Find Therapeutics, a Montreal-based biopharmaceutical company focused on demyelinating diseases, has raised $10 million CAD in Series A extension financing from existing investors CTI Life Sciences, Investissement Québec and adMare BioInnovations.
The funding follows the completion of a Phase I clinical trial of the company’s lead candidate, tasronetide, a peptide designed to target the NRP1/Plexin-A1 receptor complex with the goal of promoting remyelination. According to a company news release, the new funding will be used to support Phase II preparation activities, including a Phase 1b PET imaging study in patients with multiple sclerosis.
In conjunction with the funding, Find Therapeutics named Dr. Thierry Abribat executive chairman of its board of directors to help guide the company through the above clinical development.
