Subject: FNC
Feldan Therapeutics Raises $12.5 MIllion in Series A Financing Round
QUÉBEC CITY, Sept. 18, 2018 /CNW Telbec/ - Feldan Therapeutics (hereafter "Feldan") has announced the closing of a $12.5 million Series A financing round led by GC (parent company of GC Pharma), with the participation of Stonebridge Ventures (South Korean-based investor), Anges Québec Capital, including members of Anges Québec, and existing investors. Feldan is focused on the development of its pipeline of therapeutic applications based on the Feldan Shuttle, its proprietary peptide-based intracellular delivery technology.
In past years, Feldan and its collaborators have shown that the Feldan Shuttle enables highly efficient delivery of proteins and peptides inside mammalian cells, both in vivo and ex vivo. Proceeds from the current financing round will support preclinical work that will enable the transfer of the technology to clinical trials.
"Our team is thrilled to work with investors and collaborators who share our belief that intracellular delivery of proteins is the future of medicine," said Francois-Thomas Michaud, Chief executive officer and co-founder of Feldan. "We are also delighted to extend our relationship with key partners who will support us in bringing the Feldan Shuttle to clinical trial".
GC is a long-time leader in South Korean public health and is a world-class stakeholder of the biopharmaceutical industry. This strategic investment complements the current collaboration between the GC group and Feldan in the development of NK cell-based therapeutics. "We believe that the Feldan Shuttle has the potential to accelerate the development of next-generation therapies", said Yong Jun Huh, Chief executive officer of GC. "As a long-term strategic investor, we are very excited to make an investment in this potentially groundbreaking technology and best-in-class management team".
About Feldan Therapeutics :
Feldan Therapeutics has developed a patented peptide-based technology platform, the Feldan Shuttle, which enables fast and safe intracellular delivery. The company's mission is to develop leading-edge therapeutic applications based on its proprietary platform, as demonstrated by its current pipeline of clinical programs taking advantage of the unique characteristics of the Shuttle.
About GC:
GC, through its affiliates, provides total healthcare solutions that address the evolving needs of human health. GC was founded in 1967 and is headquartered in Yongin, South Korea. The company is the parent company of GC Pharma (Green Cross Corporation) (KRX: 006280), the largest protein therapeutics manufacturer in Asia.
About Stonebridge Ventures:
Stonebridge Ventures is an independent venture capital firm of South Korea and has expertise in various fields including healthcare, energy, internet, mobile, IT and media.
SOURCE Feldan Therapeutics
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