DalCor Pharmaceuticals secures $80m in Series D financing

• The round was backed by Fonds de Developpement Économique managed by Investissement Québec and Fonds Propres d’ Investissement Québec
• Existing investors, such as Andes Growth, TB Pharma, Fonds de solidarité FTQ and CTI Life Sciences, also participated
• The funds raised will support conduct of the Dal-GenE-2 confirmatory trial in North America under a special protocol assessment agreement with the US FDA

DalCor Pharmaceuticals, a Montreal-based biopharmaceutical company with a focus on addressing cardiovascular disease, has secured $80 million in Series D financing.

The round was backed by Fonds de Developpement Économique managed by Investissement Québec and Fonds Propres d’ Investissement Québec. Existing investors, such as Andes Growth, TB Pharma, Fonds de solidarité FTQ and CTI Life Sciences, also participated.

The funds raised will support conduct of the Dal-GenE-2 confirmatory trial in North America under a special protocol assessment agreement with the US Food and Drug Administration (FDA).

Dal-GenE-2 (Dal-302), a phase III, double-blind, randomized placebo-controlled study, will evaluate the potential of dalcetrapib to reduce the occurrence of fatal and non-fatal myocardial infarction in about 2,000 patients with a documented recent acute coronary syndrome and the AA genotype at variant rs1967309 in the ADCY9 gene.

“Following the dal-GenE trial results showing a potential benefit in a genetically defined patient population, we are pleased to have reached agreement with the FDA to conduct the Dal-GenE-2 confirmatory trial to support a potential new drug application (NDA) filing,” said Dr. Fouzia Laghrissi Thode, CEO of DalCor Pharmaceuticals, in a statement.