Date: 2016-02-01
Type of information: Financing round
Company: Modulate Therapeutics (Canada)
Investors: TVM Life Science VII (Canada) Eli Lilly (USA - IN)
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Planned used: Montréal-based Modulate Therapeutics plans to develop, to proof-of-concept, the compound IMM-01 that is designed to re-engage the immune system in order to recognize and eradicate neoplastic disease. The company will explore the development of a nanolipogel formulation that targets the delivery of nano-doses of both a TGF beta inhibitor combined with Interleukin 2 at the site of the tumor growth, potentially synergizing with immune oncology checkpoint inhibitors and aims to further increase response rates and overall survival for patients with certain types of cancer. To date, IMM-01has completed pilot animal studies with the goal to begin GLP toxicology studies and file an Investigational New Drug (IND) application in 2016 and 2017 respectively. If the IND is approved, IMM-01 will be tested in single ascending dose study in cancer patients and, if appropriate, in a multiple ascending dose study eventually leading to a clinical proof of concept (POC) in patients suffering from different cancer indications. Brian Horsburgh and Mark Cipriano act as CEO and CFO respectively for Modulate Therapeutics.
Others: * On February 1, 2016, TVM Life Science Ventures VII announced the fund’s ninth investment – establishing Modulate Therapeutics Inc., a company based in Montréal, Québec. This is the ninth investment for TVM Life Science Ventures VII, a venture capital fund domiciled in Montréal, Québec, which follows a new, capital-efficient investment approach to developing pharmaceutical assets to human proof-of-concept in single-asset companies. TVM Life Science Ventures VII is a unique collaboration between TVM Capital Life Science and numerous limited partners, including Eli Lilly and Company. The goal is to finance and access innovation while managing risk and sharing reward.
Therapeutic area: Cancer - Oncology
