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Top Q2 Canadian VC deals land more than $446 mlnCanada’s top 10 second-quarter venture-capital financings attracted more than $446 million from investors, up 60 percent from the $279 million that went into the top 10 deals a year ago. That estimate is based on PE Hub Canada's list of the largest rounds announced between April and June. It is headed by DalCor Pharma and Real Matters, which accounted for the two largest Canadian tech financings since 2013.
Venture pro Shermaine Tilley joins Immunovaccine's boardShermaine Tilley, a managing partner at CTI Life Sciences Fund, has been nominated to serve on the board of Immunovaccine Inc (TSX: IMV), a Halifax-based developer of cancer immunotherapies and infectious disease vaccines. Tilley joined CTI, a Montréal-based venture capital firm, at its inception in 2006. She was previously a senior vice president at Canadian private equity firm DRI Capital. CTI was an investor in the $127 million Series B financing /canada/2016/5/dalcor-pharma-and-canadas-unsung-life-sciences-boom/ raised by DalCor Pharmaceuticals in April.
Top Q1 Canadian VC deals draw more than $416 mlnCanada’s top 10 first-quarter venture-capital financings drew more than $416 million from investors, more than double the $191 million that went into the top 10 deals a year earlier. That estimate is based on a PE Hub Canada list of the largest disclosed financings announced between January and March. It has been compiled in advance of the broader VC market reports expected in coming weeks from the Canadian Venture Capital & Private Equity Association and Thomson Reuters.
Zymeworks nets $61.5 mln in Series A round led by BDC, LumiraVancouver-based Zymeworks, a biotherapeutics company, has raised US$61.5 million in Series A mezzanine financing. BDC Capital and Lumira Capital led the round with participation from other investors that included Eli Lilly and Co, Celgene, CTI Life Sciences Fund, the Fonds de solidarité FTQ, Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund, Brace Pharma Capital and Merlin Nexus. With the round, Dion Madsen, a senior managing partner at BDC Capital, will join Zymeworks’ board of directors, while Dr. Daniel Hétu, a managing director at Lumira Capital, will become an observer. The round's proceeds will support clinical development of Zymeworks' lead therapeutic candidates.
Zymeworks scores $61.5 mln Series AVancouver, British Columbia-based Zymeworks, a biotherapeutics company, has raised $61.5 million in Series A funding. BDC Capital and Lumira Capital led the round with participation from other investors that included Eli Lilly and Company, Celgene, CTI Life Sciences Fund, the Fonds de solidarité FTQ. Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund, Brace Pharma Capital and Merlin Nexus. In addition to the funding, Dion Madsen, a senior managing partner at BDC Capital’s healthcare venture fund, has been added to Zymeworks’ board of directors while Dr. Daniel Hétu, a managing director at Lumira Capital, will become an observer.
- PHEMI Systems raises $12.2 mln
British Columbia Discovery Fund (VCC) Inc. had co-led a $12.2 million venture financing round for PHEMI Systems Corp. Existing investors BDC Capital and Yaletown Venture Partners as well as new investor CTI Life Sciences Fund also participated. British Columbia Discovery has invested $1.5 million into PHEMI, a Vancouver, British Columbia-based big data warehouse company.
- CTI and Discovery Capital back PHEMI
Vancouver, British Columbia-based PHEMI, a big data warehouse company, has secured C$12.2 million in funding. CTI Life Sciences Fund and British Columbia Discovery Fund led the round with participation from other investors that included BDC Capital Healthcare Venture Fund and Yaletown Venture Partners.
- Abingworth leads $22 mln Series A funding in SutroVax
Abingworth led a $22 million Series A funding in SutroVax, a biopharmaceutical vaccine company. Other participants in the funding include Longitude Capital, Roche Venture Fund and CTI Life Sciences Fund.
CTI Life Sciences invests in $22 mln Series A funding of SutroVaxU.S. biopharmaceutical vaccine startup SutroVax has received US$22 million in a Series A financing. The round was led by U.K. venture capital firm Abingworth and was joined by Canadian firm CTI Life Sciences, Longitude Capital and Roche Venture Fund. Based in San Francisco, the recently-established SutroVax is developing vaccines for infectious disease targets. It said it plans to use the proceeds of the investment to advance multiple vaccines in its pipeline through pre-clinical proof of concept. In January 2015, the Montréal-based CTI Life Sciences raised $134 million in the initial close of its second fund /canada/2015/01/15/cti-life-sciences-raises-134-mln-in-first-close-of-fund-ii-boosts-staff/ CTI II, which is targeted to bring in $150 million.
Molecular diagnostics company Xagenic nets $15 mln in new fundingToronto-based molecular diagnostics company Xagenic Inc has secured a total of $15 million in follow-on funding. Each of the Canadian and U.S. investors in Xagenic's Series B financing, which had a second close at $25.5 million /canada/2014/07/14/bdc-capital-tops-up-xagenics-25-5-mln-series-b-dion-madsen-join-board/ in July 2014, participated in the latest round. They included: Domain Associates, CTI Life Sciences Fund, BDC Capital and the Ontario Capital Growth Corp. Xagenic President and CEO Timothy I. Still said the new capital injection will help "accelerate our development efforts in bringing our point-of-care diagnostic platform to market.” The company was founded in 2010.