4 M$ investment agreement to prepare the clinical study of an improved chemotherapy

The Gouvernement du Québec and accredited investors consolidate Pharma in silica' momentum

QUÉBEC, Oct. 30, 2024 /CNW/ - Pharma in silica inc. announces today a $4,000,000 investment agreement in order to bring OpPacli^tm, its lead drug candidate, to the threshold of a North American clinical study. A first tranche of $1,500,000 was disbursed, in equal parts by nine accredited investors and by Investissement Québec as the agent of Gouvernement du Québec via the Impulsion PME program (pharmaceutical section). The second tranche, which could reach $2.5 million, will be concluded momentarily.

The Québec City pharmaceutical company develops an original nanomedicine designed to provide a well-tolerated and more effective chemotherapy to the persons suffering from certain solid cancers. The funds will be dedicated to the obtention of the authorization of a Canada/USA clinical study in patients with advanced non-small cell lung carcinoma (NSCLC / CBNPC). Three innovative nanomedicines will also be developed to meet currently unmet medical needs.

The OpPacli nano-sized silica sphere is designed to reduce the toxicity and increase the efficacy of paclitaxel, a cytotoxic drug sold each year at the pace of US$3 billion.

"This financing propels our new chemo up to the major leagues of pharmaceutical development: the human proof of concept" according to François Arcand, the president of Pharma in silica. "This passage generates a significant gain in value and opens the way to partnerships with big pharmas".

Laboratoires Pharma in silica inc. is a preclinical-stage pharmaceutical company based in Québec City's Parc Technologique. Since 2019, it has been developing novel treatments for solid cancers (lung, breast, etc.) using OpPacli^tm, a patented silica nanocarrier. The company is driven by a dynamic group of chemists, pharmacists and managers led by François Arcand, an experienced life sciences entrepreneur (Medicago, Plant-made Pharmaceuticals Conferences, ERA Biotech). The company established its own research and production facilities and collaborates with oncology experts and world-renowned research centers and has completed the pre-IND/CTA meetings with the FDA and Health Canada.

SOURCE Pharma in Silica