Aquinox completes US$14.5 million financing

Vancouver-based Aquinox Pharmaceuticals Inc has completed a US$14.5-million series ‘A' financing to further develop targeted small molecules therapeutics based on its proprietary SH2-containing inosital phosphatase biochemical enzyme. The enzyme regulates the PI3K pathway for regulating cell growth and survival and immune cell regulation. Aquinox is a spin-off from the Univ of British Columbia and BC Cancer Agency and founded on the research of its four founding scientists — Drs Raymond Anderson, Gerald Krystal, Alice Mui and Christopher Ong. The lead investor is Ventures West Capital Ltd and includes Johnson & Johnson Development Corp, Baker Brothers Corp and BC Advantage Funds.