Toronto’s AmacaThera is preparing clinical trials of a drug delivery hydrogel that could diminish the need for prescription opioid painkillers after surgery.
AmacaThera, a Canada-based drug release hydrogel developer based on University of Toronto research, has raised C$3.3m ($2.5m) in a seed round co-led by drug design services provider Viva Biotech.
Sprout BioVentures co-led the round, with participation from early-stage investment fund Grey Sky Venture Partners. The deal remains open to additional investors, with a second close anticipated in coming months.
Founded in 2016, AmacaThera is developing injectable hydrogels that release pharmacological agents such as small molecules, antibodies and stem…
