On April 19, 2016, DalCor Pharma UK Ltd. (“DalCor”) announced that it successfully completed a USD$150 million venture financing in order to conduct a 5,000 patient trial of dalcetrapib, a cholesterol drug. DalcCor closed its USD$100 million Series B round this week after previously closing its USD$50 million Series A financing round in November 2015. Investors include Sanderling Ventures, André Desmarais, Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ, CTI Life Sciences and additional undisclosed investors.
Proceeds of the financing will fund a phase 3 clinical trial of dalcetrapib, a CETP inhibitor. Although Roche Holding AG dropped the pill after it failed to prevent heart attacks and strokes in a phase 3, or late-stage, study of nearly 16,000 patients, DalCor plans to target genetically distinct patients with cardiovascular disease.
Osler represented DalCor with a team led by Shahir Guindi and included Raphaël Amram, Sophie Amyot, Caitlin Wetherly and Guillaume Falardeau (corporate/securities), Mark Brender and Alain Fournier (tax).