On July 25, 2018, Inversago Pharma Inc. announced that it has secured a $7 million series A financing to pursue its development plan and advance its CB1 platform as a potent treatment for targeted diseases. Inversago’s first financing round was co-led by Genesys Capital and Amorchem, with participation from the JDRF T1D Fund, Accel-Rx, Anges Québec Capital, Anges Québec, Tarnagulla Ventures and angel investors.
This funding will enable Inversago to advance its peripherally-restricted CB1 inverse agonist/antagonist program into clinical trials.
Inversago is a specialized, preclinical-stage biotech company that develops new generations of peripherally-restricted cannabinoid-1 receptor (CB1) inverse agonists/ antagonists for the treatment of Prader-Willi Syndrome (PWS), type 1 diabetes (T1D), obesity and other metabolic disorders such as non-alcoholic steatohepatitis (NASH).
Genesys is one of the largest Canadian-based venture capital firms exclusively focused on the life sciences industry and on building companies in the high-growth sectors of healthcare and biotechnology.
Osler, Hoskin & Harcourt LLP represented Genesys with a team consisting of Chad Bayne, David Jamieson, Alana McElhinney (Corporate), Steve Dickie and Melanie Simon (Employment and Labour) and Inversago with Nathalie Beauregard, Marisa Corona, Tim Apedaile (Corporate) and Julien Ranger-Musiol (Pensions & Benefits).