Inversago Pharma Inc., a Montreal, Canada-based peripheral CB1 blockade company, secured a US$35m (€32m) Series B financing.
The round was led by Forbion, with co-investment from the Fonds de solidarité FTQ, and participation from existing investors Genesys, JDRF T1D Fund, Amorchem, Anges Québec Capital, adMare BioInnovations and angels. In conjunction with this financing, Inversago appointed Carlo Incerti, MD, an Operating Partner at Forbion, as Chairman of the board of directors, Marco Boorsma, PhD, a General Partner at Forbion, and Patricia Allen, a biotech leader, as directors of the company. Ms. Allen will also serve as Chair of the Audit Committee.
The company intends to use the funds to develop its peripherally-acting CB1 inverse agonist candidate INV-101 to clinical proof-of-concept, and advance the research on other selected compounds.
Led by François Ravenelle, PhD, CEO and founder, Inversago Pharma is a preclinical-stage, biotech company specialized in the development of new therapies focusing on CB1 blockade, based on first-in-class, peripherally-acting, CB1 inverse agonists. The company aims to provide new treatment options that improve the lives of patients affected by metabolic conditions such as Prader-Willi Syndrome (PWS), non-alcoholic steatohepatitis (NASH), type 1 diabetes (T1D) and diabetic nephropathy.