Markham, Canada (ots/PRNewswire) - Cytochroma Inc. announced today
that the Company has received the first tranche of a CDN $15 million
financing. The funds will be used by Cytochroma to continue
advancement of CTA018 towards a Phase II clinical trial for psoriasis
as well as to extend its pipeline of late-stage preclinical products.
This recent round of financing was led by VenGrowth Private Equity
Partners Inc. ("VenGrowth"), through The VenGrowth Advanced Life
Sciences Fund Inc., with additional participation from all of the
"We are very pleased to be receiving this additional investment
from our current investors as it supports and reinforces our current
development approach," stated James M. Rae, CEO of Cytochroma.
"Cytochroma has confidence in the ongoing clinical development of
CTA018 and will be using the same approach to move other Vitamin D
Signal Amplifier products into hyperparathyroidism secondary to
chronic kidney disease, oncology and multiple sclerosis indications.
These additional indications for our compounds will add significant
value to the Company."
"The potential of Cytochroma's multiple clinical and development
programs and strengths of management are truly highlighted by the
unanimous and enthusiastic support by the existing investors", said
Dr. Luc Marengere, Managing General Partner with VenGrowth. "The
company is executing well and delivering tangible development
About Cytochroma Inc.
Cytochroma Inc. is a specialty drug development company targeting
hyperproliferative disorders, autoimmune diseases and chronic kidney
disease. The company is currently focused on developing and
commercializing innovative vitamin D analogs, significantly having a
dual mechanism of action, which address major medical needs in the
treatment of psoriasis, secondary hyperparathyroidism, multiple
sclerosis and cancer. For more information, please visit
With over 1 billion dollars in assets under management, VenGrowth
is Canada's largest private equity and venture capital firm managing
both retail and institutional assets. Since 1982, VenGrowth's
accomplished private equity managers have invested over 1.1 billion
dollars in 180 companies, building a strong track record of
successful portfolio transactions. These investments have been made
on behalf of over 180,000 individual investors and leading pension
funds, banks, insurance companies and family foundations. Portfolio
companies benefit from VenGrowth's substantial experience, resources,
and hands-on investment style. VenGrowth's offices are located in
Toronto (Corporate Headquarters) and Ottawa. For more information,
please visit www.vengrowth.com.
ots Originaltext: Cytochroma Inc.
Im Internet recherchierbar: http://www.presseportal.ch
For further information: Sheldon Kawarsky, Ph.D., Director, Business
Development, Cytochroma Inc., Phone: +1-(905)-479-5306 ext. 337,