Tarveda Therapeutics
The business, the turning points, and the decisions behind them.
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01 / WHAT IT BUILT
What the company did
Tarveda Therapeutics was a Watertown, Massachusetts biotech founded in 2011 that developed miniaturized drug conjugates for solid tumors, designed to penetrate tumors and kill cancer cells, with a focus on neuroendocrine cancers. Backed by investors including Novo Holdings, NEA, Flagship Pioneering and Versant Ventures, it raised over $148 million and advanced its lead programs into Phase 2 clinical trials.
02 / Tarveda Therapeutics FAILURE REASONS
Failure reasons
Tarveda ran out of money with only about three months of cash left, and its investors were unwilling to fund further clinical trials. A planned reverse merger with Organovo, which would have taken the company public, was terminated in April 2020 after Organovo's stockholders rejected it. Unable to secure new financing, Tarveda entered bankruptcy liquidation, completed in April 2022.
03 / EVENT HISTORY
Events in the structured record
- Founded
Tarveda Therapeutics is founded in Watertown, Massachusetts to develop miniaturized drug conjugates for solid tumors.
- Series D and Phase 2
The company closes its Series D and advances lead programs into Phase 2 clinical trials in solid tumors.
- Reverse merger announced
Tarveda announces a reverse merger with Organovo in December 2019 as a path to becoming a public company.
- Merger terminated
Organovo terminates the merger agreement in April 2020 after its stockholders reject the deal; Tarveda is left with roughly three months of cash.
- Bankruptcy liquidation
Tarveda completes bankruptcy liquidation in April 2022.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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