TORONTO, Sept. 18 /PRNewswire/ - 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 Marengere, 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.
|SOURCE Trillium Therapeutics Inc.|
Copyright©2008 PR Newswire.
All rights reserved