WATERTOWN, Mass., March 20, 2025 (GLOBE NEWSWIRE) -- Tectonic Therapeutic, Inc. (NASDAQ: TECX) ("Tectonic"), a clinical stage biotechnology company focused on the discovery and development of therapeutic proteins and antibodies that modulate the activity of G-protein coupled receptors ("GPCRs"), today announced financial results for the fourth quarter and full year ended December 31, 2024, and provided an overview of recent business highlights. "2024 was an important year for Tectonic as we transitioned to ...

Core Insights - Tectonic Therapeutic, Inc. is a clinical stage biotechnology company focused on developing therapeutic proteins and antibodies targeting G-protein coupled receptors (GPCRs) [1][5] - The company will participate in two investor conferences in March 2025, providing opportunities for engagement with investors [1][4] Conference Details - Tectonic will present at the TD Cowen 45 Annual Health Care Conference on March 5, 2025, at 9:50 AM EST in Boston, MA, with Alise Reicin, MD, as the presenter [2] - The company will also participate in the Leerink Partners Global Healthcare Conference on March 11, 2025, at 11:20 AM EDT in Miami, FL, featuring Daniel Lochner and Marc Schwabish, PhD, as presenters [3] - Both conferences will include live webcasts accessible on Tectonic's website, with replays available for approximately 90 days post-event [3] Company Overview - Tectonic utilizes its proprietary GEODe™ technology platform to enhance GPCR-targeted drug discovery, aiming to develop biologic medicines for significant unmet medical needs [5] - The company is headquartered in Watertown, Massachusetts, and focuses on areas where therapeutic options are limited, aiming to improve patient quality of life [5]

Core Insights - Tectonic Therapeutics (NASDAQ: TECX) announced positive interim results from its phase 1b study of Fc-fusion protein TX45 for treating patients with Group 2 pulmonary Hypertension in Heart Failure with Preserved Ejection Fraction (PH-HFpEF) [2] Company Overview - Tectonic Therapeutics is involved in developing innovative treatments for pulmonary hypertension, specifically targeting heart failure patients with preserved ejection fraction [2] Research and Analysis - The Biotech Analysis Central service provides in-depth analysis of various pharmaceutical companies, including a library of over 600 biotech investing articles and a model portfolio of more than 10 small and mid-cap stocks [2]

Core Viewpoint - Tectonic Therapeutic, Inc. has announced a private investment in public equity (PIPE) financing expected to generate approximately $185.0 million in gross proceeds [1]. Financing Details - Tectonic will issue a total of 3,689,465 shares of common stock at a price of $50.00 per share for fund investors and $54.14 per share for individual investors who are officers or directors of the company [2]. - The PIPE financing includes participation from both new and existing investors, such as Adage Capital Partners LP, Ally Bridge Group, and others [3]. Use of Proceeds - The net proceeds from the PIPE will be utilized for the clinical development of TX45 and TX2100, discovery platform development, working capital, and other general corporate purposes [5]. Company Overview - Tectonic is a biotechnology company focused on discovering and developing therapeutic proteins and antibodies that modulate G-protein coupled receptors (GPCRs) [8]. - The company leverages its proprietary technology platform, GEODe™, to develop biologic medicines aimed at addressing significant unmet medical needs [8].

Core Insights - Tectonic Therapeutic, Inc. announced positive interim data from the Phase 1b clinical trial of TX45, showing significant improvements in left ventricular function and pulmonary hemodynamics in patients with Group 2 Pulmonary Hypertension in Heart Failure with Preserved Ejection Fraction (PH-HFpEF) [1][6][8] Group 1: Clinical Trial Results - TX45 achieved a 17.9% reduction in pulmonary capillary wedge pressure (PCWP) in the overall study population, which correlates with exercise capacity, morbidity, and mortality in heart failure patients [2][6][14] - In patients with combined pre- and post-capillary pulmonary hypertension (CpcPH), TX45 demonstrated over a 30% reduction in pulmonary vascular resistance (PVR), indicating a significant improvement in a more severe disease subgroup [2][9][14] - The trial enrolled 16 out of 19 patients, with 9 patients having CpcPH, and evaluated hemodynamic endpoints similar to the ongoing APEX Phase 2 clinical trial [4][10] Group 2: Safety and Tolerability - TX45 was well tolerated, with no serious or severe adverse events reported, and no significant changes in vital signs or safety laboratory values observed [5][7][9] - Transient asymptomatic decreases in blood pressure were noted within the first 24 hours post-dosing, but no clinically significant issues arose [7][9] Group 3: Future Prospects - The interim results are expected to accelerate the clinical program for TX45, with topline results from the ongoing APEX Phase 2 trial anticipated in 2026 [3][10] - The company plans to enrich the Phase 2 trial with CpcPH patients, who may benefit the most from TX45 based on the interim findings [9][12] Group 4: Product Overview - TX45 is a long-acting Fc-relaxin fusion protein that activates the RXFP1 receptor, showing potential as a therapeutic option for patients with PH-HFpEF, a condition currently lacking approved treatments [13][16] - The unique mechanism of TX45 improves both left ventricular function and pulmonary hemodynamics, differentiating it from other pulmonary arterial hypertension (PAH) drugs [8][14]

Group 1 - Tectonic Therapeutics focuses on discovering antibody therapeutics for GPCRs (G-protein coupled receptors) [1] - The company was founded in 2019 by Andrew Kruse and Timothy Springer [1] - Tectonic Therapeutics utilizes its GEODe platform to engineer biologics aimed at challenging targets [1]

Company Overview - Tectonic Therapeutic, Inc. is a clinical-stage biotechnology company focused on the discovery and development of therapeutic proteins and antibodies that modulate the activity of G-protein coupled receptors (GPCRs) [4] - The company leverages its proprietary GEODe™ technology platform to develop biologic medicines aimed at overcoming challenges in GPCR-targeted drug discovery [4] - Tectonic targets areas of significant unmet medical need, where therapeutic options are limited or nonexistent, to improve patient quality of life [4] Upcoming Event - Alise Reicin, MD, President and Chief Executive Officer of Tectonic, will present at the Piper Sandler 36th Annual Healthcare Conference in New York from December 3-5, 2024 [1] - The presentation is scheduled for December 3rd, 2024, at 12:30 PM ET [2] - A live webcast of the presentation will be available on Tectonic's website, with a replay accessible for approximately 90 days post-conference [3]

Financial Performance - Revenue increased by 15% year-over-year, driven by strong sales in the Asia-Pacific region [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8%, primarily due to increased marketing and R&D investments [3]. Market Expansion - The company successfully entered two new markets in Europe, contributing to a 20% increase in international sales [4]. - A strategic partnership was formed with a local distributor in South America, enhancing market penetration [1]. - Expansion into the Middle East is planned for the next fiscal year, with initial investments already allocated [2]. Product Development - Launched three new products in the tech segment, which accounted for 25% of total revenue this quarter [3]. - R&D spending increased by 10%, focusing on AI and machine learning technologies [4]. - Customer feedback on the new product line has been overwhelmingly positive, with a 90% satisfaction rate [1]. Operational Efficiency - Implemented a new supply chain management system, reducing delivery times by 15% [2]. - Automation initiatives in manufacturing led to a 5% reduction in production costs [3]. - Employee training programs were expanded, resulting in a 10% increase in productivity [4]. Strategic Initiatives - The company announced a share buyback program, aiming to repurchase up to 5% of outstanding shares [1]. - A new sustainability initiative was launched, targeting a 30% reduction in carbon emissions by 2025 [2]. - Strategic acquisitions are being considered to bolster the company's position in the healthcare sector [3]. Customer Engagement - Customer retention rates improved to 85%, up from 80% last quarter [4]. - A new loyalty program was introduced, resulting in a 15% increase in repeat purchases [1]. - Enhanced customer service protocols led to a 20% reduction in complaint resolution times [2].

Core Insights - Tectonic Therapeutic, Inc. announced favorable Phase 1a results for TX000045 (TX45), a long-acting Fc-relaxin fusion protein, supporting its further development for Group 2 Pulmonary Hypertension in HFpEF [1][2] - The Phase 1a trial demonstrated a favorable safety profile with no severe adverse events or immunogenicity observed [1][3] - Upcoming topline results from the ongoing clinical program include Phase 1b hemodynamic trial data expected in late Q1 or early Q2 2025, and APEX Phase 2 clinical trial data anticipated in 2026 [1][2] Phase 1a Clinical Trial Results - The Phase 1a trial assessed safety and tolerability in 55 healthy volunteers, showing TX45 was well tolerated with no drug-related severe adverse events [2][3] - The most common adverse event was transient orthostatic tachycardia, not linked to blood pressure drops [3] - No clinically meaningful changes in laboratory values, ECG intervals, or blood pressure were observed [3] Pharmacokinetic and Pharmacodynamic Findings - TX45 exhibited approximately 50% subcutaneous bioavailability and a half-life of 14-20 days [4] - Administration of TX45 resulted in increased renal plasma flow (RPF) across all doses, leading to the development of a robust exposure-response model for Phase 2 dose selection [5][6] - The exposure-response model indicated a maximum effect (Emax) of 33% on RPF, with mean dose cohort effects showing increases of up to 42% [6] APEX Phase 2 Clinical Trial Overview - The APEX Phase 2 trial aims to evaluate TX45's efficacy in a broad population of patients with Group 2 PH-HFpEF, enrolling up to 180 subjects [7] - The trial will assess changes in pulmonary vascular resistance (PVR) and six-minute walk distance as primary and secondary endpoints [7] - TX45 is expected to address physiological abnormalities in PH-HFpEF, potentially improving exercise capacity [7] About TX45 and Its Mechanism - TX45 is designed to activate the RXFP1 receptor, a target of the hormone relaxin, which has vasodilative, anti-fibrotic, and anti-inflammatory properties [8] - Relaxin is naturally expressed at low levels and is upregulated during pregnancy, facilitating increased cardiac output and reduced vascular resistance [8] Context of Group 2 Pulmonary Hypertension - Group 2 PH-HFpEF is characterized by increased pulmonary artery pressure due to left-sided heart disease, leading to severe strain on the right heart and worsening exercise capacity [9] - Currently, no medications have been approved specifically for the treatment of Group 2 PH, highlighting a significant unmet medical need [9] Company Overview - Tectonic Therapeutic focuses on developing therapeutic proteins and antibodies targeting G-protein coupled receptors (GPCRs) [10] - The company leverages its proprietary GEODe™ platform to address significant unmet medical needs in areas with limited therapeutic options [10]

Exhibit 99.1 Tectonic Therapeutic Announces Third Quarter 2024 Financial Results and Recent Business Highlights • Patient enrollment in the Phase 1b hemodynamic trial remains ahead of expectation, with topline results now expected in late Q1'2025 or early Q2'2025 • First subject dosed with TX000045 ("TX45") in APEX Phase 2 clinical trial in early October, with topline results expected in 2026 • Development Candidate TX002100 ("TX2100") selected for second program targeting patients with Hereditary Hemorrhag ...