BRIEF—$35 million Series B financing round for Inversago Pharma

Canada’s Inversago Pharma has secured a $35 million (C$47 million) Series B financing round led by Forbion, with co-investment from the Fonds de solidarité FTQ, and strong participation from existing investors Genesys, JDRF T1D Fund, Amorchem, Anges Québec Capital, adMare BioInnovations and angels.

Proceeds will be used to develop Inversago’s best-in-class peripherally-acting CB1 inverse agonist candidate INV-101 to clinical proof-of-concept, and advance the research on other selected compounds.

Clinical and scientific data suggest that the peripheral CB1 pathway is activated in a majority of metabolic and fibrotic diseases, including Prader-Willi syndrome (PWS), NASH, type-1 diabetes and diabetic nephropathy; conditions with currently inadequate treatment options.

CB1 inhibition has previously shown to be an effective clinical treatment in several diseases and conditions, albeit with a CNS liability related to the central CB1 blockade.

Inversago compounds are peripherally-acting only, thus adopting a safe and potent approach.