Fibrocor Therapeutics formed to develop fibrotic disease treatments
German biotech firm Evotec (EVT: Xetra) and MaRS Innovation today announced the launch of Fibrocor Therapeutics, a Toronto, Canada-based company focused on developing first-in-class therapeutics targeting fibrotic diseases.
The company was launched with C$2.8 million (~$2.1 million) financing, which includes cash from MaRS Innovation, the commercialization agent for 15 of Ontario's leading academic institutions. Evotec will provide all drug discovery activities and will also receive an equity stake.
Fibrocor takes a new approach to understanding and treating fibrosis, bringing together clinical expertise and access to disease tissue with high-throughput molecular analysis infrastructure and expertise in clinically-predictive animal models of fibrosis.
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