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DLVR Therapeutics Inc. Raises Additional Capital Adding MaRS Innovation to Investor Base
Date:10/24/2011

TORONTO, Oct. 24, 2011 /PRNewswire/ -- DLVR Therapeutics Inc. ("DLVR") - a privately-held biotechnology company currently focused on developing oncology therapeutics based on its proprietary high density lipoprotein-like nanoparticle -announced today that the Company has completed its seed round investment bringing the total raised to $2 million in cash and in-kind support.  MaRS Innovation joins the University Health Network (UHN) and the Ontario Institute for Cancer Research (OICR) as investors in the company.  The additional funds will be used by DLVR to advance its small molecule chemotherapeutic program towards a pre-clinical regulatory package and continue development of its small interfering RNA (siRNA) program.

"This additional financing highlights the significant potential of our nanoparticle delivery platform approach," stated Mr. Frank Gleeson, President and CEO of DLVR. "Our nanoparticles offer a unique and selective delivery of the payload to the cytosol of the intended target reducing undesired side effects.  MaRS Innovation has recognized this great potential and its investment enables us to accelerate our efforts to advance a chemotherapeutic candidate into IND-enabling studies."

The company's initial development strategy is focused on exploiting the natural targeting approach of DLVR's technology to cancer cells.  With proof-of-concept studies completed, the company is well on its way to identifying a clinical candidate while securing partnerships to further develop delivery of siRNA payloads.  Co-incident with the transaction, Raphael (Rafi) Hofstein, PhD, President and CEO of MaRS Innovation, will join DLVR's board of directors and Parimal Nathwani, Vice-President of MaRS Innovation will become a member of the company's management team in a business development capacity.

"We are very pleased to be joining UHN and OICR in supporting this new and exciting company," stated Dr. Hofstein.  "DLVR pr
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SOURCE DLVR Therapeutics Inc.
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