Indaco Venture Partners reports that it has joined the Series A round of Tes Pharma, a biotechnology company specialising in the development of innovative therapies for unmet medical needs in oncology, kidney and metabolic diseases. Indaco’s entry into the round, previously led by XGEN Venture, brings the total raised to EUR 15m.
The funding aims to support the development of TES-AKI-01, the company’s drug candidate for the treatment of acute kidney failure (AKI), and other pipeline programmes for the treatment of metabolic and oncological diseases.
AKI is a critical condition characterised by a sudden decline in kidney function, with approximately 100 million cases reported globally each year and no currently approved therapy. AKI is a life-threatening condition for patients, complicating up to 50 per cent of hospital admissions requiring intensive care. Early intervention and effective prevention strategies are essential to improve patients’ clinical response and reduce the long-term impact on renal health. AKI and other renal diseases have been associated with NAD+ depletion. TES-AKI-01 recovers NAD+ levels and restores essential cellular pathways linked to mitochondrial dysfunction in the kidney. TES-AKI-01 demonstrated a strong protective effect in AKI-relevant animal models.
Giovanni Rizzo, partner at Indaco BIO Fund says in a note: ‘Tes is a team-based company with enormous knowledge in drug discovery and development and brings with it a pipeline of products for clinical indications ranging from cellular metabolism to cancer. With this round we expect to accelerate the development of a drug that in the first instance can help patients with AKI’.
Davide Turco, co-founder and CEO of Indaco SGR, adds: ‘The investment in Tes Pharma represents further confirmation of our commitment to support promising companies in the biotechnology sector. The Indaco Bio fund is going through a particularly intense period: the Tes Pharma transaction is just the first in a series of new investments that will be announced in the coming weeks. These initiatives testify to our commitment to the constant search for innovative solutions that can offer both high returns and significant contributions to improving people’s quality of life’.
‘The support of XGEN and Indaco, investors specialised in biotechnology, testifies to our pioneering approach in the development of innovative therapies for diseases with high unmet needs,’ says Luca Benatti, CEO of Tes Pharma. ’Thanks to our recent discoveries, this investment allows us to accelerate the development of our core programmes towards significant milestones. (photo by Ashraful Islam on Unsplash)
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