Second close of financing
MONTREAL--(BUSINESS WIRE)--Neurenati Therapeutics is delighted to announce the Quebec Government’s investment of $1.38 million via its Impulsion PME program, for which Investissement Québec acts as agent. With the addition of angel investors, this brings the total funding to $2.9 million needed for Neurenati to effectively advance NEU-001 toward clinical trials. NEU-001 is a proposed first-in-class therapy to treat Hirschsprung's disease, a rare gastrointestinal disease affecting approximately 1,300 newborns in North America each year.
“The financial support from Impulsion PME will first allow the development of an optimal formulation for this curative treatment and to move quickly towards clinical trials,” says Maxime Ranger, President and CEO of Neurenati.
“We must continue to support our companies in the life sciences sector. By encouraging young innovative companies, like Neurenati, we promote the emergence of new treatments, and this makes a real difference in the lives of the Quebec population,” says Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister responsible for Regional Economic Development, and Minister responsible for the Metropolis and the Montreal Region, Quebec Government.
“Investissement Québec is proud to support innovative companies which, like Neurenati Therapeutics, work to develop solutions to improve the lives and health of children and their parents. Thanks to Impulsion PME, we have an additional tool to contribute to the emergence and growth of promising young local actors in the life science ecosystem,” adds Bicha Ngo, CEO of Investissement Québec (IQ).
Neurenati still targets the end of 2025 to file a clinical trial application in Canada and the United States. Moreover, the Company is always looking for other technologies in the field of rare diseases, especially in pediatrics.
Neurenati gratefully thanks CQDM for its support as entité de référence et d’accompagnement during the due diligence process with IQ.