glioma. This novel tumor pre-treatment is intended to amplify the effectiveness of current cancer therapies.
Tau plans to present results of the Phase Ib trial in 2013.
About Tau Therapeutics LLC
Tau Therapeutics, a privately held oncology company based in Charlottesville, VA, is at the forefront of cancer research focusing on controlling the proliferation pathway rather than a specific protein or growth factor. Tau’s Interlaced Therapy™ is built on the rationale that using a T-type calcium channel inhibitor to increase the proportion of cancer cells and cancer stem cells at the point of maximum metabolic vulnerability in S phase will increase cell death caused by cytotoxic chemotherapies. By more effectively reducing tumor burden and killing the cells that cause recurrence, Tau believes it will offer a significant advancement in the treatment of cancer.