QUEBEC CITY and TORONTO, Sept. 4, 2024 /CNW/ - Feldan Therapeutics (Feldan), a biopharmaceutical company specializing in the development of treatments based on intracellular delivery of therapeutics, has announced the closure of a US$ 21 million Series B round co-led by Genesys Capital (Genesys) and Fonds de solidarité FTQ (Fonds).
This Series B extension follows financing announced in June 2023 and which also includes participation from Investissement Québec, Amgen Ventures, GC Holdings, and other existing shareholders. The proceeds will be used to complete a Phase 1/2a study for FLD-103 – a first-in-class non-invasive intralesional treatment for basal cell carcinoma (“BCC”) designed to provide an alternative treatment to surgery. BCC, the most common skin cancer and the most frequent form of all cancers affects 3.6 million people in the U.S. and Canada each year and results in the development of tumours in sun-exposed skin areas such as the face, neck, and scalp. With the promise of minimizing side effects, avoiding scarring and eliminating the need for post-operative recovery, FLD-103 has the potential to become a minimally invasive first-line option for patients with BCC. Proceeds will also support the preclinical development of Feldan’s emerging therapeutic pipeline including its Pulmonary Program, further expanding the capabilities of its intracellular delivery technology.
“We are thrilled to have prominent investors like Genesys Capital and Fonds de solidarité FTQ lead this Series B and to have them join us on our journey to bring new treatments to patients,” said François-Thomas Michaud, co-founder and CEO of Feldan Therapeutics.” Their investment, alongside existing shareholders, not only reflects confidence in our team, technology, and medical and commercial potential of FLD-103, but also strengthens and accelerates its development along with our other R&D programs. We are at a pivotal and inspiring moment for Feldan with the imminent start of our first in-human study and we look forward to developing more transformative treatments. “
“Feldan’s Shuttle technology allows the delivery of a diversity of therapeutics including biologics and small molecules within cells while avoiding many of the limitations related to both endosomal entrapment and immunogenic side effects of competitive technologies such as LNPs and AAVs,” said Jamie Stiff, Managing Director of Genesys. “Further, BCC represents an exciting human proof of concept for this important platform technology.”
“Alongside Genesys Capital and other investors, we are proud to support Feldan’s efforts to make a first-in-class treatment available for BCC patients. Based in Québec City, the company has assembled an experienced team of researchers to work with new and promising technologies and approaches. The Fonds’ venture capital support in Feldan is another example of our long-term commitment to the life sciences sectors, with now over $2 billion in historical investments,” added Maxime Pesant, Vice-President, Private Equity, and Impact Investing – Life Sciences, at the Fonds de solidarité FTQ.
About Genesys Capital
Genesys Capital invests in and builds companies in the high-growth sectors of biotechnology, pharmaceuticals, and medical technology. Genesys has a proven track record of identifying emerging bioscience opportunities and transforming them into commercially successful companies. That track record is fuelled by robust industry relationships, broad business expertise, and a deep understanding of the life sciences sector.
Genesys has generated more than 20 exits while holding 35 board seats from 39 portfolio companies and has invested more than CAD 300M.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a source of pride in Quebec, fulfilling its mission through a unique business model created more than 40 years ago. Since then, the Fonds have rallied Quebec into action thanks to the retirement savings of over 785,000 shareholders.
With net assets of CAD 20 billion as of May 31, 2024, the Fonds supports thousands of companies through venture and development capital investments based on the belief that impact is created as much by financial as societal returns. For more information, visit fondsftq.com or our company page on LinkedIn.
About Feldan Therapeutics
Located in Quebec City, Canada, Feldan is a biopharmaceutical company pioneering the development of treatments based on the intracellular delivery of therapeutics. Feldan has designed the Feldan Shuttle, a proprietary, peptide-based technology that enables the safe and efficient delivery of various compounds inside cells. This technology unlocks the development of a new generation of therapies by giving access to intracellular targets beyond the reach of existing drugs. Feldan’s pipeline currently focuses on diseases affecting the skin and lungs.
Feldan’s operational and strategic focus is on the completion of clinical phase I/II trials of intralesional FLD-103 to treat basal cell carcinomas (BCC). BCC, the most common skin cancer and most frequent form of all cancers affects 3.6 million people in the US and Canada each year and results in the development of tumors in sun-exposed skin areas such as the face, neck, and scalp. Patients affected by BCC mostly rely on surgery for the removal of these tumours, an effective yet invasive and disfiguring procedure that leaves patients to deal with scarring and, in some instances, a long recovery time. Feldan is also advancing its pulmonary delivery program towards clinical development and further leveraging its intracellular delivery technology to offer life-changing therapeutics to patients.
For more information: www.feldan.com & LinkedIn
SOURCE Feldan Therapeutics
