Canada-based Alethia BioTheraputics has received $4.7m in its series B round from a consortium including healthcare comapny Cellscript.
Alongside Cellscript, an existing shareholder in Alethia, in the round were venture capital firms AgeChem Venture Fund, BDC Venture Capital and GO Capital.
Alethia previously raised $9.2m in its series A round from AgeChem Venture Fund, BDC Venture Capital and GO Capital Fund and Epicentre Technologies in September 2010. This came two years after BDC Capital and Go Capital initially joined forces in providing seed financing to the company which was founded in 2002.
Alethia will use the tranche of money to fund its antibody therapeutics program for cancer patients suffering bone mass loss during treatment.
Yves Cornellier, executive president of Alethia, said: “This funding will enable our lead bone anti-resorprtive candidate AB-25E9 to advance into the studies required to submit an IND [investigational new drug application].”