Qu Biologics Inc., a Vancouver, British Columbia, Canada-based biotechnology company developing Site Specific Immunomodulators (SSIs) that aim to restore the body’s normal immune response, closed an oversubscribed private financing of CDN$3.5m.
Backers were not disclosed.
The company, which has raised $19m to date, intends to use the funds to expand its clinical presence by initiating a randomized, controlled clinical trial in in Crohn’s disease, ulcerative colitis and recurrent lung cancer in 2016.
Led by CEO Dr. Hal Gunn, Chief Medical Officer Dr. Simon Sutcliffe, and Chief Scientific Officer Dr. David Mullins, Qu Biologics develops Site Specific Immunomodulators (SSIs), a novel class of immunotherapies that aim to restore the body’s normal immune response. SSIs are designed to stimulate an immune response in targeted organs or tissues to potentially reverse the chronic inflammation underlying many conditions including cancer and immune-related disease.