gIcare Pharma has closed a $7 million Series A financing round to develop a novel alternative to perform safe, painless colonoscopies without sedation. In addition to offering clinical benefits during the procedure, GIC-1001's use does not require a recovery room or particular medical assistance post-colonoscopy. This colonic analgesic approach aligns well with the current global strategy to reduce healthcare costs.

"This financing will certainly translate into value creation for GIC-1001 which offers multi-level advantages for patients as well as for practicing gastroenterologists and third-party payers", said Maxime Ranger, Ph.D., president and chief executive officer, gIcare Pharma.

The financing was coiled by Forbion Capital Partners and Genesys Capital.