Market Overview

Inversago Pharma Receives $7 Million in Series A Financing

Share:

Proceeds will support the development of new generations of
cannabinoid-1 (CB1) receptor inverse agonists for the treatment of
several metabolic diseases including Prader-Willi Syndrome (PWS) and
type 1 diabetes (T1D).

Today Inversago Pharma Inc. ("Inversago") announced that it has secured
a $7 million series A financing to pursue its development plan and
advance its CB1 platform as a potent treatment for targeted diseases.

The company's first financing round was co-led by Genesys Capital and
Amorchem, with participation from the JDRF T1D Fund, Accel-Rx, Anges
Québec Capital, Anges Québec, Tarnagulla Ventures and angel investors.
This funding will enable the company to advance its
peripherally-restricted CB1 inverse agonist/antagonist program into
clinical trials.

Inversago is developing new generations of CB1 receptor blockers. First
generation CB1 blockers were previously in development by other major
pharmaceutical companies for a range of metabolic conditions and showed
striking efficacy in clinical trials. However, these third-party
compounds were centrally-acting and led to psychiatric adverse events
which caused the termination of all first generation CB1 inverse agonist
programs.

Inversago's technology, based on the work by CB1 world expert George
Kunos at the National Institute of Health (NIH/NIAAA), has demonstrated
that in preclinical models, peripherally restricted CB1 blockade
provides a clear therapeutic potential to treat conditions like obesity,
NASH, liver fibrosis and diabetes, without causing the CNS or
behavioural effects associated with the earlier generations of CB1
blockers.

"This is an exciting time for Inversago as we launch operations and
pioneer the comeback of CB1 inverse agonists", announced François
Ravenelle, Chief Executive Officer and Founder of Inversago. "CB1
blockade has already demonstrated much promise, and we are confident we
have the right technology to exploit their full potential, starting with
important unmet needs".

"Clinically validated, biological mechanisms are both rare and valuable
in drug development. We look forward to supporting Inversago as it
evaluates its novel chemistry across a breadth of potential metabolic
indications", commented Jamie Stiff, Partner at Genesys Capital. "The
clear demonstration of peripheral action with very low brain occupancy
shapes the path toward the reinstated first-in-class therapeutics for
several unmet medical needs", added Elizabeth Douville, Managing Partner
at AmorChem.

Also, research in the past several years has shown that pancreatic
β-cells express CB1 receptors and that blocking these receptors
positively influences insulin secretory function and, importantly, also
promotes β-cell proliferation and survival under diabetic conditions.

"JDRF has long recognized the potential of CB1 blockade for type 1
diabetes, as a potential first β-cell targeted therapy for this
condition. We are excited to invest and strategically support Inversago
as it develops new oral drugs which have the potential to be a
game-changer for the community," said Jonathan Behr, Managing Director
at the JDRF T1D Fund.

About Inversago Pharma

A specialized, preclinical-stage biotech company, Inversago Pharma
develops new generations of peripherally-restricted cannabinoid-1
receptor (CB1) inverse agonists/ antagonists for the treatment of
Prader-Willi Syndrome (PWS), type 1 diabetes (T1D), obesity and other
metabolic disorders such as non-alcoholic steatohepatitis (NASH).
Inversago's technology addresses limits associated with first generation
CB1 blockers, allowing the Company to exploit their full medical
potential. For more information, visit www.inversago.com.

About Genesys Capital

Genesys Capital (www.genesyscapital.com)
is one of the largest Canadian-based venture capital firms exclusively
focused on the life sciences industry. Genesys is focused on building
companies in the high-growth sectors of healthcare and biotechnology.
Through its expertise and network, Genesys accelerates the development
of commercially viable emerging companies that represent promising life
sciences investment opportunities.

About Amorchem

AmorChem (www.amorchem.com)
is a leading, early-stage, venture capital fund located in Montreal
focused on creating promising life science companies from technologies
originating primarily from Quebec-based universities and research
centres. With 87M$ under management, AmorChem targets disruptive
technologies which provide huge impact on patients' health and foster
their path up to clinical stage.

About JDRF T1D Fund

The JDRF T1D Fund (www.t1dfund.org)
is a venture philanthropy fund accelerating life-changing solutions to
treat, prevent and cure type 1 diabetes (T1D) through catalytic
commercial investments. Through its investments in partnership with
private capital, including venture capital, corporations and
foundations, the T1D Fund seeks to attract the private investment
necessary to advance drugs, devices, diagnostics, and vaccines into the
hands of those living with T1D. The T1D Fund invests in areas
strategically aligned with JDRF, the leading global organization funding
T1D research, with an exclusive focus on supporting the best commercial
opportunities. The T1D Fund will reinvest any realized gains into new
investments to further its mission.

View Comments and Join the Discussion!