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Wall Street JournalTenNor Announces More than 300 Million RMB Financing to Support Development and Commercialization of Late-Stage Assets Including Rifasutenizol for Heliobacter pylori Infections
SUZHOU, China, Oct. 16, 2024 /PRNewswire/ -- TenNor Therapeutics, a clinical stage company dedicated to developing new therapies to address unmet needs in infectious diseases, announced today the initial closing of a Series E financing round for more than 300 million RMB. New investor AMR Action Fund joined Zhongshan Venture Capital and other existing investors in the round. The proceeds will be used to support the development and to seek regulatory approval in China of rifasutenizol, which could become the first new drug developed specifically for Helicobacter pylori infection in more than 30 years.
"We are extremely glad to have the financial support from AMR Action Fund, Zhongshan Venture Capital, and other existing investors," said Dr. Zhenkun Ma, Founder and CEO of TenNor Therapeutics. "TenNor is dedicated to addressing the challenges of drug-resistant infections in China and around the world by innovating solutions for diseases currently without adequate therapies. With the additional funding, TenNor is well positioned to seek regulatory approval and bring to market rifasutenizol, a novel therapy for Helicobacter pylori infections, while also advancing a second product that will target prosthetic joint infections and similar infections associated with medical devices."
"The global burden of drug-resistant bacterial infections is staggering and only getting worse, with recent data in The Lancet indicating that nearly 40 million people will die from antimicrobial resistance by 2050," said AMR Action Fund Chief Executive Officer Henry Skinnner, PhD. "We are pleased to support the team at TenNor as they advance the development of novel antibiotics that could save the lives of patients around the world and significantly reduce the suffering associated with these intractable infections."
"TenNor is a leading company with multiple assets in late-stage of clinical development for the treatment of diseases associated with bacterial infections and metabolism," said Cheng Zhang, Chairman of Zhongshan Venture Capital, "TenNor adopts a first-line strategy to address major unmet needs in China. The products TenNor is developing has significant market potential in China and around the world. We are very glad to support this round of investment together with AMR Action Fund, a global leader in the antimicrobial space."
TenNor develops differentiated products for diseases associated with bacterial infections and metabolism that currently lack adequate therapeutic options. The company adopts a business strategy to develop first-line therapies for indications with clear unmet medical needs and major market potential to ensure commercial success.
TNP-2198 (rifasutenizol) is a novel multi-targeting drug candidate with a synergistic mechanism of action against anaerobic and microaerophile bacteria. It has potential to become the first new drug developed specifically for Helicobacter pylori infection in more than 30 years. TNP-2198 could play an important role in supporting the large-scale screening-and-eradication strategy to prevent gastric cancers in regions with high gastric cancer rate. TenNor is completing a phase 3 clinical trial of TNP-2198 in China and has received Qualified Infectious Disease Product (QIDP) and Fast Track designations from the U.S. Food and Drug Administration (FDA).
TNP-2092 (rifaquizinone) is a novel triple targeting drug candidate designed to address the dual challenges of antimicrobial resistance and persistence associated with medical device infections. TenNor has completed six phase 1 and phase 2 clinical trials for TNP-2092 for injection and is planning for a phase 3 multiregional clinical trial for the treatment of prosthetic joint infections. TNP-2092 has received QIDP, Fast Track and Orphan Drug designations from the U.S. FDA.
About TenNor Therapeutics
TenNor Therapeutics is a clinical-stage company specialized in the discovery and development of differentiated new drug products against diseases associated with bacterial infection and metabolism. TenNor possesses a unique multi-targeting drug conjugate technology platform and a strong new drug development portfolio with global IP protection. Several products are currently in late-stage of clinical development targeting H. pylori infection, medical device infections, hepatic encephalopathy and irritable bowel syndrome with diarrhea. The company is committed to address the unmet needs in the disease area and provide safe and effective therapies for patients in China and around the world.
For more information please visit: www.tennorx.com.
View original content:SOURCE TenNor Therapeutics (Suzhou) Limited
