Led · Equity · Feb 2019

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.

Participated · Equity · Nov 2016

Zucara Therapeutics is a Toronto-based diabetes life sciences company developing ZT-01, a first-in-class, once-daily therapeutic to prevent hypoglycemia in people with type 1 diabetes and insulin-dependent type 2 diabetes. ZT-01 is designed as an SST receptor 2 antagonist to inhibit somatostatin and restore glucagon secretion, improving the body’s counterregulatory response to low blood glucose. Zucara has demonstrated that ZT-01 can increase the glucagon response in people with T1D. The company completed a US$25 million Series B financing to support its clinical and development programs. Proceeds are intended to fund the remainder of the ongoing Phase 2a ZONE trial and the nonclinical development of a once-weekly version of ZT-01. The financing brings strategic and mission-driven investors into the syndicate to advance the candidate toward later-stage development. Zucara Therapeutics is developing ZT-01, a once-daily therapeutic intended to prevent insulin-induced hypoglycemia in patients using insulin therapy. ZT-01 is designed to inhibit somatostatin, restoring glucagon secretion and the body’s ability to recover from hypoglycemia. The company positions ZT-01 as a first-in-class therapy that could improve diabetes management and reduce dangerous hypoglycemic episodes. Zucara was co-founded by Toronto Innovation Acceleration Partners and adMare BioInnovations based on foundational intellectual property from the University of Toronto. Preclinical R&D was supported by more than US$7 million in funding, including US$3.9M from The Leona M. and Harry B. Helmsley Charitable Trust and US$0.8M from JDRF International. The company is preparing to initiate a Phase 1 clinical trial of ZT-01 in mid-2020 and intends to advance the program through Phase 2. Zucara Therapeutics is a diabetes life sciences company developing the first once-daily therapeutic to prevent low blood glucose (hypoglycemia); its lead candidate is ZT-01. The company is a spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation and is based in Toronto and Vancouver, British Columbia. Zucara plans GLP toxicology, GMP manufacturing and IND/CTA‑enabling activities to advance ZT-01 into Phase I clinical trials in 2019, with preclinical work led by CSO Dr. Richard Liggins and scientific support from founding scientist Dr. Michael Riddell. The company secured US$3.9M in non-dilutive funding structured as a program-related investment (PRI) loan from The Leona M. and Harry B. Helmsley Charitable Trust to support preclinical advancement. This new support builds on more than US$1M in earlier funding from JDRF International, the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), CDRD and MaRS Innovation. Zucara will join a Helmsley-supported scientific working group focused on understanding and restoring pancreatic mechanisms to prevent hypoglycemia and continues to collaborate with CDRD to advance its product. Zucara Therapeutics is a pre-clinical life sciences company and a spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation. The company’s lead program is a first-in-class therapeutic designed to prevent dangerous low blood sugar by inhibiting somatostatin and restoring counter-regulation in people with diabetes. Founding scientists include Dr. Michael Riddell and Dr. Richard Liggins, who serves as chief scientific officer. Zucara has shown proof-of-principle in animal models and plans to advance its lead candidate through IND-enabling studies. JDRF has provided previous support to the underlying academic work and has contributed new funding to ready the program for clinical testing beginning in 2019. The company aims to reduce hypoglycemia incidence without affecting insulin efficacy, improving glucose management and long-term outcomes for people with type 1 diabetes. Zucara Therapeutics is a pre-clinical life sciences spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation developing a first-in-class, once-daily drug to prevent hypoglycemia in patients with diabetes. The program targets somatostatin type 2 receptors in the pancreas to prevent low blood sugar and restore natural glucose regulation, offering a preventative approach unlike rescue therapies. The company licensed a set of compounds from CDRD and is selecting and advancing a lead drug candidate. Further validation and in vivo studies are ongoing. Zucara says the recent funding provides runway to reach near-term value-creating milestones and advance the program toward clinical development. The company plans to seek Series A financing in early 2017 to take the program into clinical trials, which are expected to start in 2018.