Asahi Kasei Corporate Venture Capital (AKCVC), the investment arm of conglomerate Asahi Kasei, has supplied C$1.3m ($1m) in a series A extension to Canada-based drug developer Feldan Therapeutics.
The second close brings the round’s total to $10.5m after GC, the parent of biopharmaceutical firm GC Pharma, had a led an initial tranche in September this year that also included Stonebridge Ventures, Anges Québec Capital and unnamed, existing investors.
Feldan Therapeutics is working on the direct delivery of proteins and peptides into the cell, with a view of developing regenerative medicine in areas including immunotherapy. It has dubbed its technology platform Feldan Shuttle.
The money will support further preclinical work and enable Feldan to advance its pipeline into clinical trials.
Takashi Morishita, general manager at AKCVC, said: “Because of its broad applicability, safety, and ease of use, the Feldan Shuttle is a very promising technology that has the potential to bring a whole new class of human therapeutics to clinical trial.
“Our organisation is happy to take part in Feldan’s growth and excited to work with its great team of multidisciplinary specialists.”
