Milestone Pharmaceuticals Inc., a Montreal (Quebec), Canada-based cardiovascular drug development company, completed a $13m round of equity financing.
The round was led by Pappas Ventures, the Business Development Bank of Canada (BDC), and GO Capital, with participation from Fonds de solidarité FTQ, and existing investors iNovia Healthcare Ventures and Fonds Bio-Innovation.
The company intends to use the funds to continue development of MSP-2017 and related products, the company’s lead candidate series for episodic treatment of transient cardiovascular conditions such as paroxysmal supraventricular tachycardia (PSVT), and stable angina, amongst others.
In conjunction with the funding, Eric Linsley, Managing Partner of Pappas Ventures, Scott Weiner, Senior Principal at Pappas Ventures, Dominic Jaikaran, Principal at BDC Health Venture Fund, and Ela Borenstein, Partner of BDC Health Venture Fund will join Milestone’s Board of Directors.
Founded in 2005 the company is led by CEO Philippe Douville.