CPE News (12/9/2020) – Qu Biologics Inc. has completed an $8 million bridge round of financing with investments from Canadian, US, European and Asian investors.
Qu Biologics is a clinical stage biotechnology company developing Site Specific Immunomodulators (SSI), a novel class of immunotherapies designed to stimulate an innate immune response in targeted organs to reverse the chronic inflammation underlying many important diseases including inflammatory bowel disease, cancer, inflammatory lung disease and arthritis.
Qu Biologics will use the funds to expand its team and capacity and progress its proprietary immunotherapy platform.
“We are pleased to have oversubscribed our bridge round based on the promising interim data from our RESTORE trial and we are looking forward to the important full data from our two studies, which will both complete in the first half of 2021. Our first-in-paradigm platform is designed to safely achieve immune balance and healing by restoring multiple important immune functions simultaneously – we are excited about our unique and novel treatment’s transformational potential in preventing and treating cancer and chronic disease.” – Hal Gunn, MD, CEO of Qu.
photo credit: Qu Biologics
News Release
Qu Biologics Completes $8M Financing
VANCOUVER, British Columbia, Dec. 09, 2020 (GLOBE NEWSWIRE) — Qu Biologics Inc., a private clinical stage biopharmaceutical company developing Site Specific Immunomodulators (SSIs), a novel platform of immunotherapies designed to restore innate immune function, is pleased to announce an oversubscribed $8 million financing. With the proceeds, Qu Biologics will complete stage 1 of the RESTORE Phase 2 clinical trial for patients with moderate to severe Crohn’s disease and its Phase 2 Study to assess activation of anti-cancer immune response in colon cancer.
“We are pleased to have oversubscribed our bridge round based on the promising interim data from our RESTORE trial and we are looking forward to the important full data from our two studies, which will both complete in the first half of 2021,” said Hal Gunn, MD, CEO of Qu. “Our first-in-paradigm platform is designed to safely achieve immune balance and healing by restoring multiple important immune functions simultaneously – we are excited about our unique and novel treatment’s transformational potential in preventing and treating cancer and chronic disease.”
Qu Biologics will use the funds raised to expand its team and capacity and progress its proprietary immunotherapy platform.
For more information about Qu Biologics and the science behind SSIs, please visit www.qubiologics.com.
About Qu Biologics
Qu Biologics is a clinical stage biotechnology company developing Site Specific Immunomodulators (SSI), a novel class of immunotherapies designed to stimulate an innate immune response in targeted organs to reverse the chronic inflammation underlying many important diseases including inflammatory bowel disease, cancer, inflammatory lung disease and arthritis. Qu has completed three Phase 2 studies in Crohn’s disease, ulcerative colitis and lung cancer and has two Phase 2 studies underway in Crohn’s disease and colon cancer.
Backed by a prestigious group of scientific advisors and board members, Qu Biologics is led by a management team that includes co-founder and CEO Dr. Hal Gunn, a physician and expert on the body’s immune response to chronic disease; and Chief Medical Officer Dr. Simon Sutcliffe, former CEO of the BC Cancer Agency and a distinguished clinician, scientist and leader in cancer control in Canada and internationally.
For more information regarding this press release, contact:
Hal Gunn, MD
CEO
Qu Biologics Inc.
Phone: 604.734.1450
Email: media@qubiologics.com