Damona Pharmaceuticals Raises Us$5.5 Million Seed Stage Financing To Advance Lead Molecule Development To Treat Cognitive Deficits Associated With Depression And Diseases Of Aging
Amount Raised
$5.5 Million
Round Type
Seed
TorontoBiotechnologyHealth CareTherapeuticsPharmaceuticalDescription
TORONTO, ON / September 26, 2022 / DAMONA Pharmaceuticals today announced the closing of a seed stage financing round to support the development of its lead therapeutic for the treatment of cognitive symptoms associated with depression and diseases of aging. The syndicated investment was co-led by the Angelini Lumira Biosciences Fund and Noetic Fund and included participation from Toronto Innovation Acceleration Partners (TIAP), and several family offices. In addition to the equity financing, the company has received significant financial support from the Centre for Addiction and Mental Health (CAMH), the Ontario Brain Institute and additional early stage development programs. Proceeds from these financings will support the development of the company, its lead AC-101 which was licensed from CAMH, UWM Research Foundation Inc., University of Tours and University of Belgrade-Faculty of Pharmacy, and additional early stage development programs.
Quick answer
Damona Pharmaceuticals raised $5.5 Million in a Seed round, dated September 26, 2022. Damona Pharmaceuticals is based in Toronto, Ontario, Canada.
- How much did Damona Pharmaceuticals raise?
- Damona Pharmaceuticals raised $5.5 Million in a Seed round on September 26, 2022.
- What does Damona Pharmaceuticals do?
- Damona Pharmaceuticals (formerly Alpha Cog) is a preclinical pharma spinoff founded by the Centre for Addiction and Mental Health (CAMH) and Dr. Etienne Sibille.
- Where is Damona Pharmaceuticals based and how big is it?
- Damona Pharmaceuticals is based in Toronto, Ontario, Canada.
- Who are the decision-makers at Damona Pharmaceuticals?
- Fundz holds 1 contact at Damona Pharmaceuticals, including the Board Observer. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Therapeutics and Pharmaceutical around the same time
Companies in the same sectors as Damona Pharmaceuticals that raised within 45 days of this round, from Fundz verified event records.
- Lipidio Pharmaceuticals raised an undisclosed amount (Series A) on November 10, 2022.
- NRx Pharmaceuticals raised $11M (Debt Financing) on November 7, 2022.
- MBX Biosciences, Inc. raised $47M on November 7, 2022.
- Biofrontera raised $3.7M (Seed) on October 25, 2022.
- Qnovia raised $17M (Series A) on September 28, 2022.
- CASI Pharmaceuticals raised an undisclosed amount on September 23, 2022.
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