The company is working on treatments for breast cancer and solid tumours, based on research at University of Toronto and the Centre for the Commercialization of Antibodies and Biologics.
Canada-based cancer-focused biopharmaceutical company ImmunoBiochem raised an undisclosed sum in a funding round on Monday co-led by assorted, unnamed angel investors.
The round was co-led by an undisclosed backer, named as ImmunoBiochem’s “founding investor”, though details could be not ascertained. The company has moved into JLabs at Toronto, a life sciences incubator operated by healthcare firm Johnson & Johnson.
ImmunoBiochem is developing therapies for solid tumours and company currently has two preclinical drug candidates in its pipeline. The company is primarily focusing on patients suffering from triple-negative breast cancer, which has low survival rates and does not respond to widely available treatments.
The company’s drug discovery platform is based on research conducted in partnership with University of Toronto and its research translation affiliate, the Centre for the Commercialization of Antibodies and Biologics.
ImmunoBiochem previously obtained an undisclosed sum from unnamed backers in April 2016, according to deals database CrunchBase, though the claim is unsourced.
Vivek Goel, vice-president of research and innovation at University of Toronto, said: “University of Toronto is proud to see made-in-Canada innovations translated into the clinic, building on Canada’s long history of biomedical innovation.
“ImmunoBiochem is yet another example of the vibrant technology and startup community which is thriving in Toronto.”
