Sitka Biopharma is a preclinical biotechnology company and spin-off of CDRD and the University of British Columbia focused on a hyperbranched polyglycerols (HPG)-docetaxel nanoparticle platform to boost tissue uptake. Its lead candidate, STK-01, is being developed for intravesical treatment of bladder cancer and has shown improved bladder tissue uptake and superior efficacy versus commercial docetaxel in preclinical studies. The company is completing GMP and GLP campaigns in preparation for a CTA filing and the start of Phase 1 clinical trials in partnership with Cancer Research UK. Follow-on indications for the core formulation include intraperitoneal delivery for ovarian cancer and other localized-delivery challenges. Sitka has received prior funding from Quark Venture and early-stage grants from CIHR, Genome British Columbia, and the NRC IRAP program. The recent investment is intended to accelerate development activities and scale up operations for clinical entry. Sitka Biopharma is a preclinical biotech spin-off of the Centre for Drug Research and Development (CDRD) and the University of British Columbia focused on a nanoparticle platform to increase absorption of drugs in difficult-to-penetrate tissues. Its lead candidate, STK-01, targets intravesical (bladder) chemotherapy, with planned follow-on indications including intraperitoneal delivery for ovarian cancer and other localized-delivery applications. Preclinical studies showed the company’s hyperbranched polyglycerols (HPG)-docetaxel formulation significantly improved bladder tissue uptake versus commercial docetaxel and demonstrated superior efficacy, providing preclinical proof-of-concept. Sitka is partnered with Cancer Research UK to take STK-01 into initial Phase 1 clinical trials. Early funding has come from grants (CIHR, Genome British Columbia, NRC IRAP) and Quark Venture provided the company’s first private financing in March 2016. Most recently Sitka received a $1.9M investment from Quark Venture Inc. and GF Securities through their Global Health Sciences Fund to complete GLP toxicology studies and GMP manufacture of clinical drug product. That financing is intended to enable the IND-enabling studies and rapid progression through initial clinical trials while the company plans to expand STK-01 to additional indications.

Total raised

$3M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2019