Funding Secured

Funding Secured

Details:

Canadian Institutes of Health Research (CIHR) Grant:

  • Secured $1.1M in non-dilutive funding from CIHR, a leading organization supporting cutting-edge health research in Canada.
  • The funding is allocated to support preclinical development of VE3, focusing on efficacy, toxicology, and biomarker validation studies.
  • This grant positions Theranib as a recognized leader in cancer research, validating the scientific and clinical potential of ALDH1A3-targeted therapies.

Internal Investment:

  • Theranib invested $500K of undiluted internal funding to accelerate early-stage development.
  • This funding supported:
    • Expansion of preclinical efficacy studies.
    • Advanced pharmacokinetics and pharmacodynamics research.
    • Early-stage manufacturing and stability testing for VE3.
  • The internal investment demonstrates Theranib’s commitment to rapidly advancing VE3 toward regulatory milestones while maintaining control over IP and strategic direction.

Achievements:

  1. Strategic Resource Allocation:
    • Combined resources were directed at critical preclinical studies to ensure efficient progress and minimize delays.
  2. Research Validation:
    • CIHR funding underscored the credibility of Theranib’s research, attracting potential investors and collaborators.
  3. Strengthened Financial Position:
    • With combined funding, Theranib built a solid foundation for advancing VE3 through IND-enabling studies.
  4. Increased Valuation Potential:
    • Non-dilutive funding helped preserve equity, increasing the company’s valuation and appeal to venture capitalists.

Strategic Impact:

The secured funding not only accelerated scientific progress but also bolstered Theranib’s reputation in the biotech community, laying the groundwork for future financial rounds and partnerships.