Company is developing novel biologics to target and eliminate a key driver of cancer recurrence and metastasis --Tumor Macrophage Hybrid (TMH) cells
-Financing led by ARCH Venture Partners-
NEW YORK, Aug. 17, 2023 /PRNewswire/ -- TFC Therapeutics (TFC), a biotechnology company focused on developing novel biologics to target and eliminate key drivers of cancer recurrence and metastasis, today announced a financing led by ARCH Venture Partners with participation from Breakout Ventures, Alexandria Real Estate Equities, and Alumni Ventures. In connection with the financing, Steven Gillis, Ph.D., Managing Director at ARCH, has been appointed as Chairman of the TFC Board of Directors.
TFC has entered into an exclusive license agreement with Columbia University to develop a drug discovery platform that targets Tumor Macrophage Hybrid (TMH) cells. Under the terms of the agreement, TFC has the exclusive rights to develop and commercialize intellectual property developed at Columbia University by Azra Raza, Chan Soon-Shiong Professor of Medicine and Clinical Director of the Edward P. Evans Foundation Myelodysplastic Syndrome Center at Columbia University Vagelos College of Physicians and Surgeons, and Abdullah Ali, PhD, Assistant Professor of Medical Sciences (in Medicine) at Columbia University Vagelos College of Physicians and Surgeons.
TFC is focused on developing therapies to eliminate the most resilient cancers and stop disease recurrence. TFC's emerging platform technologies are focused on the elimination of TMH cells, which are found in the bloodstream of patients with cancer. The presence of TMH cells in the circulation of cancer patients is associated with metastasis, resistance to traditional therapies, relapse, and poor outcomes. In animal models, these cells have been associated with metastasis and resistance to standard therapies.
"TFC is positioned to help patients fight cancer and overcome resistance to current therapies by developing biologics designed to target and eliminate a specific cell-type that may play a fundamental and causative role in metastasis and cancer recurrence," said Dr. Gillis. "Despite substantial R&D efforts and regulatory approvals of more anti-cancer therapies, new approaches to therapy are still sorely needed. I look forward to the results of ongoing work at TFC and hope that its efforts result in the development of a new and important means of therapy for cancer patients."
"At TFC, we remain committed to bringing forward a new approach to treatment of cancer metastasis and relapse that will benefit patients living with cancer," said Jennifer Power, Chief Executive Officer of TFC Therapeutics. "We believe that targeting a key driver of cancer, TMH cells, coupled with the financial support of our investor syndicate and the scientific acumen of our founders, gives TFC a significant advantage in building a valuable platform, pipeline and company."
The TFC team has deep experience in the development and commercialization of novel medicines. TFC's Chief Executive Officer, Jennifer Power, is an experienced leader with over 20 years of experience in the development, commercialization, and delivery of medicines. Prior to joining TFC, Ms. Power was Deputy Director, Innovation Introduction at the Bill & Melinda Gates Foundation. Prior to that, she spent twelve years at Pfizer, Inc. where she served in multiple senior roles, leading strategic marketing and delivery of multi-billion-dollar drug portfolios. Ms. Power serves as an Advisory Board Member, Global Health JSC at Antiva Bioscience, Inc. Ms. Power received her MBA from Columbia University and her BA in Economics from Pomona College.
About TFC Therapeutics
TFC Therapeutics is a biotechnology company developing novel biologics to target and eliminate key drivers of cancer. The Company's emerging technology platform is focused on targeting and eliminating Tumor Macrophage Hybrid (TMH) cells. TMH cells are implicated in metastasis, treatment resistance, and relapse. TFC was founded by scientists and executives with deep cancer biology expertise and a commitment to delivering benefit to patients based on rigorous pursuit of novel approaches to cancer therapy.
TFC is headquartered in New York, NY and secured initial funding in August 2023. To learn more, please visit www.tfctx.com.
Investor and Media Contact:
SOURCE TFC Therapeutics