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[news 2007
- 2008]
Queen’s
spinoff Cytochroma Inc. completes $21 million in financing
for Vitamin D technologies
For immediate release
Jan. 18, 2007
MARKHAM, ON -- Cytochroma
Inc., a spinoff company of Queen’s University’s
PARTEQ Innovations, has secured $21 million in new financing
to advance its product development programs targeting
Vitamin D deficiency and related diseases in chronic
kidney disease. The new funding will support clinical
trials with three investigational new drug products,
which are scheduled to begin in 2007.
The financing round was led by The VenGrowth Advanced
Life Sciences Fund, Novo A/S, and GeneChem Technologies
Venture Fund.
Cytochroma was founded in 1996 by Queen’s scientists
Martin Petkovich and Glenville Jones to develop and
identify drug candidates aimed at modulating the effects
of cytochrome P450s, the key enzymes involved in the
metabolism of major biological signalling molecules.
Last year the company acquired Proventiv Therapeutics
LLC of Madison, WI, expanding Cytochroma’s broad
vitamin D product portfolio and positioning the company
to exploit current and future opportunities in chronic
kidney disease (CKD), psoriasis, cancer, vitamin D deficiency
and related disorders.
“This latest round of funding is a strong vote
of confidence in the potential of Cytochroma’s
technologies,” says John Molloy, President and
CEO of PARTEQ.”
Contact:
John Molloy
President & CEO
PARTEQ Innovations
P: 613. 533. 2342
F: 613. 533. 6853
jmolloy@parteqinnovations.com
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