LONDON, April 19, 2016 /CNW/ -- DalCor Pharmaceuticals today announced the completion of $150 million in private financing to continue development of dalcetrapib in a genetically distinct population of patients with cardiovascular disease. DalCor closed a $50 million Series A financing round late in 2015 and a $100 million Series B round this week. Lead investors in DalCor include founding investors Sanderling Ventures and André Desmarais together with new investors Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ and CTI Life Sciences with significant participation by additional undisclosed investors.
DalCor will use the proceeds to fund a Phase 3 clinical trial of dalcetrapib, a CETP inhibitor, in patients who have recently experienced Acute Coronary Syndrome (ACS). An investigational companion diagnostic test developed by Roche Molecular Systems will be used as an aid in determining if a patient is eligible to receive the drug. DalCor intends to initiate the trial targeting 5,000 patients with ACS this month, beginning at the Montreal Heart Institute (MHI).
Dalcetrapib modulates plasma cholesteryl ester transfer protein (CETP) activity, increasing high density lipoproteins (HDL). Analyses of the cardiovascular dal-Outcomes trial revealed a genetically distinct patient population in which dalcetrapib demonstrated a statistically significant 39 percent reduction in cardiovascular events in patients who were already taking statins. A subsequent prospective analysis showed regression of atherosclerotic plaque in a patient population with the same genetic profile. The patients with this genotype represented approximately 20 percent of the patients genotyped in the 15,871 patient dal-Outcomes trial.
In conjunction with the Series B financing, Stéphane Etroy, senior vice president, co-head of Direct Investments and head of Europe Private Equity at Caisse de dépôt et placement du Québec (CDPQ) will join DalCor's board of directors.
Robert McNeil, Ph.D., chief executive officer of DalCor, said, "This trial represents a major step forward in cardiovascular medicine, opening new doors and creating therapeutic options for patients of specific genetic composition suffering from heart disease. We believe that targeting a genetically specific patient population with dalcetrapib has the potential to dramatically reduce cardiovascular risk in this select patient population and will demonstrate the long expected benefit of CETP inhibitors. DalCor and its investors are committed to developing dalcetrapib as the first precision medicine for cardiovascular treatment personalized for patients with a specific genetic profile."
Christian Dubé, executive vice-president, Québec at la Caisse, said, "Through this investment, la Caisse enables DalCor to develop its product even further, ultimately leading to an important breakthrough in cardiovascular risk management. In addition to strengthening a life sciences firm established in Québec and generating attractive returns for our clients, this investment will allow la Caisse to support the Montreal Heart Institute in its goal to become a global leader in cardiology research."
Aquilo Partners, L.P. in its capacity as strategic advisor to DalCor Pharmaceuticals, is also acting as financial consultant to the company.
About DalCor Pharmaceuticals
DalCor is developing precision treatments for cardiovascular disease by genetically targeting patients that will derive clinical benefits. By integrating clinical and genetic insights, DalCor intends to deliver superior clinical cardiovascular outcomes. The company's first development program, dalcetrapib, is intended to reduce cardiovascular events in a specific genetic subset of patients. DalCor Pharmaceuticals has offices in Montreal, San Mateo, Calif. – U.S.A., Zug, Switzerland and Stockport, U.K.
For more information, visit www.dalcorpharma.com.
About Sanderling Ventures
Sanderling Ventures is among the oldest investment firms dedicated to building new biomedical companies. Sanderling emphasizes early-stage financing and active management of its portfolio companies. Its principals play an active role in new ventures by providing seed and early-stage funding, contributing management leadership and administrative support, developing cost-control strategies to extend available dollars, supplying technical and regulatory expertise where needed, and offering the insight and perspective of those who have "done it before."
For more information, please visit www.sanderling.com
About the Montreal Heart Institute
Founded in 1954 by Dr. Paul David, the Montreal Heart Institute constantly aims for the highest standards of excellence in the cardiovascular field through its leadership in clinical and basic research, ultra-specialized care, professional training and prevention. It is part of the broad network of health excellence made up of Université de Montréal and its affiliated institutions. The Montreal Heart Institute ranks as the No. 1 research hospital in Canada for research intensity and research income per researcher, according to Research Infosource.
For more information, please visit www.icm-mhi.org
About Caisse de dépôt et placement du Québec
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2015, it held $248.0 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate.
For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
Matt Middleman, M.D.
SOURCE DalCor Pharmaceuticals