Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Trillium secures additional $12 Million
By siliconindia
|
Monday, 22 September 2008, 22:38 IST
Toronto: Trillium Therapeutics, a privately-held biopharmaceutical company specializing in the development of therapies for the treatment of immune-mediated disorders, announced that it has secured $12 million in new financing from its existing investors, VenGrowth Private Equity Partners, BDC Capital and Canadian Medical Discoveries Fund (CMDF).
"We are fortunate to have the continued support of some of Canada's premier venture capital investors, especially under these trying market conditions", commented Trillium CEO Dr. Niclas Stiernholm. "These funds will allow us to advance several programs into clinical development, elevating the company to a new level and opening up new strategic possibilities in 2009."
Trillium will use the majority of the proceeds to fund clinical trials of its lead product candidate, TTI-1612, a recombinant growth factor under parallel development for the prevention of necrotizing enterocolitis and the treatment of interstitial cystitis. TTI-1612 is on track to begin clinical testing by the end of 2008, and two additional trials are projected to commence in 2009.