March 22, 2017
Seed financing of CAD$3.0M positions first-in-class WDR5 cancer therapy for clinical development
TORONTO, March 22, 2017 /CNW/ – FACIT announced a seed stage investment in Propellon Therapeutics (the “Company” or “Propellon”), a start-up created by FACIT focused on developing a portfolio of WDR5-targeted anti-cancer therapeutics. FACIT’s investment, combined with non-dilutive capital, achieves a targeted $3.0M financing for the lead program. The seed funding enables Propellon to accelerate the nomination of a candidate drug and position the Company for financing and/or entering a strategic partnership for clinical trials in patients with haematological cancers.
June 23, 2016
FACIT forms biotechnology company for OICR-discovered first-in-class epigenetic modifiers
TORONTO, ON (June 23, 2016) – FACIT has announced the creation of a new Ontario biotechnology company, Propellon Therapeutics Inc. (“Propellon” or “the Company”), to manage the development and commercialization of a portfolio of first-in-class WDR5 inhibitors for the treatment of various cancers. Epigenetic targets such as WDR5 represent an exciting class of therapies, possessing the potential to contribute significantly in precision medicine for cancer patients. Substantial advances have been achieved with the series of proprietary small molecule WDR5 inhibitors discovered and developed by the Drug Discovery team at Ontario Institute for Cancer Research (“OICR”). The formation of Propellon reflects a natural translation of early-stage breakthrough cancer innovations, and enables important development activities including attracting private sector investment and industry partnerships.