KalGene Pharmaceuticals, Inc., a Montreal and Toronto, Canada-based pre-clinical stage company, closed a Series A financing of undisclosed amount.
The round was was led by Lumira Capital with participation from Anges Québec, Anges Québec Capital, Accel-Rx Health Sciences Accelerator and a number of Canadian family offices. In addition to the equity financing, the company has also received financial support from Foundations focused on neurodegenerative diseases.
KalGene intends to use the funds for the advancement of its lead Alzheimer’s therapeutic program.
Led by Dr. T. Nathan Yoganathan, President and Chief Scientific Officer, the company focuses on the development of precision medicine therapeutics to slow the progression of Alzheimer’s disease. Its lead, KAL-ABP, targeting toxic amyloid beta oligomers, has been shown in animal models of Alzheimer’s Disease to cross the blood-brain barrier and to reduce the plaque burden, leading to improved cognition and neuronal connectivity.