viDA Therapeutics Inc., a Vancouver, Canada-based biotechnology company, completed a $750k second tranche of an equity financing.
Backers included the Business Development Bank of Canada’s venture capital arm BDC Venture Capital.
This latest funding brought the total amount raised by the company in the round at $3.64m. The initial financing was completed on July 28, 2011.
The company intends to use the proceeds for continued preclinical investigation of its lead compound as a treatment for chronic dermatological inflammatory conditions, as well as for continued discovery and development of a suite of additional novel, small molecule, granzyme inhibitors designed for multiple routes of administration to treat the broad range of degenerative and inflammatory diseases in which extracellular granzymes participate.
A patent filing for a series of novel, small molecules that target inhibition of Granzyme B was completed on March 29, 2013.
viDA Therapeutics is led by Alistair Duncan, President and CEO.