Montréal-based biopharmaceutical company Laurent Pharmaceuticals Inc has raised an undisclosed financing. The round was led by Keiretsu Forum Mid-Atlantic, Anges Québec and Anges Québec Capital. They were joined by RSJ Gradus, Aligo Innovation, Cystic Fibrosis Canada and other investors. President and CEO Radu Pislariu said the funds raised will help the company build on progress made developing LAU-7b, a first-in-class, pro-resolving drug for treating cystic fibrosis. Laurent was founded in 2012 in a partnership between MSBi Valorisation, McGill University and McGill University Health Centre.
4 min read · 25 October 2018
4 min read · 25 October 2018
Montréal-based cardiovascular drug developer Milestone Pharmaceuticals has raised $80 million in its latest financing. U.S. life sciences investment firm RTW Investments led the round. It was joined by other new investors, including Venrock Healthcare Capital Partners and Tavistock Group, and existing investors, including Novo Holdings A/S, Forbion Capital Partners, Tekla Capital Management, Domain Associates, BDC Capital, Pappas Capital, GO Capital and Fonds de solidarité FTQ. Milestone will use the funds raised for its Phase 3 clinical program, pre-launch activities of etripamil, a new drug for treating paroxysmal supraventricular tachycardia, and expanding its pipeline. Led by President and CEO Joseph Oliveto, Milestone closed a $68 million Series C round last year.
4 min read · 25 October 2018
Spatial, a New York-based augmented reality software provider, has raised US$8 million in a seed-stage financing. The round's investors included iNovia Capital, a Canadian early-stage venture capital firm, as well as Expa's Garrett Camp, Samsung Next, Joi Ito, Mark Pincus and Andy Hertzfeld. The funds raised will support the launch of Spatial's cross-reality collaboration platform, which creates 3D work spaces and connects users remotely using lifelike avatars. Spatial was founded in 2016 by CEO Anand Agarawala and CPO Jinha Lee.
3 min read · 25 October 2018
Sporting Life Inc, a Toronto-based sports and lifestyle retailer, has merged with Golf Town Ltd, a Vaughan, Ontario-based golf apparel and equipment retailer, creating Sporting Life Group Ltd. Terms weren't disclosed for the deal, which will see Sporting Life and Golf Town maintain their brands and operate separately, but jointly invest in staffing, supply chains and technology. Fairfax Financial Holdings and a unit of CI Investments acquired Golf Town in 2016. The company had begun creditor protection proceedings. Fairfax, a holding company led by Canadian billionaire Prem Watsa, was also an owner of Sporting Life. It will remain an investor in the new entity.
4 min read · 24 October 2018
Canadian family office Tricor Pacific Capital has launched a new strategy to make control investments in mid-market companies in light manufacturing, business and consumer services, and specialty retail. Tricor will focus on investing in businesses with EBITDA of $2 million to $6 million in the Western regions of Canada and the United States. Deals will typically involve successions, management buyouts or recapitalizations. Principals Mark Townsend, formerly of Founders Group of Food Companies, and Chuck Cosman, formerly of Lululemon Athletica, will lead the strategy. Vancouver's Tricor invests on behalf of the family and partners of Rod Senft, a veteran Canadian private equity professional.
3 min read · 24 October 2018
Mill Street & Co has acquired the remaining shares of The Fastway Group, a North York, Ontario-based supplier of building and construction products to the construction, trades and industrial markets. No financial terms were released. Mill Street, a Canadian private investment firm, first bought into Fastway in 2016. Tom Siklos has assumed the role of president and CEO of Fastway. The company's founder, Geoff Reed, will take on the role of vice president, development, at Mill Street. Earlier this year, Crown Capital Partners provided a 10-year loan of $10 million to Mill Street.
2 min read · 24 October 2018
Fredericton-based cyber-risk management platform Beauceron Security has raised $1.5 million in a second seed-stage financing. The round was led by New Brunswick Innovation Foundation (NBIF) and joined by Opportunities New Brunswick, Mariner Partners, East Valley Ventures, First Angel Network, CyLon and angel investors. Founded in 2016 and based on technology developed at the University of New Brunswick, Beauceron offers a cloud-based platform that helps organizations measure, monitor and remediate security threats. Led by CEO David Shipley, the startup will use the funds raised to build out its product roadmap, increase sales and marketing, and recruit new partners.
3 min read · 24 October 2018
Filld, a Mountain View, California-based last-mile mobile fueling company, has raised US$15 million in a Series B financing. Parkland Fuel Corp, a Canadian marketer of fuel and petroleum products, co-led the round with Calibrate Ventures. Existing venture capital investors also participated. As a result, Parkland USA President Doug Haugh joined the board. Filld, founded in 2015, will use the funds raised for market expansion, extending its services, and enhancing its technology platform and connected architecture.
4 min read · 24 October 2018
Verano Holdings LLC, a Chicago-based operator of cannabis cultivation, manufacturing and retail facilities, has launched with US$120 million of financing. Serruya Private Equity (SPE) joined the deal and is supporting Verano's acquisition of 3 Boys Farms LLC, a U.S. medical cannabis cultivator, processor and dispenser. Verano is buying 3 Boys Farms from Scythian Biosciences Corp via a share exchange valued at US$100 million. Scythian, a Toronto-based cannabis company, also agreed to commit US$88 million to the financing. SPE invests on behalf of Canada’s Serruya family.
8 min read · 24 October 2018
