QUÉBEC CITY, Nov. 27, 2018 /CNW Telbec/ - Feldan Therapeutics (hereafter "Feldan"), a preclinical biotechnology company specialized in the intracellular delivery of therapeutic proteins and peptides, has announced an investment of $1.3 million by Asahi Kasei Corporate Venture Capital (hereafter "AKCVC"). AKCVC is focused on investing in innovative global companies active in areas of strategic importance to Asahi Kasei Corporation, a Japanese conglomerate operating business in the field of materials, healthcare and homes.
AKCVC's investment closes Feldan's $13.8 million series A round of financing initiated last September by GC, Stonebridge Ventures, Anges Québec, and Anges Québec Capital. These funds will be used to support preclinical work that will enable the transfer of Feldan's peptide-based technology to clinical trials.
"We are delighted to welcome Asahi Kasei to our series A syndicate and we are grateful for its participation, which further validates our business model and the potential of our technology," said Francois-Thomas Michaud, chief executive officer and co-founder of Feldan. "Our team looks forward to working with this new group of investors and benefit from their expertise and guidance as we progress toward preclinical testing."
"Because of its broad applicability, safety, and ease of use, the Feldan Shuttle is a very promising technology that has the potential to bring a whole new class of human therapeutics to clinical trial," said Takashi Morishita, General Manager at AKCVC. "Our organization is happy to take part in Feldan's growth and excited to work with its great team of multidisciplinary specialists."
About Feldan Therapeutics:
Feldan Therapeutics has developed a patented peptide-based technology platform, the Feldan Shuttle, which enables fast and safe intracellular delivery. The company's mission is to develop leading-edge therapeutic applications based on its proprietary platform, as demonstrated by its current pipeline of clinical programs taking advantage of the unique characteristics of the Shuttle.
About Asahi Kasei:
Founded in 1922, Asahi Kasei Corporation is a diversified business based in Tokyo focused on three primary sectors: Materials, Homes, and Healthcare. Asahi Kasei Corporate Venture Capital was established in 2008 and is focused on investing in innovative companies from around the world in areas of strategic importance to its parent company, Asahi Kasei Corporation.
SOURCE Feldan Therapeutics
For further information: Corporate contact: Francois-Thomas Michaud, PhD. Eng., Chief-executive officer, Feldan Therapeutics, Inc., T: +1 418-872-7277, [email protected]