Tempero Bio secures $70M for substance abuse treatment advancement

Tempero Bio, a promising biotechnology firm based in Oakland, California, has successfully raised $70 million in a Series B funding round. This significant investment aims to propel the development of their innovative drug, TMP-301, into intermediate clinical trials targeting cocaine and alcohol use disorders. The announcement of this financial boost was made by Tempero on Monday, emphasizing the pivotal role this funding will play in supporting two Phase 2 clinical trials. In addition to advancing these trials, the funds will also be allocated towards preparing for future late-stage studies and investigating further indications and formulations of the drug.

The investment round was led by 8VC, a notable player in the venture capital field, with participation from other key investors such as Khosla Ventures and Aditum Bio. Aditum Bio, although a relatively new entrant in the biotech investment space, has already made waves by previously backing Versanis Bio, a company focused on obesity treatments that was acquired by pharmaceutical giant Eli Lilly in 2023. Aditum Bio is co-managed by industry veterans Joe Jimenez, the former CEO of Novartis, and Mark Fishman, who previously headed the Novartis Institutes for BioMedical Research.

Tempero Bio emerged in 2020 through a strategic partnership with Sosei Heptares, a pharmaceutical company now operating as Nxera Pharma. This collaboration saw Nxera Pharma licensing TMP-301 to Tempero in return for an upfront payment and an equity stake. Aditum Bio played a crucial role in providing the initial funding necessary for Tempero's launch.

The drug in development, TMP-301, is designed to address the neurobiological basis of addiction by targeting and reducing excessive signaling of the neurotransmitter glutamate. Specifically, TMP-301 modulates the metabotropic glutamate receptor 5, which plays a significant role in the functioning of the central nervous system. This approach aims to offer a novel solution for substance use disorders, a condition impacting 48 million Americans and contributing to over 100,000 deaths annually.

Preclinical models have shown TMP-301 to hold promise in the treatment of opiate, alcohol, and cocaine use disorders. The drug has already undergone testing in approximately 80 healthy individuals as part of a Phase 1 study, marking a crucial step in its development process.

The CEO of Tempero, Ricardo Dolmetsch, emphasized the urgent need for more effective treatments for substance use disorders, highlighting the potential impact of TMP-301 in addressing this significant public health challenge. Despite the resurgence of interest in psychiatric medications in recent years, the availability of novel treatments specifically targeting substance use disorders remains limited. However, recent developments in GLP-1 drugs, which are commonly used for diabetes and weight management, have opened new avenues for research into their potential applications in curbing alcohol use.

The progress made by Tempero Bio reflects a broader resurgence of interest and investment in the biotechnology sector, particularly in areas with significant unmet medical needs. The commitment of investors like 8VC and Aditum Bio underscores the growing confidence in innovative solutions addressing complex health challenges such as addiction. As Tempero Bio advances its clinical trials, the coming years may yield groundbreaking results that could potentially transform the treatment landscape for substance use disorders.