Teclison Completes $5.9 Million Capital Raise
- Led by W.T.T. Investment, the family office of Taiwan’s Tsai family
- Proceeds to Advance Clinical Studies of its Potential First-in-Class Therapeutic Agent with Embolization Therapy in Metastatic Solid Tumors
PRINCETON, N.J., and TAIPEI, Taiwan, Feb. 14, 2022 (GLOBE NEWSWIRE) — Teclison, a clinical-stage biotechnology company developing innovative cancer therapeutics to induce tumor necrosis and enhance anti-tumor immunity, announced the completion of a $5.9 million in gross proceeds capital raise. The financing was led by W.T.T. Investment, the family office of Taiwan’s Tsai family, with participation from new and existing U.S. and Taiwan investors, including Nestor Capital.
The proceeds from the financing will further advance clinical studies of the company’s lead product candidate, TEC-001, a potential first-in-class therapeutic agent designed to induce tumor necrosis and enhance immune checkpoint inhibitors in solid cancers with liver metastasis. Teclison has a Clinical Trial Collaboration and Supply Agreement with Merck & Co. (known as MSD outside of the U.S. and Canada) to study TEC-001 in combination with their immunotherapy drug portfolio.
“This financing marks a significant step towards our goal of transforming the treatment of solid tumors with liver metastasis, one of the most common causes of cancer death,” said Ray Lee, M.D., Ph.D., Founder and CEO of Teclison. “We are very excited to have the support of investors who believe in our drug platform’s ability to enhance embolization therapy in liver cancer, synergize with immune checkpoint inhibitors, and achieve long-term remission for patients.”
About Teclison
Teclison is a clinical-stage biotechnology company developing innovative cancer therapeutics to induce tumor necrosis and enhance anti-tumor immunity. The company’s portfolio is comprised of new approaches aimed at enhancing the therapeutic benefit of tumor embolization and immunotherapy to treat nearly all solid cancers. Its therapeutic platform, Trans-Arterial TEC-001 Embolization (“TATE”), is being evaluated both as a monotherapy and in combination with FDA-approved immune checkpoint inhibitors in Phase 2 clinical trials for liver, colorectal, and lung cancers. Teclison is headquartered in Princeton, New Jersey. For more information, please visit www.teclison.com.
Forward-Looking Statements
This press release contains statements that are “forward-looking statements” that are based upon management’s current expectations and assumptions and are subject to a number of risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated herein.
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