MSI Methylation Sciences, Inc., a Vancouver, British Columbia Canada-based company focused on developing S-Adenosyl Methionine (SAMe), a prescription drug used as a dietary supplement, has raised €13.5m (CDN$19m) in a Series A financing.
The round was led by Inventages, with participation from existing investors Working Opportunity Fund (EVCC) Ltd., managed by GrowthWorks, BC Advantage Funds and local angel investors.
The company intends to use the funds to take S-Adenosyl Methionine into formal clinical development.
Founded in 2007 and led by CEO and President Barry Guld, MSI focuses on the development of these formulations for the treatment of depression.
In conjunction with the funding, Gunnar Weikert, Chairman of Inventages, has joined the Board of the company.