Feldan Therapeutics today announced the closing a $12.5 millions “Series A” financing round led by GC Holdings, with the participation of South Korean based Stonebridge Ventures, Anges Québec Capital, members of Anges Québec, and existing investors.
In June 2018, Feldan granted GC LabCell, a subsidiary of GC Holdings, exclusive rights to use the Feldan Shuttle platform in developing and manufacturing genetically engineered Natural Killer cells for human oncology.
News Release
Feldan Therapeutics Raises $12.5 Millions in Series A Financing Round
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Feldan Therapeutics has announced the closing of a $12.5 millions Series A financing round led by GC, with the participation of Stonebridge Ventures, 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”.
Date: September 24, 2018
Source: Private Capital Journal
