PhoenixMD secures $2.7 mln to advance cancer treatment
Vancouver-based biotechnology company Phoenix Molecular Designs (Phoenix MD) has raised $2.7 million in financing. The round included $2 million of equity, led by Canadian venture capital firm Pallasite Ventures with participation from new and existing angel investors, and about $670,000 in non-dilutive capital. As a result, Pallasite Managing Partner Chris Bissonnette joined the board. Founded in 2012 by CEO Sandra Dunn, Phoenix MD is developing small molecule kinase inhibitors as a targeted therapy for cancer, with a focus on triple-negative breast cancer. It will use the funds raised to advance its lead asset, PMD-026, a disease-modifying therapeutic treatment.
19 September 2018•4 mins read
