Thrasos Therapeutics, a Canadian clinical stage biotherapeutics company, has completed a $35 million financing for the development of THR-184, its lead product candidate for the treatment of acute kidney injury (AKI).
The round was led by new investor, SR One, with funds coming from the GSK Canada Life Sciences Innovation Fund, part of GlaxoSmithKline's commitment to advance the development and commercialization of scientific innovation in Canada. Five additional new investors and existing investor, SW Co, joined in the round. The new investors were Advanced Technology Ventures (ATV), Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management and Pappas Ventures.
With the financing, Thrasos plans to advance THR-184 through phase II clinical proof of concept in AKI.
"Thrasos' lead therapeutic program for acute kidney injury has demonstrated strong potential in preliminary studies and we are pleased to support this program and other potential opportunities in renal disease, a field of huge unmet medical need,” said Dr. Jens Eckstein, president of SR One and lead investor of the financing.
Richard Andrews, president and CEO of Thrasos, said, "AKI represents an important market opportunity in North America and is a daunting challenge with no current treatment available. We are encouraged by the positive data achieved in our preclinical and phase I studies with THR-184 and look forward to advancing this program into phase II and ultimately having a positive impact on patients with the condition."