TORONTO, Feb. 5 /PRNewswire/ - Trillium Therapeutics Inc. (TTI) announced
today that the Company has raised an additional $6 million, bringing the total
of its Series A financing to $13.5 million. The Business Development Bank of
Canada (BDC) led the round with a $3 million investment, and existing
investors, the VenGrowth Advanced Life Sciences Fund Inc. and the Canadian
Medical Discoveries Fund (CMDF), jointly contributed an additional $3 million.
"This new investment, which is a direct result of our team's hard work
and dedication over the last 12 months, will allow us to advance our existing
development programs towards human trials, and to add one or two new
projects", explained Dr. Niclas Stiernholm, TTI's Chief Executive Officer. "We
are pleased to welcome BDC as a new investor and appreciate the continued
support of Vengrowth and CMDF".
Robert Hall, a Director of BDC's Venture Capital Division who is joining
TTI's Board of Directors added, "We are excited to be a part of Trillium
Therapeutics, given the quality of the company's science and the impressive
advancements it has made over the past year. I am looking forward to working
with such a talented and experienced management team and Board."
TTI, a privately held Research and Development (R&D) company, specializes
in the development of innovative therapies that restore balance to the immune
system in conditions associated with aberrant and harmful immune responses,
such as autoimmune and inflammatory disorders, graft rejection, cancer and
viral hepatitis. The Company identifies therapeutic candidates with promising
preclinical profiles and advances these into clinical testing, with the
primary objective of demonstrating safety and efficacy in humans. The Company
has two lead development candidates, a CD200 fusion protein (CD200Fc) and an
Fgl2-specific monoclonal antibody (Fgl2 Mab), as well as several research
projects. TTI has a variety of external R&D collaborations, including several
with major pharmaceutical and biotechnology companies.
About the Business Development Bank of Canada
BDC Venture Capital is a major venture capital investor in Canada, active
at every stage of the company's development cycle, from seed through
expansion, with a focus on technology-based businesses that have high growth
potential and that are positioned to become dominant players in their markets.
BDC Venture Capital has been involved in venture capital since 1975 and has to
date invested in more than 400 different companies. It currently manages
$550 million in venture capital assets invested in the areas of biotechnology,
medical and health related technology, telecommunications, information
technology and electronics.
SOURCE Trillium Therapeutics Inc.