Monday June 22nd, 2020
Montreal, June 22, 2020. CQDM is pleased to announce an investment in Mesentech Inc., an emerging biotech based in Vancouver, British Columbia, developing a bone-targeting technology platform to deliver drugs selectively to bone-tissue. The lead program, MES-1007, aims to restore bone density and strength in conditions such as osteogenesis imperfecta (brittle bone disease), congenital muscular dystrophies (including Duchenne), renal osteodystrophy and age related bone-loss.
CQDM through its Quantum Leap program and in conjunction with a biopharma partner is making a $1.5 M investment designed to fund Mesentech through a preclinical safety study for MES-1007.
“CQDM’s investment in Mesentech is a great example of how we can assist early-stage Canadian biotech companies to derisk very promising technologies and how CQDM can fill an important gap in translating research to create value across Canada”. said Jesse Paterson, CQDM’S Senior Director, Business development.
“The successful completion of this safety study will validate Mesentech’s bone-targeting platform’s ability to deliver small-molecule payloads to bone-tissue and will catalyze the development of a variety of therapies for the treatment of bone diseases” said Jonathan Polak Mesentech’s CEO.
CQDM is a biopharma-based research consortium created in 2008 with the mission to fund the development of innovative technologies to accelerate the discovery and development of drugs and vaccines. Its business model is based on a collaborative approach bringing together world-leading pharmaceutical organizations, Canadian biotech companies as well as the Canadian and Quebec governments who share the costs of the research. CQDM uses this leverage to reduce the risks inherent to early-stage biopharmaceutical research. In doing so, CQDM bridges the funding gap needed to drive innovation across the academic and private sectors, especially where early-stage research is concerned. CQDM receives contributions from Quebec’s Ministry of Economy and Innovation (MEI), from large pharmaceutical companies, and from the Government of Canada under the Business-Led Networks of Centres of Excellence Program (BL-NCE). For more information: http://www.cqdm.org/en
Mesentech is a Vancouver-based biotechnology company dedicated to developing platform technologies to treat diseases and conditions of bones. Dr. Robert Young, founder of Mesentech, spearheaded the discovery of life-changing therapeutics such as Singulair® and Arcoxia® while leading medicinal chemistry at the Merck Frosst Centre for Therapeutic Research in Montreal.