TORONTO, Sept. 18 /CNW/ - Trillium Therapeutics Inc., a privately-held
biopharmaceutical company specializing in the development of innovative
therapies for the treatment of immune-mediated disorders, announced today that
it has secured $12 million in new financing from its existing investors,
VenGrowth Private Equity Partners, BDC Capital and Canadian Medical
Discoveries Fund (CMDF).
"We are fortunate to have the continued support of some of Canada's
premier venture capital investors, especially under these trying market
conditions," commented Trillium CEO Dr. Niclas Stiernholm. "These funds will
allow us to advance several programs into clinical development, elevating the
company to a new level and opening up new strategic possibilities in 2009."
Trillium will use the majority of the proceeds to fund clinical trials of
its lead product candidate, TTI-1612, a recombinant growth factor under
parallel development for the prevention of necrotizing enterocolitis and the
treatment of interstitial cystitis. TTI-1612 is on track to begin clinical
testing by the end of 2008, and two additional trials are projected to
commence in 2009. The company's two preclinical programs, a CD200-specific
monoclonal antibody for the treatment of cancer, and a CD200Fc fusion protein
for the treatment of autoimmune and inflammatory diseases, continue to hold
promise and to generate strong scientific and commercial interest.
"Our continued support for Trillium is driven by the quality of the lead
program TTI-1612, the strong patent position around the exciting new
immunoregulatory target CD200, and management's proven ability to execute
partnerships," added Dr. Luc Marengère, of VenGrowth Private Equity Partners,
Trillium's largest investor.
About Trillium: Trillium Therapeutics Inc. is a private biopharmaceutical
company specializing in innovative therapies of immune-mediated conditions,
such as autoimmune and inflammatory disorders, as well as cancer. The
company's lead program, a recombinant growth factor, is being developed for
the prevention of necrotizing enterocolitis and the treatment of interstitial
cystitis. Trillium has two preclinical programs targeting the CD200
immunoregulatory axis; a CD200-specific monoclonal antibody for the treatment
of cancer and a CD200Fc fusion protein for the treatment of autoimmune and
inflammatory diseases. The company has a broad network of external academic
and industry R&D collaborations, including several license agreements with
major US biotechnology companies.
For further information:
For further information: Niclas Stiernholm, Ph.D., Chief Executive
Officer, Trillium Therapeutics Inc., 96 Skyway Avenue, Toronto, Ontario, M9W
4Y9, Canada, Tel: (416) 595-0627, Fax: (416) 595-5835,