Anges Québec members contribute to $530,000 investment in Ovensa
Montreal, June 8th, 2016 – Today Anges Québec announced its members are taking a stake in Ovensa, a biotechnology company. Members of Anges Québec and Aligo Innovation are joining with private investors to inject $530,000 into this Ontario firm, whose new technology delivers therapeutic molecules through oral administration to targeted human tissue, including the brain—a major medical advance.
In delivering medication directly to glioblastoma cells (brain tumours) and to Tau and beta amyloid proteins (which play a significant role in the development of Alzheimer’s disease), this technology will increase the efficacy of many treatments while reducing their toxicity.
“This new investment and support from members of Anges Québec and Aligo Innovation will be a boon in demonstrating the value of this new technology, given our plans to develop more personalized medications for patients in partnership with the pharmaceutical industry,” noted Stéphane Gagné, President of Ovensa. “This will lead to better results and drastically reduce treatment side effects that impact patients’ quality of life.”
For Christophe Goffoz, the angel investor leading the funding project, this type of biotechnology investment is particularly exciting because the benefits are more than just economic. “I think it is important to believe in these entrepreneurs who are working for the common good and pushing the limits of health science,” he said. “We believe in Stéphane Gagné, his internal and external team of reputed colleagues, his innovative technology, and the growth of Ovensa, which I predict will be both sustainable and exponential.”
Priyum Koonjul, director of business development and investment at Aligo, added that “our participation in this round of financing is in keeping with Aligo Innovation’s mission of developing the technologies developed by its partners. This initial investment from Aligo in technology created at the University of Quebec in Rimouski (UQAR) has attracted additional capital that will facilitate its development and commercialization. This is a great example of marine-derived blue biotechnology and is reflective of current global trends.”
In developing this advanced technology, Ovensa focused on cancer and brain disease, areas that present enormous challenges and where this technology will have a more significant impact.
Ovensa Inc. is a Canadian biotechnology company that capitalizes on its proprietary nanomedicine technology platforms, which deliver targeted oral therapy with mucosal and brain-barrier crossing properties. Ovensa focuses on developing personalized treatments for cancer and neurodegenerative diseases and on preventing antibiotic resistance. Therapeutic molecules, combined with Ovensa’s technologies, would likely benefit from delayed delivery and in situ targeting, improving bioavailability and resulting in better patient compliance.
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