Ovensa, a biotechnology spinout from Université du Québec à Rimouski, has raised $530,000 from a consortium of investors and angel investors including Aligo Innovation, a university research commercialisation firm.
Angel investors from Anges Québec and undisclosed private investors also took part in the round.
Founded in 2012, Ovensa is developing personalised treatments for cancer and neurodegenerative diseases. The company is also working on preventing antibiotic resistance.
Ovensa’s therapies focus on the delivery of molecules to targeted human tissue through oral administration.
The cash injection will support further development efforts and help bring treatments to market.
Stéphane Gagné, president of Ovensa, said: “This new investment and support from members of Anges Québec and Aligo Innovation will be a boon in demonstrating the value of this new technology, given our plans to develop more personalised medications for patients in partnership with the pharmaceutical industry.”
