Biopharma Company Vitaeris Raises US$7M in Seed Funding

Vitaeris Inc., a Vancouver, Canada-based clinical-stage biopharmaceutical company focused on innovative applications in chronic inflammatory diseases, closed a US$7m seed financing.

Backers included founding investor HBM Healthcare Investments AG.

The company intends to use the funds to initiate operations and advance the anti-interleukin-6 (IL-6) monoclonal antibody, clazakizumab, into new clinical studies.

Led by newly appointed president and chief executive officer, Kevin Chow, chief medical officer PhD, Dr. Edward Chong, MBChB, MRCP, and chief financial officer John Parkinson, CPA, CA, Viataeris is advancing Clazakizumab, a monoclonal antibody designed to block interleukin-6 (IL-6), which plays a key role in the inflammatory disease cascade.
Clazakizumab has been administered in clinical trials involving over one thousand patients. The therapeutic has not been approved in any indication.

FinSMEs

07/06/2016