Methylation Sciences Inc., a Vancouver, BC-based clinical-stage pharmaceutical company, raised US$30m in funding.
Quark Venture made the investment through its Global Health Sciences Venture Fund.
The company intends to use the funds to advance development of an oral, small molecule therapy for adjunctive treatment of Major Depressive Disorder (MDD).
Led by Nancy Harrison, President, MSI is developing Strada™ (MSI-195), which is based upon S-adenosyl methionine, a naturally occurring molecule produced throughout the body, where it plays a vital role in the one-carbon cycle. Detailed analysis from the MSI Horizon Phase 2 Trial showed support for clinically significant efficacy for MSI-195 in adjunctive treatment of MDD in a select group of patients. Additionally, MSI-195 showed no serious adverse events and an overall favourable side effect profile relative to marketed antidepressant therapy.