Tectonic Therapeutic, Inc. (TECX) has merged with AVROBIO, Inc. and will operate as Tectonic Therapeutic, Inc., trading on Nasdaq under “TECX.” Tectonic specializes in developing therapeutic proteins and antibodies targeting GPCRs.
Tectonic secured $130.7 million through a private placement involving major investors to support this merger. With this funding, the company aims to fund operations until mid-2027.
Tectonic’s lead program, TX45, targets Group 2 Pulmonary Hypertension in Left Heart Disease with Preserved Ejection Fraction. Phase 2 clinical trials are expected in the second half of 2023, with results anticipated in 2026.
Tectonic’s second program aims to treat Hereditary Hemorrhagic Telangiectasia (HHT), a genetic bleeding disorder affecting approximately 70,000 individuals in the United States. A development candidate is expected to be selected later this year, with clinical studies commencing in late 2025 or early 2026.
Tectonic’s merger and financing have positioned it for public market entry and significant growth over the next two years. The company’s strong financial foundation, investor syndicate, and leadership team will drive innovation and value creation.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.