Biotech with Seattle presence raises $235 million ahead of drug launch
London-based Tenpoint Therapeutics, which has its U.S. headquarters in Seattle, raised $235 million as it prepares to launch its lead eye drop treatment for presbyopia.
The funding includes an $85 million Series B round and a $150 million term loan from Hercules Capital and will support the launch of Yuvezzi, a treatment for age-related close-up vision loss. Tenpoint has about 100 employees globally, with roughly a dozen based in Seattle, which serves as the company’s U.S. headquarters. “We deeply appreciate the support of our strong syndicate of global, long-term investors,” CEO Henric Bjarke said in a news release.
The financing adds to the Puget Sound’s momentum as a leading destination for biotech companies advancing therapies toward commercialization.