Organization: Royal Bank Capital Partners

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…