On October 25, 2018, Milestone Pharmaceuticals Inc. (“Milestone”) completed an US$80 million private financing. The equity financing included the support of new and existing institutional investors. Among new investors were RTW Investments, LP, who led the round, Venrock Healthcare Capital Partners, and Boxer Capital of Tavistock Group. Existing investors included Novo Holdings A/S, Forbion, funds managed by Tekla Capital Management LLC, Domain Associates, BDC Capital, Pappas Capital, GO Capital, and Fonds de solidarité FTQ. This builds on the company's prior series C financing, led by Novo Holdings, which occurred in July 2017.
The proceeds will be used to support the execution of the Company's ongoing Phase 3 clinical program and select commercial pre-launch activities of etripamil, an investigational new drug for the treatment of paroxysmal supraventricular tachycardia (PSVT). Additionally, the financing will help fund the expansion of the Company's pipeline, including studies of etripamil in other cardiovascular indications where calcium channel blockers have demonstrated utility.
Milestone, headquartered in Montreal, Canada with a U.S. subsidiary in Charlotte, N.C., is a late-stage biopharmaceutical company focused on developing an investigational new drug intended to provide rapid-onset and short-acting treatment of paroxysmal supraventricular tachycardia (PSVT) episodes and other episodic conditions.
Osler, Hoskin & Harcourt LLP represented Milestone with a team consisting of Nathalie Beauregard and Daniel Stysis (Corporate).