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news.Cytochroma, a clinical stage specialty pharmaceutical company, has announced the closing of a C$45 million series C financing.
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The financing was led by a new investor, Mitsubishi Tanabe Pharma and supported by a number of existing investors including Vengrowth Advanced Life Sciences Fund, Caisse de Depot et Placement du Quebec, Novo, Canadian Medical Discoveries Fund, T(2)C(2)/Bio 2000 Limited Partnership, GrowthWorks Canadian Fund, BDC Capital and VentureLink Brighter Future Fund.
The new funding will be used to advance Cytochroma’s portfolio of vitamin D-based therapeutics into mid- and late-stage clinical trials.
Cytochroma’s product candidates are said to target disorders related to altered vitamin D metabolism in chronic kidney disease patients, and include CTA018 and CTAP201 for the treatment of secondary hyperparathyroidism and CTAP101 for the treatment of vitamin D insufficiency.
Charles Bishop, president and CEO of Cytochroma, said: “This latest funding provides Cytochroma with the financial capability to aggressively drive the development of our clinical-stage therapeutic pipeline.”