MONTRÉAL, March 31, 2015 /CNW Telbec/ - The Fonds de solidarité FTQ believes in the potential of Montréal biotech Thrasos Innovation (Thrasos) and is participating in the Series D financing round led by BDC Venture Capital and SR One. The company's current Phase 2 is progressing well and is expected to reach full enrollment this summer. Success in such a program would be meaningful for any patient suffering from acute kidney injury. It therefore made sense for the Fonds to support the continuation of clinical trials for Thrasos' lead product, THR-184.
"This investment will allow Thrasos to advance THR-184 through Phase 2 clinical trials in acute kidney injury and to continue their research on chronic kidney disease. Thanks to its team of scientists, the Montréal biotech is well positioned with its therapeutic programs in renal disease, a field of huge unmet needs," said Didier Leconte, Senior Investment Director, Life Sciences, at the Fonds de solidarité FTQ.
"By reinvesting in Thrasos, the Fonds de solidarité FTQ is recognizing the strides made by the company since 2012 and is once again demonstrating its commitment to supporting biotechs. This is good news for the Québec life sciences sector and the direct and indirect jobs it provides," continued Alain Denis, Senior Vice-President, New Economy, at the Fonds de solidarité FTQ.
Acute Kidney Injury (AKI) is the temporary loss of renal function that can occur following cardiac and/or vascular surgery, inflammatory disease, trauma or the administration of contrast dye for imaging. Millions of patients undergoing cardiac and vascular surgery as well as medical imaging are at risk of AKI. There are over 1 million AKI patients diagnosed each year in North America, all of whom experience some permanent loss of kidney function. Even more significant is that over 140,000 of these AKI patients progress to multi-organ failure, in-hospital dialysis and experience a high risk of mortality. Survivors of severe AKI also risk progressing to End Stage Renal Disease (ESRD) and permanent dialysis. There are currently no drug therapies available for AKI.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.5 billion as of November 30, 2014, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in more than 2,450 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
SOURCE Fonds de solidarité FTQ
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