Canada-based regenerative medical technology developer Fortuna Fix has secured $25m in series B funding from investors including pharmaceutical firm Amgen’s corporate venturing arm, Amgen Ventures.
The round also featured Macnguyen Family Office as well as Salamander Invest, a special purpose vehicle established by Norwegian institutional investors and family offices to back Fortuna, and undisclosed other investors.
Founded in 2015, Fortuna is developing technology that can reprogram a patient’s own neural stem cells to replace lost neuronal tissue as a treatment for neurotrauma and neurodegeneration disorders such as Parkinson’s disease.
The funding will be used to continue clinical development of Fortuna’s product candidates, including phase 1 and 2 clinical trials for Parkinson’s disease and spinal cord injuries, and to expand the company’s automated robotic manufacturing capabilities.
As part of the deal two vice-presidents at Amgen, John Dunlop and Philip Tagari, will join Fortuna’s advisory board. Details of its earlier funding have not been disclosed.
Tagari said: “This investment in Fortuna represents Amgen’s first foray into cellular regenerative research and underscores our commitment to advancing novel neuroscience research for serious brain diseases, such as Parkinson’s.
“Regenerative medicine is one of the most exciting fields of healthcare today and we are delighted to participate in the advancement of these innovative solutions for patients suffering from severe neurodegenerative diseases and neurotrauma.”