Tacalyx Extends Seed Round to over €14 M to Advance Development of its Cancer Therapeutics Targeting TACAs
Tacalyx, a privately held biotech company focused on developing novel anti-TACA (Tumor Associated Carbohydrate Antigens) cancer therapies, announces the extension of its seed financing to over €14 M. This extension round was led by new investor Thuja Capital, and as part of the financing, Evan Castiglia, Partner at Thuja Capital, will join the Board of Directors. Thuja joins the existing investors Boehringer Ingelheim Venture Fund (BIVF), Kurma Partners, High-Tech Gründerfonds (HTGF), coparion, IdInvest/Eurazeo, Creathor Ventures and the Max-Planck-Society (MPG).
Tacalyx is a pioneer in the development of novel antibody-based therapeutics targeting TACAs, glycan structures that are often found on cancer cells but are absent from differentiated tissues under normal physiologic conditions. Thus, anti-TACA antibodies allow for specific targeting of cancer cells and can be further developed into various treatment modalities, including antibody-drug conjugates (ADCs) or T cell engagers (TCEs). With its unique expertise in glycan biology and manipulation, Tacalyx has established a pipeline of several first-in-class assets targeting different TACAs across multiple solid tumor indications. With the additional funds, Tacalyx will develop two of its novel antibodies into late preclinical stage as well as advance several earlier stage programs.
“We see great potential with the expertise and technology of Tacalyx in the emerging field of glycan biology and believe this technology platform can create novel treatment options for patients with excellent specificity across multiple solid tumor indications. We are excited to support the team in the development of this promising approach,” said Evan Castiglia, Partner at Thuja Capital.
Tacalyx has established a unique chemical platform that enables the company to reliably generate and validate bona fide antibodies against TACAs using tailored synthesized antigens in combination with sophisticated antibody generation technologies. To expand the development pipeline, Tacalyx has also established multiple academic collaborations to support the discovery of new TACAs. With its platform, Tacalyx has developed a pipeline of seven projects targeting both known and novel TACAs with high relevance for human malignancies.
Dr. Peter Sondermann, CEO and co-founder of Tacalyx, commented: “We are very happy that we have successfully increased our seed funding to a total of over €14 M. With these added funds, we will be able to make significant progress on two of our assets to clinical candidate stage, and advance others so they are ready for preclinical development. Based on the progress we have made, we are well positioned to further develop our pipeline candidates on our own as well as to explore partnership options to further elevate our cancer research. Our technology holds the promise of novel and more effective treatment options for cancers that cannot be treated otherwise, and we look forward to taking the next steps with the support of our expanded investor base.”
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