CTI Life Sciences Fund related stories
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Xagenic scores Series B fundsToronto-based molecular diagnostics company Xagenic has secured C$15 million in Series B funding. The investors included Domain Associates, CTI Life Sciences, BDC Capital and the Ontario Capital Growth Corporation.
Teralys Capital puts $50 mln to work in second CTI Life Sciences fundTeralys Capital has committed $50 million to the first close of CTI II, the second life sciences fund of Canadian venture capital firm CTI Life Sciences. As reported by peHUB Canada, the firm raised $134 million /canada/2015/01/15/cti-life-sciences-raises-134-mln-in-first-close-of-fund-ii-boosts-staff/ of a targeted $150 million for its fund. Other investors in CTI II included the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and BDC Capital. The Montréal-based Teralys last November secured $279 million /canada/2015/01/12/and-harbourvest-makes-four-how-vcap-funds-plan-to-renew-canadian-vc/ in the initial close of its second investment vehicle, Teralys Capital Innovation Fund.
- CTI Life Sciences collects C$134 mln for second venture fund
Montreal-based CTI Life Sciences has raised C$134 million in the first close of its second venture fund. The pool's limited partners include Teralys Capital and BDC Capital via the Government of Canada's Venture Capital Action Plan. CTI II will invest mostly in biotherapeutics.
MDCC nabs venture professional Richard Meadows as COOThe Medical Devices Commercialization Centre (MDCC), an Ottawa-based agency focused on commercializing medical devices innovation, has named Richard J. Meadows as its first COO. Meadows was previously a managing partner at Canadian venture capital investor CTI Life Sciences Fund. Prior to then, he worked at the Caisse de dépôt et placement du Québec and held senior executive positions in several life sciences companies. MDCC recently secured operational funding from the Canadian government.
Fonds de solidarité FTQ invests $4 mln in biotherapeutics startup ZymeworksThe Fonds de solidarité FTQ has made a $4 million equity investment in Zymeworks Inc, a developer of best-in-class protein therapeutics for the treatment of cancer, autoimmune and inflammatory diseases. Based in Vancouver, the company has significant research activities in Québec. It is currently developing several antibody therapeutics in the field of oncology with anticipated IND filings beginning in 2016. Established in 2003, Zymeworks is also backed by Advanced Biotechnologies Venture Fund and CTI Life Sciences Fund. Earlier this year, the company announced it had raised /canada/2014/11/03/vc-backed-zymeworks-closes-private-placement-at-17-3-mln/ $17.3 million in funding from a mix of new and existing investors.
VC-backed Zymeworks closes private placement at $17.3 mlnBiotherapeutic company Zymeworks Inc recently closed its previously announced funding at a gross amount of around $17.3 million. The investment came from a mix of new and existing backers. Zymeworks’ venture capital investors include Advanced Biotechnologies Venture Fund and CTI Life Sciences Fund. Concurrent with the deal announcement, Zymeworks said it has expanded http://www.zymeworks.com/ a strategic collaboration with Eli Lilly and Co (NYSE: LLY) to develop novel bi-specific antibody therapeutics using its platform. The potential US$375 million partnership will include an equity investment by Eli Lilly in the Vancouver-based company.
Venture-backed Xagenic picks Timothy Still as new president and CEOXagenic Inc has named Timothy I. Still as its new president and CEO. He will also serve on the company's board of directors. Still previously led Accumetrics Inc, a U.S.-based point-of-care test manufacturer acquired by ITC Nexus Holding Co in 2013. Based in Toronto, Xagenic is the developer of a fully-automated molecular diagnostic platform that will enable lab-free testing. It is backed by a number of Canadian and U.S. venture capital firms, including BDC Capital, CTI Life Sciences Fund, Domain Associates and Ontario Capital Growth Corp.
VC-backed Xagenic receives project funding from Genome CanadaMolecular diagnostics company Xagenic Inc has secured $6 million from Genome Canada for a project being done in partnership with the University of Toronto. The project, which is supported by a matching grant from the Ontario Ministry of Research and Innovation, will develop lower-cost technology for Hepatitis C testing. In July, the Toronto-based Xagenic announced /canada/2014/07/14/bdc-capital-tops-up-xagenics-25-5-mln-series-b-dion-madsen-join-board/ the $25.5 million second close of its Series B financing round. Venture capital firms investing in the round included BDC Capital, CTI Life Sciences Fund, Domain Associates and Ontario Capital Growth Corp.
BDC Capital tops up Xagenic's $25.5 mln Series B, Dion Madsen join boardXagenic Inc has completed a $25.5 million second close of its Series B financing round. The new investor is Canadian venture capital firm BDC Capital, which joins earlier /canada/2013/12/02/molecular-diagnostics-startup-xagenic-nabs-20-mln-series-b-financing/ Series B investors CTI Life Sciences Fund, Domain Associates and Ontario Emerging Technologies Fund. BDC senior managing partner Dion Madsen, who was interviewed /canada/2013/10/07/rebooting-healthcare-venture-capital-investing-life-sciences-takes-new-direction/ by peHUB Canada last October, has taken a seat on Xagenic's board of directors. Based in Toronto, the company is a molecular diagnostics specialist developing the first lab-free molecular diagnostic platform. Xagenic is currently focused on its development program in anticipation of an analytical and clinical study start later in 2014.
- BDC Capital tops up Xagenic's $25.5 mln Series B, Dion Madsen join board
Xagenic Inc has completed a $25.5 million second close of its Series B financing round. The new investor is Canadian venture capital firm BDC Capital, which joins earlier /canada/2013/12/02/molecular-diagnostics-startup-xagenic-nabs-20-mln-series-b-financing/ Series B investors CTI Life Sciences Fund, Domain Associates and Ontario Emerging Technologies Fund. BDC senior managing partner Dion Madsen, who was interviewed /canada/2013/10/07/rebooting-healthcare-venture-capital-investing-life-sciences-takes-new-direction/ by peHUB Canada last October, has taken a seat on Xagenic's board of directors. Based in Toronto, the company is a molecular diagnostics specialist developing the first lab-free molecular diagnostic platform. Xagenic is currently focused on its development program in anticipation of an analytical and clinical study start later in 2014.