Milestone Pharmaceuticals Inc., a Saint-Laurent, Canada-based clinical stage cardiovascular company in Phase 2, closed a US$17m Series B financing.
The round was led by Domain Associates with participation from existing investors Fonds de solidarité FTQ (FSTQ), Pappas Ventures, BDC Capital, GO Capital, and iNovia Capital. In connection with this financing, Domain’s Debra Liebert will join Milestone’s board of directors.
The company intends to use the funding to complete Phase 2 clinical development of MSP-2017.
Led by Philippe Douville, Chief Executive Officer, Milestone develops MSP-2017, a novel short-acting calcium channel antagonist for the treatment of Paroxysmal Supraventricular Tachycardia (PSVT), a potentially debilitating cardiac arrhythmia. The product is being developed as a patient self-administered intranasal spray to terminate PSVT at the onset of episodes and is currently in Phase 2.