CTI Life Sciences Fund

Toronto-based Phenomic AI, developer of a drug discovery platform, has raised US$6 million in seed financing.

Find Therapeutics, a Montreal-based drug discovery and development company, has been launched by Canadian venture capital firm CTI Life Sciences and its partners adMare BioInnovations, Domain Therapeutics and PeptiMimesis Pharma.

Canadian big data warehouse company PHEMI Inc has raised $10 million in follow-on financing. CTI Life Sciences Fund, BDC Capital and Yaletown Partners, which participated in PHEMI’s $12.2 million Series A financing in 2015, co-led the latest round. They were joined by new investors Quark Venture and GF Securities Co Ltd. Founded in 2013, PHEMI helps data-driven businesses in life sciences and other sectors to unlock and share information without compromising privacy.

Vancouver big data warehouse company PHEMI Inc has raised $10 million in follow-on financing. CTI Life Sciences Fund, BDC Capital and Yaletown Partners, which participated in PHEMI's $12.2 million Series A financing in 2015 /canada/?p=320985 co-led the latest round. They were joined by new investors Quark Venture and GF Securities Co Ltd. Founded in 2013, PHEMI helps data-driven businesses in life sciences and other sectors to unlock and share information without compromising privacy. Led by CEO Paul Terry, the company will use the funds raised to expand commercialization through expanded sales and marketing and outreach into emerging vertical markets.

Shermaine Tilley, a managing partner at CTI Life Sciences Fund, and Dion Madsen, a senior managing partner at BDC Capital, have left the board of directors of Zymeworks Inc (NYSE, TSX: ZYME). The resignations, which also included Eli Lilly & Co's Kerry Blanchard, follow Zymeworks' initial public offering in Canada and the United States, which wrapped up earlier this month /canada/2017/5/3451188/ Vancouver-based Zymeworks, a biotherapeutics provider, went public after raising nearly /canada/2017/4/vc-backed-zymeworks-targets-110-mln-from-tsx-nyse-ipo/ US$150 million from a mix of venture capital and strategic investors.

Toronto 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.

The 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.

Shermaine 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.

Strasbourg, France and Montreal-based biopharmaceutical company Domain Therapeutics has raised $42 million in Series A financing.

Epitopea, a Cambridge, UK and Montreal-based cancer immunotherapeutics company, has secured $13.6 million in seed financing.

Fonds de solidarité FTQ has invested $5 million in IMV Inc (TSX, Nasdaq: IMV), a clinical-stage biopharmaceutical company with offices and labs in Halifax and Québec City. The investment forms part of a $29.5 million public offering announced this week. The Fonds, a Canadian growth capital provider, has to date invested $10.75 million in the company. IMV will use the offering's proceeds mainly to accelerate development of new immunotherapies for people facing cancer using its drug release platform DPX-Survivac. Founded in 2000 and led by CEO Frédéric Ors, IMV is also backed by Canadian life sciences venture capital firm CTI Life Sciences Fund.

Swiss clinical-stage biotechnology company Therachon AG has acquired GLyPharma Therapeutic Inc, a Montréal-based developer of a drug for short bowel syndrome and other rare gastrointestinal diseases. Terms weren't disclosed. With the deal, Therachon acquires the rights to apraglutide, originally discovered by Ferring Pharmaceuticals and licensed to GLyPharma. Since its launch in 2012, GLyPharma has been backed by Canadian life sciences venture capital firm CTI Life Sciences Fund, Ferring and Fonds de solidarité FTQ. In August, Therachon raised a US$60 million financing led by Novo Holdings and joined by multiple other investors.

Otsuka has closed its previously announced acquisition of Visterra, a developer of antibody-based therapies for the treatment of patients with kidney diseases and other hard-to-treat diseases, for about $430 million in cash. Visterra's backers included Polaris Partners, Flagship Pioneering, the Bill and Melinda Gates Foundation, MRL Ventures Fund, Vertex Ventures HC, Temasek Holdings, Lux Capital, Alleghany Financial Group Ventures, CTI Life Sciences Fund and Alexandria Equities.

Otsuka has agreed to acquire Visterra, a developer of antibody-based therapies for the treatment of patients with kidney diseases and other hard-to-treat diseases, for about $430 million in cash. The deal is expected to close in the third quarter of this year. Visterra is backed by Polaris Partners, Flagship Pioneering, the Bill and Melinda Gates Foundation, MRL Ventures Fund, Vertex Ventures HC, Serum Institute of India Private Ltd., Temasek Holdings, Omega Funds, Cycad Group, Lux Capital, Alleghany Financial Group Ventures, CTI Life Sciences Fund and Alexandria Equities.

Foster City, California-based SutroVax, a biopharmaceutical company, has secured $85 million in Series C financing. TPG Growth led the round with participation from other investors that included Medicxi, Foresite Capital, Abingworth, Longitude Capital, Frazier Health Care Partners, Pivotal bioVenture Partners, Roche Venture Fund and CTI Life Sciences Fund.

Fonds de solidarité FTQ has invested $5.75 million in Immunovaccine Inc (TSX: IMV), a clinical-stage biopharmaceutical company with offices and labs in Halifax and Québec City. The investment was made through a $14.4 million bought deal offering closed last week. Founded in 2000, Immunovaccine develops cancer immunotherapies and infectious disease vaccines using DepoVax, a proprietary drug release platform. Led by President and CEO Frédéric Ors, the company will use the funds raised for R&D to further advance its product pipeline. Immunovaccine's other Canadian investors include CTI Life Sciences Fund.