MARKHAM, ON, Sept. 20, 2017 Edesa Biotech Inc., a clinical-stage private company announced today the completion of a $7 million Series A financing. The internationally syndicated investment was led by Lumira Capital and included participation from Pharmascience Inc., Inveready Technology Investment Group and a number of Canadian family offices. The funds from this financing will be used to support the growth and continued development of Edesa Biotech's innovative product pipeline.
“We have known the leadership team at Edesa for some time and started working with them on this opportunity last year. We shared their view on the market need and welcomed the opportunity to work more closely with a thought leader and serial entrepreneur like Dr. Nijhawan who had previously built and sold Medical Futures Inc. to Tribute Pharmaceuticals in 2015. This is a really terrific financing syndicate and we look forward to working closely with them and the management to develop the existing products as well as exploring new opportunities to leverage our activities in the sector.””