Teon Therapeutics

About Teon Therapeutics

Teon Therapeutics, a clinical-stage biopharmaceutical company founded in 2017, is focused on developing a portfolio of oral, small-molecule drugs targeting metabolic signaling pathways to treat cancer. The company was co-founded by CEO and CSO Lina Yao, MD, PhD, along with Peter Fan, Elfatih Elzein, and Jim Liu. Dr. Yao brings over two decades of pharmaceutical industry experience, notably as a Senior Director of Biology at Gilead Sciences, where she contributed to the development pipeline across multiple therapeutic areas. Her background in progressing small molecules and antibodies from discovery to clinical development is central to Teon's strategy.

The company's core business revolves around developing drugs that inhibit immunosuppressive and cancer-promoting signaling pathways within the tumor microenvironment (TME). By targeting unexploited metabolic pathways, Teon aims to restore the body's anti-tumor immunity and directly halt the proliferation of cancer cells. Its business model is centered on the research and development of these novel therapies, with a strategy that includes forming partnerships to maximize the value and advance its innovations into the market. The company operates in the immuno-oncology sector, developing treatments for patients with difficult-to-treat cancers who have limited therapeutic options.

Teon's pipeline features several candidates, with its lead program, TT-702, being a first-in-class, oral adenosine A2B receptor antagonist. This molecule is designed to counter cancer's ability to hide from the immune system by blocking the A2B receptor, which is overexpressed in many tumor types and contributes to cancer cell growth and immune suppression. A Phase 1/2 clinical trial for TT-702, in collaboration with Cancer Research UK, began in early 2022 to evaluate its safety and efficacy in patients with a range of advanced solid tumors. Another key product is TT-816, a first-in-class oral cannabinoid CB2 receptor antagonist that functions as an immune response modifier. This molecule aims to enhance both T cell and NK cell anti-tumor activity and is being evaluated in a Phase 1/2 trial as both a monotherapy and in combination with Merck's KEYTRUDA® for cancers such as lung, renal, and ovarian. Teon's objective is to provide once-daily, oral medications, improving convenience and quality of life for cancer patients.

Financially, Teon Therapeutics has secured significant backing from the investment community. In February 2021, the company announced the completion of a $30 million Series A financing round. The round was led by Oceanpine Capital and included participation from new and existing investors such as Northern Light Venture Capital, Oriza Ventures, and Kaitai Capital. This funding was earmarked to advance TT-702 into clinical trials and to continue building out the company's research pipeline. The company had previously raised $5 million in a seed round in 2019, bringing its total raised capital to $35 million.