Inversago Pharma, Inc., a Montreal, Canada-based preclinical-stage biotech company, secured a $7m Series A financing.
The round was co-led by Genesys Capital and Amorchem, with participation from the JDRF T1D Fund, Accel-Rx, Anges Québec Capital, Anges Québec, Tarnagulla Ventures and angel investors.
The company intends to use the funds to advance its peripherally-restricted CB1 inverse agonist/antagonist program into clinical trials.
Led by François Ravenelle, Chief Executive Officer and Founder, Inversago develops new generations of peripherally-restricted cannabinoid-1 receptor (CB1) inverse agonists/ antagonists for the treatment of Prader-Willi Syndrome (PWS), type 1 diabetes (T1D), obesity and other metabolic disorders such as non-alcoholic steatohepatitis (NASH).
The company’s technology, based on the work by CB1 world expert George Kunos at the National Institute of Health (NIH/NIAAA), has demonstrated that in preclinical models, peripherally restricted CB1 blockade provides a clear therapeutic potential to treat conditions like obesity, NASH, liver fibrosis and diabetes, without causing the CNS or behavioural effects associated with the earlier generations of CB1 blockers.