Printer Friendly

AmacaThera receives CAD3.25m for Phase I trial of its proprietary drug delivery technology.

M2 EQUITYBITES-January 14, 2019-AmacaThera receives CAD3.25m for Phase I trial of its proprietary drug delivery technology

(C)2019 M2 COMMUNICATIONS http://www.m2.com

Drug delivery company AmacaThera reported on Friday the receipt of CAD3.25m in seed financing from Sprout BioVentures, Viva Biotech, Grey Sky Venture Partners as well as additional investors.

The fund raised in this round will be used to advance the company's drug delivery platform technology through Phase I clinical proof-of-concept. Its proprietary technology is expected to allow sustained and controllable release of diverse therapeutic agents from injectable, biocompatible hydrogels. The company's first product, AMT-143, targets superior post-operative pain control with the goal of eliminating opioid use following surgery.

In conjunction, one of the key scientists involved in this drug delivery research, Dr Mike Cooke, will serve as the CEO of the new company.

Following the first closing, the company is currently in discussions with additional investors and angels for a second closing, which is anticipated in the coming months.

(USD1=CAD1.32872)

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2019 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Jan 14, 2019
Words:179
Previous Article:Farmland Partners redeems 985,273 OP units to common stock.
Next Article:JetSmarter offers private jet serve to Atlanta for February 3 game.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |