Feldan secures investment of over $1.7 million to support continued growth
Angel investors, the Anges Québec Capital fund, and other partners complete the fourth round of financing for the Quebec City–based SME
Quebec City, October 2, 2015 – Members of Anges Québec, the Anges Québec Capital fund, and other angel investors have given Feldan a $1,723,000 cash injection during a fourth round of financing. The Quebec City–based biotechnology firm, which develops cell therapy products, will use the capital to finalize the preclinical development of two applications and move them into the first clinical trial phase within two years.
This major investment was led by angel investor Xavier Harland on behalf of the members of Anges Québec, which came up with a total of $1,145,611, to which the Anges Québec Capital fund added $337,500. The FIER Succès contributed $50,000, and various other investors, mostly Feldan employees, added another $190,000.
Feldan has developed technology to send specific proteins directly to the cell nucleus. The company can now tackle the next stage in its evolution—moving the technologies it has developed into the initial clinical trial phase. These trials aim at demonstrating the potential of its technological platform in genetic modification and regulation of stem cells for cellular therapy.
Two applications will be at the center of this critical step, to be completed over the next two years. The first permits the use of a transcription factor to expend stem cells, and the second plays a role in cell therapy with genetic modification.
“The financing from our partners will allow us to shift toward applying our technologies in clinical trials. This is a critical stage in our development and our goal of realizing our full growth potential, and we are proud of the confidence our partners have shown in us during this round of financing.”
– François-Thomas Michaud, Feldan CEO
“Members were already convinced of Feldan’s capacity for innovation in the promising area of cell therapy, the quality of its research and management teams, and its potential for growth during previous financing rounds. The company has great growth potential in cell therapy combined with genetic modification, and is delivering solutions to problems in this area. We believe Feldan can become a leader in the field.”
– Xavier Harland, Anges Québec member and Gestion GFX president
About Anges Québec
Anges Québec is a network of 165 private investors that identifies, finances, and coaches innovative Quebec enterprises with high growth potential. In this capacity, Anges Québec works with a number of key Quebec organizations interested in the development and promotion of Quebec-based technological innovations. So far, Anges Québec members have made 77 investments and reinvestments in 53 promising businesses in the seed and startup phases.
A French version is available online at www.angesquebec.com/fr/nouvelles.
About the Anges Québec Capital fund
Anges Québec Capital is an investment fund set up to financially support the members of Anges Québec. Sponsored primarily by the Quebec government, Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, and Investissement Québec, the fund supports the angels who invest in innovative Quebec businesses in the seed or startup phase. This joint effort by angels and fund sponsors results in $85 million being made available to entrepreneurs, allowing them to benefit from more substantial financial leverage in order to considerably grow their business.
Feldan is a biotechnology company that collaborates with researchers and companies involved in regenerative medicine to improve people’s lives. The company provides high quality clinical ancillary materials, including cytokines, transcription factors, and other recombinant proteins critical to the development and application of cell therapy. Our team works side by side with our customers to provide products that are suitable for every development step, from research to bringing products to market. Furthermore, Feldan’s proprietary Shuttle Technology will help us gain the lead in the emerging market of regenerative medicine.
About Xavier Harland
An actuary by training, Xavier Harland is the president of Gestion GFX, a portfolio company that holds stakes in a range of private and publically traded companies. He is also a Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM). A member of Anges Québec since September 2014, he actively invests in startup companies in the health and technology fields. He has served on Feldan’s board of directors since July 2015. Prior to that, he was the chief financial officer of Acasti Pharma from March 2011 to June 2014, and the director of finance of Acasti Pharma’s parent company, Neptune Technologies & Bioressources, from 2004 to 2011. During his tenure at these companies, he led or took part in over $100 million in private and public financing rounds. He also steered these companies through the process of getting listed on the TSX, TSX-Venture, and NASDAQ stock exchanges.
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