True North raises $40M series C

Rare disease company True North Therapeutics Inc. (South San Francisco, Calif.) raised $40 million in a series C round led by new investor New Leaf Venture Partners. Other new investors Perceptive Advisors and Cowen Private Investments joined existing investors Kleiner Perkins Caufield & Byers, MPM Capital, OrbiMed, SR One and Baxalta Ventures.

This month, True North plans to begin Phase Ib testing of its TNT009, a humanized mAb against complement component 1 s subcomponent (C1S), to treat cold agglutinin disease (CAD). ...