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news.DalCor Pharmaceuticals has wrapped up a private financing round valued at $150m to continue the development of dalcetrapib in genetically distinct patients with acute coronary syndrome (ACS).
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Late in 2015, the company closed on a $50m Series A round, and completed its $100m Series B round this week.
The most recent round was led by founding investors Sanderling Ventures and André Desmarais, with participation from new investors Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ and CTI Life Sciences.
There was also significant participation by other investors who were not revealed.
The proceeds will be used to fund a phase 3 clinical trial of dalcetrapib, a cholesteryl ester transfer protein (CETP) inhibitor, in patients who have recently experienced ACS.
DalCor plans to start the trial this month at the Montreal Heart Institute. It will target 5,000 patients.
DalCor Pharmaceuticals CEO Robert McNeil said: "This trial represents a major step forward in cardiovascular medicine, opening new doors and creating therapeutic options for patients of specific genetic composition suffering from heart disease.
"We believe that targeting a genetically specific patient population with dalcetrapib has the potential to dramatically reduce cardiovascular risk in this select patient population and will demonstrate the long expected benefit of CETP inhibitors."
Dalcetrapib was originally developed by Japan Tobacco, Roche. It is one of four CETP inhibitors to have reached full-scale development.