CTI Life Sciences Fund related stories
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Zymeworks targets $110 mln in Canada's first VC-backed IPO in two yearsZymeworks, a Vancouver biotherapeutics provider, has set the terms of its recently filed initial public offering in Canada and the United States. The event marks Canada’s first venture-backed IPO in two years. Zymeworks, backed by multiple VC and strategic investors, plans to raise as much as $110 million (US$82.8 million) from a sale of as many as 5.2 million common shares at US$13 to US$16 per unit, according to the updated prospectus. As a private company, Zymeworks has secured nearly US$150 million from investors, including the US$61.5 million raised in its Series A mezzanine financing last year.
SutroVax rakes in $60 mln Series BFoster City, California-based SutroVax, a biopharmaceutical vaccine company, has secured $60 million Series B financing. Frazier Healthcare Partners and Pivotal bioVenture Partners led the round with participation from other backers that included Abingworth, Longitude Capital, Roche Venture Fund and CTI Life Sciences Fund. In addition to the funding, Patrick Heron and Tracy Saxton have been appointed to SutroVax's board of directors.
CellAegis Devices raises $12.8 mln in CTI-led Series C roundToronto medical device company CellAegis Devices Inc has secured about $12.8 million (US$9.5 million) in a Series C financing. The round was led by Canadian venture capital firm CTI Life Sciences Fund /canada/2015/1/cti-life-sciences-raises-134-mln-in-first-close-of-fund-ii-boosts-staff/ and co-led by an undisclosed U.S. strategic investor. MaRS Catalyst Fund, Broadview Ventures and several family offices also invested. With the deal, Dr. Shermaine Tilley, a CTI managing partner, and Broadview's Christopher Colecchi have joined the board. CellAegis has developed the non-invasive autoRIC Device, which delivers therapy to patients with cardiovascular conditions. It will use the funds raised to support U.S. clinical testing and commercialization.
- CellAegis picks up $9.5 mln Series C
Toronto-based CellAegis Devices Inc, a medical device company, has raised $9.5 million in Series C financing. The investors included CTI Life Sciences Fund, MaRS Catalyst Fund and Broadview Ventures. In addition to the funding, Dr. Shermaine Tilley, managing partner at CTI Life Sciences Fund and Christopher Colecchi of Broadview Ventures, have been added to CellAegis Devices' board of directors.
- Top 2016 Canadian VC deals rake in more than $1.1 bln
Canada’s top 10 venture-capital financings in 2016 drew more than $1.1 billion from investors, more than twice the $534 million that went into the top 10 deals in 2015. That number is based on PE Hub Canada's list of the largest deals announced last year, supplemented by preliminary Thomson Reuters data. The list is headed by BlueRock Therapeutics, Thalmic Labs, DalCor Pharma and Real Matters, which were responsible for the biggest crop of $100 million-plus financings in Canada since the dot.com era.
Top Q3 Canadian VC deals collect fewer dollars, despite Thalmic LabsCanada’s top 10 third-quarter venture financings attracted more than $329 million from investors, down 30 percent from the $470 million that went into the top 10 deals in the same quarter a year ago. The estimate is based on PE Hub Canada's list of the largest deals announced from July through September, and preliminary data from Thomson Reuters. The quarterly data suggest a possible slowing of momentum in Canada's venture market, compared with the robust activity reported in the year's first half.
Servier, VCs invest $21 mln to create new Québec biotech startupThe Fonds de solidarité FTQ, CTI Life Sciences Fund and the Canadian affiliate of French pharmaceutical company Servier have invested $21 million to help launch a new biotechnology startup, Ilkos Therapeutics. Based in Laval, Québec, Ilkos will focus on the clinical development of an oral treatment for venous lower limb ulcers. Servier granted an exclusive licence to the company to pursue the project and will oversee it through Servier Canada's Centre of Excellence in Clinical Research. Ilkos' board will be chaired by Canadian healthcare executive Mark Beaudet. The Fonds' Danny Gagné, CTI's Jean-François Leprince, and Servier's Frédéric Fasano will take seats on the board.
Data spotlight: DalCor leads top Q2 Canadian VC dealsBuilding on the robust activity of the preceding quarter, the top 10 Canadian deals raised about $347 million in Q2