Organization: GrowthWorks Capital

OneChip raises $17 million in latest VC round

Ottawa-based OneChip Photonics Inc, a developer of optical transceivers based on monolithic photonic integrated circuits for broadband applications, has raised $17 million. The series C venture financing brings its venture backing to date to $47 million. Northwater Capital Management joins existing investors — BDC Venture Capital, GrowthWorks Capital, DCM and Morgenthaler Ventures — in the…

Neuromed raises US$25M for clinical development

Neuromed Pharmaceuticals has raised an additional US$25 million in a series D financing that brings its cumulative venture capital financing to $74 million. The new capital will be used to advance development of its lead compound for the treatment of chronic pain and its second development program for the treatment of anxiety, epilepsy and cardiovascular…

Neurostream acquired by Victhom Human Bionics

Neurostream Technologies Inc, a Port Coquitlam-based spin-off from Simon Fraser Univ, has been acquired for $7.2 million by Victhom Human Bionics Inc of Quebec City. Neurostream founder Dr Andy Hoffer will continue as director of research and join the firm’s scientific advisory board. Publicly traded Victhom acquired Neurostream by issuing 4.529 million shares at $1.58…

Xenon Genetics seals major private placement

Xenon Genetics Inc has closed a $70-million private placement with an international syndicate of institutional, venture capital and pharmaceutical firms that it contends is the largest to date for an independent Canadian biotechnology firm. The funding will be used to advance its various drug discovery programs, develop its global network of clinical populations and databases,…

NeuroMed raises $17 million to further clinical trials

NeuroMed Technologies Inc, Vancouver, has bucked the cooling trend in biotechnology financing raised $17 million to take its pain compounds up to the beginning of Phase II clinical trials. Its R&D into neur-onal calcium blockers aims to develop alternative painkillers to morphine and neuroprotective drugs for stroke. The second-round private financing was provided by GrowthWorks…