Proceeds will support the development of new generations of cannabinoid-1 (CB1) receptor inverse agonists for the treatment of several metabolic diseases including Prader-Willi Syndrome (PWS) and type 1 diabetes (T1D).
MONTREAL (CANADA) – 25 July 2018 – Today Inversago Pharma Inc. (“Inversago”) announced that it has secured a $7 million series A financing to pursue its development plan and advance its CB1 platform as a potent treatment for targeted diseases.
The company’s first financing round was co-led by Genesys Capital and Amorchem, with participation from the JDRF T1D Fund, Accel-Rx, Anges Québec Capital, Anges Québec, Tarnagulla Ventures and angel investors. This funding will enable the company to advance its peripherally-restricted CB1 inverse agonist/antagonist program into clinical trials.
Inversago is developing new generations of CB1 receptor blockers. First generation CB1 blockers were previously in development by other major pharmaceutical companies for a range of metabolic conditions and showed striking efficacy in clinical trials. However, these third-party compounds were centrally-acting and led to psychiatric adverse events which caused the termination of all first generation CB1 inverse agonist programs.
Inversago’s technology, based on the work by CB1 world expert George Kunos at the National Institute of Health (NIH/NIAAA), has demonstrated that in preclinical models, peripherally restricted CB1 blockade provides a clear therapeutic potential to treat conditions like obesity, NASH, liver fibrosis and diabetes, without causing the CNS or behavioural effects associated with the earlier generations of CB1 blockers.
“This is an exciting time for Inversago as we launch operations and pioneer the comeback of CB1 inverse agonists”, announced François Ravenelle, Chief Executive Officer and Founder of Inversago. “CB1 blockade has already demonstrated much promise, and we are confident we have the right technology to exploit their full potential, starting with important unmet needs”.