Indel Therapeutics Inc., a Vancouver, Canada-based biopharmaceutical company dedicated to developing new drugs to address the problem of antibiotic resistance, has closed a $1.4m second round of financing.
Investors include Morningside Ventures, MAD Ventures and Quantum Pacific Capital.
The company intends to use the funds to advance several of its antibiotic programs through animal proof of concept. Indel has a pipeline of novel antibiotic drug discovery programs focused on curing difficult to treat and hospital acquired infections.
In connection with the financing, Mr. Allan Collings, a co-founder and principal of ACM Advisors Ltd., has joined the company’s board of directors.