By Jennifer Chiou
New York, Dec. 19 - BioAxone Therapeutic Inc. announced it closed on $5.1 million in the last tranche of a second-round of a $12.15 million investment.
Investors included T2C2/Bio2000, Solidarity Fund QFL, Desjardins Venture Capital and Lothian Partners 27 SARL.
The investment was made following key milestones related to the company's phase 1/2a clinical trial in acute spinal cord injury.
"BioAxone is making rapid progress in advancing the clinical development of its small and large molecule drug candidates in spinal cord injury and eye diseases", president and chief executive officer Frank Bobe said in a news release.
"This recent investment will allow us to complete our phase 1/2a clinical trial in acute spinal cord injury by June of next year and advance to a phase 2b/3 trial before the end of 2006."
Based in Montreal, BioAxone Therapeutic is a neuroscience company focused on acute spinal cord injury, age-related macular degeneration and glaucoma.
| Issuer: | BioAxone Therapeutic Inc.
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| Issue: | Preferred stock
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| Amount: | $5.1 million
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| Round: | Series B
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| Investors: | T2C2/Bio2000, Solidarity Fund QFL, Desjardins Venture Capital, Lothian Partners 27 SARL
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| Announcement date: | Dec. 19
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