Anges Québec and Aligo Innovation invest $1.38 million in Ovensa

Aurora, Ontario biotech company Ovensa has raised $1.38 million in follow-on financing backed by 22 members of angel organization Anges Québec, the affiliated Anges Québec Capital, and Aligo Innovation, a university research commercialization company.

Founded in 2012, Ovensa develops oncology-focused technology with mucosal and brain-barrier crossing properties that can deliver medication to hard-to-reach parts of the body like the brain. The company will use the funds to further develop its platform.

Due to its potential for delivering medication directly to targets such as brain tumors and to the Tau and beta amyloid proteins associated with the development of Alzheimer’s disease, Ovensa’s innovative technology could be used to increase the efficacy of many treatments while reducing their toxicity.

“This renewed confidence and additional financing from our investors show that they’re satisfied with the results achieved, the company’s rapid growth, and the effective management of financial resources in our first year of operations,” said Stéphane Gagné, president and CEO of Ovensa. “The new round of financing will allow us to forge ahead with promising developments in the areas of cancer treatment, antibiotic resistance prevention, and the delivery of medications to the brain.”

“Ovensa has done a good job building on its business plan over the past 18 months, and the securing of patents in the United States and Europe is an important step in protecting their intellectual property. We’re happy to support them in their development, not only for the economic potential of their technology, but for the potential impact it could have on the health of millions of people,” said Marcel Larochelle, the angel investor overseeing financing for the project.

“The investors have come to really trust this entrepreneur,” said Kalthoum Bouacida, vice president of investment at Anges Québec Capital. “In the first round, the company delivered the goods, and their go-getter attitude really impressed the members of Anges Québec, who firmly believe this innovative technology will be a success. We’re very proud to support Anges Québec members taking part in this second round of financing.”

The investment in Ovensa is only the most reason in a string of rounds raised for Canadian biopharmaceutical companies.

READ ALSO: SpecificiT wins seed funding for its cancer treatment therapy

READ ALSO: Clementia Pharmaceuticals prices IPO to generate up to $172 million

READ ALSO: Repare Therapeutics raises US $68 million Series A for their cancer treatment drugs




Add yours
  1. 3
    a coconut oil

    Simply wish to say your article is as surprising. The clearness in your post is simply excellent and i could assume you are an expert
    on this subject. Well with your permission allow
    me to grab your feed to keep up to date with forthcoming post.
    Thanks a million and please continue the enjoyable work.

  2. 4
    plenty of fish dating site

    Hey there I am so thrilled I found your blog, I really found you by mistake,
    while I was browsing on Digg for something else,
    Regardless I am here now and would just like to say thanks a lot for a
    remarkable post and a all round interesting blog (I also love
    the theme/design), I don’t have time to read through it all at the minute but I
    have book-marked it and also added in your RSS feeds,
    so when I have time I will be back to read a lot more, Please do keep up the excellent work.

  3. 6
    ps4 games

    Hi there would you mind letting me know which webhost you’re working with?
    I’ve loaded your blog in 3 completely different internet
    browsers and I must say this blog loads a lot quicker then most.
    Can you suggest a good web hosting provider at a reasonable price?
    Thank you, I appreciate it!

+ Leave a Comment