Cytochroma secures $12-million private financing

Kingston ON-based Cytochroma Inc has closed a $12-million private equity financing to advance its R&D of therapeutics based on cytochrome P450-based metabolism. The Business Development Bank of Canada’s Venture Capital Division is the lead investor, with participation from Novo A/S (Denmark), GeneChem Technologies Venture Fund LP, Canadian Medical Discoveries Fund and Working Ventures Canadian Fund Inc. Cytochroma has already entered into collab- oration with Allergan Inc and is seeking new partnerships as it expands its pipeline of gene targets and drug candidates….