Thetis

Thetis Pharmaceuticals

Business Description

A development stage company founded in January 2011, Thetis Pharmaceuticals LLC (Thetis) is developing a potential 2nd generation metformin with improved efficacy and reduced side effects for the oral treatment of Type 2 diabetes.

Background

The intellectual property for Thetis' primary drug candidate was invented by ex-Pfizer scientists who approached Carter Morse & Mathias to form Thetis, develop the business plan, establish the corporate infrastructure, and raise first round capital.

Solution

An affiliate of Carter Morse & Mathias co-invested with the founding scientists to establish Thetis and consummated a private placement to provide start-up capital. A principal of Carter Morse & Mathias is serving as a board director and acting CFO of the company.