ATyr Pharma, an innovative protein therapy company focused on rare diseases, today announced a close of $10 million in debt financing from Silicon Valley Bank to support the clinical development of Tyr’s first therapeutic program for the treatment of rare autoimmune diseases and a rare disease pipeline for immune disorders.
‘In conjunction with our Series D funding, this loan provides additional funding as we translate Physiocrine biology into a new class of protein therapy to treat many different types of immune disorders,’ said John Mendlein, Ph.D. D. D. CEO and Chief Executive Officer of Tyr Pharma
‘We are proud to be a partner of Tyr Pharma, offering the added flexibility that the company needs to pursue its meaningful objectives,’ said Mike White, Managing Director of Life Sciences at Silicon Valley Bank in San Diego. ‘Working with life science companies like aTyr, which are pursuing innovations that will directly impact the quality of people’s lives, is inspiring and rewarding. ”
Physiocrines act as extracellular signaling molecules to orchestrate cell homeostasis in response to stress. Physiocrines are naturally occurring proteins derived from tRNA synthetases that play a key role in the functioning of human physiology and the resolution of inflammation. As potent endogenous inflammation modulators, Physiocrines offers the opportunity to modulate biological pathways through new, naturally occurring mechanisms, many of which have multiple therapeutic advantages, including improved selectivity, efficacy and reduced side-effect profiles compared to many existing anti-inflammatory therapeutics.
About the Bank of Silicon Valley
Silicon Valley Bank is the leading bank for technology, life science, clean technology, venture capital, private equity and premium wine companies. SVB provides industry knowledge and connections, finance, treasury management, corporate investment and international banking services to its clients worldwide through 28 U. Oh, S Offices and six international operations; (Nasdaq: SIVB)