Repost from www.univalor.ca
Allostera Pharma inc. closed $17M (CAD) Series A financing.
Allostera Pharma Inc. announced yesterday that “it has secured a Series A financing of $17 million.
Four venture funds participated: iNovia Capital, Genesys Capital, BDC Venture Capital with GO Capital, and Fonds Bio-Innovation s.e.c. The proceeds of the financing will be used for the development of Allosteramers™, a new class of drugs developed by Allostera scientists that are both highly specific for their targets and designed to be orally bioavailable. Additionally with these proceeds, Allostera plans to complete preclinical studies and begin human clinical testing of its lead Allosteramer™, APG2305, a novel drug candidate for treating autoimmune diseases like psoriasis that has demonstrated oral activity in animals. The specific terms of the Series A preferred share financing were not disclosed.”
To read the press release, please click here.
Congrats to Anne-Marie, Hélène and Marc for this great job!
