MSI Methylation Sciences, a Canada-based developer of pharmaceuticals, has raised €13.5m ($16m) in its series A round four years after launch.
Inventages, the venture capital firm backed by Switzerland-based chocolate company Nestle, led the round and was joined by peers Working Opportunity Fund and BC Advantage Funds.
Barry Guld, executive president of MSI, said: "We look forward to working with the Inventages team to progress our lead through clinical trials."
The new investment will help fund the clinical development of MSI’s formulations of s-adenosyl methionine (SAMe) to clinical proof of concept for the treatment of depression.
Gunnar Weikert (pictured), chairman of Inventages, has joined MSI’s board and said: "MSI represents a unique development company with reduced risk due to a large body of human evidence supporting safety and efficacy."