AmacaThera closes of oversubscribed Series A financing

On February 22, 2021, AmacaThera Inc. (“AmacaThera”) announced that it completed an oversubscribed C$10.3 million Series A financing to support development of AMT-143, the company’s lead clinical asset, and pipeline expansion. The Series A round was led by Lumira Ventures and includes a global investor syndicate of existing investors, Viva BioInnovator and Sprout BioVentures, as well as new investors, BDC Capital Women in Technology (WIT) Venture Fund, Inveready, MBX Capital, CR Capital Management, StandUp Ventures, and MaRS IAF.

AmacaThera’s proprietary hydrogels enable local, sustained release of small-molecule drugs, biotherapeutics, and cells. These scalable materials have shown broad utility in several models of disease by protecting encapsulated biomolecules from degradation and clearance via their unique inverse thermogelling properties. AmacaThera’s lead product, AMT-143, is being developed for the treatment of post-surgical pain to materially reduce, and ideally prevent, the need for opioid-based pain relief by providing patients with a single injection administered at the time of surgery.

Further information can be found on Business Wire’s website.

AmacaThera is a Toronto-based clinical-stage company redefining how therapeutics are delivered. It has developed a platform hydrogel technology that addresses the critical problem of sustaining therapeutic delivery of pharmacological agents for multiple disease areas. Its lead product addresses post-operative pain and consequently may have an impact on the opioid crisis.