#Canada #Montreal #Find Therapeutics #Dr. Thierry Abribat #tasronetide

Find Therapeutics Marks Significant Milestone with Series A Extension

Find Therapeutics Inc., a Montreal-based biopharmaceutical company dedicated to developing innovative treatments for demyelinating diseases, has announced a significant funding milestone. The company successfully closed a CAD$10 million Series A extension round, which was raised from existing investors including CTI Life Sciences, Investissement Québec, and adMare BioInnovations. This financing comes on the heels of the successful completion of a Phase I clinical trial of their lead drug candidate, tasronetide.

Tasronetide is a first-in-class peptide designed to target the NRP1/Plexin-A1 receptor complex, aiming to enhance natural remyelination processes in patients affected by conditions like Multiple Sclerosis (MS). The proceeds from this funding round will primarily support the company's preparation for Phase 2 clinical trials, which include a Phase 1b PET imaging study involving participants diagnosed with Multiple Sclerosis.

Leadership Transition: Dr. Thierry Abribat's Appointment

In addition to the funding news, Find Therapeutics has appointed Dr. Thierry Abribat to take on the role of Executive Chairman of the Board of Directors. He succeeds Paul F. Truex, who will continue his service as an active board member. Dr. Abribat, a seasoned biotechnology executive, joined the board earlier this year and brings extensive expertise, having previously founded and successfully exited several biotechnology companies.

Dr. Frédéric Lemaître Auger, the Interim President and CEO at Find Therapeutics, expressed optimism about the new funding and leadership changes. "This Series A extension demonstrates the continued confidence of our investors in Find's mission and progress," he stated. Lemaître Auger further highlighted that the additional financing will allow the company to advance their drug pipeline, including conducting essential Phase 1b PET trials. The leadership changes are expected to guide Find Therapeutics into its next growth phase.

Commitment to Innovation in Demyelinating Diseases

Dr. Abribat expressed his enthusiasm for joining Find Therapeutics at such a critical juncture. "I'm honored to take on the role of Executive Chairman at this pivotal time for Find Therapeutics," he commented. "The clinical-stage lead program, tasronetide, is derived from compelling science, and preclinical data supports a differentiated therapeutic profile."

Find Therapeutics is on a mission to provide novel therapeutic approaches for patients suffering from demyelinating diseases. They emphasize their commitment to bringing innovative treatments to the forefront, with tasronetide being crucial in their pipeline for the treatment of Chronic Optic Neuropathy and Multiple Sclerosis.

In preclinical studies, tasronetide has shown promising results in promoting neuroprotection and robust myelin repair, addressing the needs of patients who suffer from conditions characterized by the loss of myelin. The success in Phase I clinical trials further confirmed the safety and tolerability of tasronetide.

Looking Forward

With a strong financial foundation and experienced leadership, Find Therapeutics is well-positioned to advance its research and development initiatives. The involvement of Dr. Abribat is expected to enhance the strategic vision of the company as they continue to navigate the challenges of bringing innovative therapies to market. As the healthcare landscape evolves, Find Therapeutics remains committed to improving the lives of patients battling demyelinating diseases, with tasronetide leading the charge.

About Find Therapeutics

Founded on the pioneering work of Dr. Dominique Bagnard at the University of Strasbourg, Find Therapeutics aims to develop next-generation therapies through exclusive licensing with SATT Conectus. With a strong commitment to innovation, Find Therapeutics is poised to make significant strides in the biopharmaceutical field dedicated to demyelinating diseases. For further information, visit their official website here.