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Series A financing co-led by Vida Ventures, T.A. Springer, and Polaris Partners with participation from EcoR1 Capital

Tectonic’s proprietary technology platform based on pioneering work from the Harvard lab of co-founder, Andrew Kruse, PhD

Industry veteran Alise Reicin, MD named President and Chief Executive Officer

Boston, MA (April 15, 2021) – Tectonic Therapeutic, a pre-clinical stage biotechnology company transforming the discovery of novel G-protein-coupled receptors (GPCR)-targeted therapies, today announced that it has raised $80 million in a Series A financing. The financing was co-led by Vida Ventures, T.A. Springer, and Polaris Partners, with participation from EcoR1 Capital.

Tectonic was co-founded in 2019 by Andrew Kruse, PhD, Professor of Biological Chemistry and Molecular Pharmacology at Harvard Medical School and Timothy A. Springer, PhD, Latham Family Professor and Professor of Biological Chemistry and Molecular Pharmacology, Professor of Medicine, Harvard Medical School, world-renowned scientists in the field of membrane protein biochemistry and immunology. Tectonic’s mission is to unlock the full potential of GPCR-targeted therapies with biologics. Dr. Springer, an internationally recognized immunologist and significant investor in the Series A, has founded multiple biotech companies including LeukoSite, Scholar Rock and Morphic Therapeutic, and was a founding investor of Moderna and Editas Medicine. His research enabled the discovery of several important medicines including Campath®, Velcade®, and Entyvio®. Based on the pioneering work from Dr. Kruse’s lab, Tectonic’s proprietary GEODe platform overcomes the challenges encountered to date in the discovery of biologics that modulate GPCR signaling, enabling the advancement of novel GPCR-targeted therapies.

Demonstrating a durable treatment effect with the native relaxin protein can be challenging due to its intrinsic short half-life; however, initial data from Tectonic’s ongoing Phase 1A study suggests that TX45 has the potential to overcome previous challenges and to be a best-in-class therapy. Topline results from the Phase 1A study are expected to be reported in mid-2024, followed by results from the Phase 1B study in Group 2 PH with HFpEF patients in 2025. A randomized Phase 2 study is planned to begin in H2 2024.

“GPCRs are central to human biology and are the target of approximately 30% of all currently approved drugs,” said Dr. Springer. “However, many GPCRs still remain unexplored or are considered ‘undruggable’. The Tectonic platform makes it possible to develop a broad pipeline of biologics against the most challenging receptors in the class. Despite the rich pipeline of approved drugs, these target less than 15% of the GPCR class.”

To harness the full potential of their platform, Tectonic has assembled an accomplished management team of industry veterans who have successfully led the development of more than 10 novel drugs across multiple therapeutic areas, including Merck’s blockbuster anti-PD-1 therapy, Keytruda®. Alise Reicin, MD, former President of Clinical Development at Celgene, has been appointed as the company’s President and Chief Executive Officer, and a member of the Board of Directors.

“Founded on compelling science, Tectonic is committed to blazing a new trail for GPCR therapy,” said Dr. Reicin. “We are pursuing an efficient path to proof of concept in indications of high unmet need supported by strong biology. The team’s expertise and experience offer the potential for expansion to other challenging, and previously undruggable, cell-surface targets. We are excited that our vision is shared by a world-class syndicate of investors who have a deep understanding of the industry and shared passion for delivering an innovative solution to a longstanding problem in drug discovery.”

Joining Dr. Reicin are Christian Cortis, PhD, as Chief Operating Officer, Anthony Muslin, MD, as Chief Development Officer, and Marc Schwabish, PhD, as Chief Business Officer.

In addition to Dr. Reicin, the Tectonic Board of Directors includes Terry McGuire, Polaris Partners, who will serve as the company’s Chairman; Stefan Vitorovic, Vida Ventures; Praveen Tipirneni, MD, Morphic Therapeutic, Inc.; Timothy A. Springer, PhD, Harvard; and Andrew Kruse, PhD, Harvard. Tectonic’s experienced, collaborative, and dedicated team is committed to building a leading company that can deliver breakthrough therapeutics.

Our visionary founders and management team have the ability not only to build on this transforming platform but also to fully capitalize on its potential in a wide array of therapeutic areas,” said Terry McGuire, Polaris Partners. “With the expansion of our investor syndicate, and leadership from this exceptional leadership team, Tectonic will be in a position of strength to advance a broad pipeline of first-in-class treatments.”

“We believe that Tectonic’s proprietary technology platform has the potential to deliver game-changing results for the treatment of a broad range of indications,” said Stefan Vitorovic, Co-Founder and Managing Director, Vida Ventures. “We are impressed by the bold vision of the scientific founders and management team and are thrilled to support Tectonic as they accelerate this science from translational research to patients in need of innovative treatment options.”

About Tectonic Therapeutic

Tectonic Therapeutic, co-founded by Andrew Kruse and Tim Springer of Harvard Medical School, is transforming the discovery of antibodies and other biologic drugs targeting GPCRs to develop novel therapies for patients inadequately served by current treatments. With its proprietary GEODe™ platform, Tectonic aims to unlock the therapeutic utility of some of the most difficult receptors in the class, where small molecule pharmacology may be intractable. In January 2024, Tectonic entered into a definitive agreement to merge with AVROBIO, Inc. (Nasdaq: AVRO). Tectonic is headquartered in Watertown, Massachusetts. Learn more at www.tectonictx.com and follow us @TectonicTx.

Tectonic Therapeutic Contacts:

Investor:
Christian Corliss, Ph.D
Tectonic Therapeutics
ccortis@tectonictx.com
(781) 327-2606

Media:
Karen Sharma
MacDougall
ksharma@macdougall.bio
(781) 235-3060