Durham biotech startup founded by Duke grad raises nearly $1M in equity

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DURHAM – Tavros Therapeutics, an emerging biotechnology company based out of Durham, has raised nearly $1 million in equity, according to a recent securities filing, and is working to discover “a new frontier” in oncology therapy.

“We have closed a $3 million equity deal with the local investor, of which the first tranche of $1 million has been received,” said its founder, y Duke University grad Eoin McDonnell last October.

“We believe we can make a significant impact in oncology therapy by uncovering unique vulnerabilities within the tumor to place the right drug, with the right combination in the right patient population.”

McDonnell is starting the company with Duke University professor Kris Wood and Greg Mossinghoff, and said he has received funding from a local investor “with a passion for emerging innovative life science investments.

He added he is finalizing a partnership agreement with a biotechnology company.

McDonnell, who signed the filing, is a former senior scientist with Element Genomics, a Duke-spinout company focused on using CRISPR/Cas9-based tools to discover novel regulatory elements in the genome. It was acquired by UCB Pharma in 2018.

He received a doctorate in molecular cancer biology at Duke, and also served as a postdoctoral fellow at drug giant Pfizer in California.

The startup is currently seeking a research associate as advertised on North Carolina Biotechnology Center’s online notice board.

“We are excited to be a part of the growth in biotech in this area, and specifically the thriving startup biotech scene,” McDonnell said.

Source: WRAL TechWire