DalCor Pharmaceuticals secures $150 mln in two rounds

DalCor Pharmaceuticals, a Canadian developer of precision treatments for cardiovascular disease, has secured US$100 million ($127 million) in a Series B financing. The investment, which follows a US$50 million Series A round last year, was backed by U.S. venture capital firm Sanderling Ventures and Canadian businessman André Desmarais. They were joined by several new investors, including the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and CTI Life Sciences. With the deal, the Caisse's Stéphane Etroy has joined the company's board. Montréal-based DalCor said the funds raised will support a Phase 3 clinical trial of dalcetrapib, a drug intended to reduce cardiovascular events in a genetically distinct subset of patients.

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