Thetis Pharmaceuticals has secured $4.2 million in non-dilutive financing from The Leona M. and Harry B. Helmsley Charitable Trust. Structured as a program-related investment in the form of a loan, the Helmsley funding supports the early clinical development of TP-317,a first-in-class small molecule potential oral first-line therapy for treatment of Crohn’s disease.
“TP-317 represents a paradigm shift in the treatment of IBD,” said Gary Mathias, co-founder and CEO of Thetis. “We are grateful to the Helmsley Charitable Trust for supporting our vision and providing an opportunity to validate this novel therapeutic approach.”