MONTREAL, QC, Canada – March 17th, 2016
Laurent Pharmaceuticals Inc. announced today the closing of a financing round led by Cystic Fibrosis Canada. Existing investors Aligo Innovation LP (previously MSBi Valorisation) and members of Anges Quebec, as well as other existing and new private investors, also participated in the round.
This investment will allow the preparation of the upcoming Phase 2 clinical trial with LAU-7b in cystic fibrosis (CF) patients, planned to start later this year in Canada and United States. LAU-7b is a once-a-day oral drug addressing the persistent and unresolved inflammation, a leading cause of lung tissue destruction in CF.
“We are pleased to support Laurent Pharmaceuticals in its effort to bring this therapy closer to CF patients”, said Norma Beauchamp, the CEO of Cystic Fibrosis Canada. “This is Cystic Fibrosis Canada’s first direct investment in a company and it builds on our mission to end CF by encouraging Canadian start-ups companies to advance disruptive technologies for our patient community. We are impressed by LAU-7b’s potential benefits and by the company’s efforts in bringing this therapy to the next level of development.”