For Immediate Release
viDA Therapeutics Inc. Completes Initial Tranche of
Seed Financing of $2.9 Million
Vancouver, British Columbia (July 28, 2011) viDA Therapeutics Inc. (viDA), a private
biotechnology company, is pleased to announce the raise of $2.9 million in the initial tranche of a seed
round, equity financing. viDA is pursuing the discovery and development of novel, first-in-class drugs that
inhibit the granzyme family of serine proteases for the treatment of several chronic inflammatory and agerelated diseases.
The financing was led by BDC Capital Inc. and included support from a number of Angel investors. The
receipt of the final $750,000 tranche of this financing is subject to completion by viDA of certain
milestones related to viDA’s lead compound.
viDA was incorporated in 2008 as a spin-off company from the University of British Columbia, based on
the research of founding scientist and Chief Scientific Officer, Dr. David Granville. The Company’s focus
is specifically on extracellular Granzyme B (GzmB) and its role in a range of disease states involving
inflammation and tissue damage. Extracellular GzmB actively participates in degradation of key
components of the body’s extracellular matrix, which acts as a scaffold for cell binding and provides
essential structural integrity for proper function of tissues and organs. viDA’s aim is to show the clinical
potential of inhibiting extracellular GzmB in the area of dermatology first, before attempting clinical
development in other indications. viDA’s lead compound is in preclinical development and is intended to
be a topical treatment for non-healing, chronic skin ulcers.
“Development of inhibitors of extracellular GzmB can potentially support a rich pipeline of therapeutic
programs in the areas of chronic inflammation and age-related diseases," said Alistair Duncan, President
and CEO of viDA Therapeutics Inc. "This Seed financing, led by a strong venture capital organization, will
allow us to advance the development of our lead compound toward clinical studies in a chronic
dermatology indication."
Concurrently with the Seed financing, Mr. Charles Cazabon, Managing Partner at BDC Venture Capital
will join existing independent directors, Dr. Julia Levy, Dr. Richard Glickman and Mr. Don Campbell on
the Board of Directors of viDA.
"viDA has assembled a highly skilled scientific and management team," commented Mr. Cazabon. "The
Company is building a strong intellectual property position in the field of inhibition of extracellular
Granzyme B and is in a position to be a leader in this new field."
About viDA Therapeutics
viDA Therapeutics, Inc. is a platform-based, biotechnology company that is developing first in class
therapeutics, across a broad range of diseases, that capitalize on its recent discovery of a new mechanism of
action for a well characterized protease target, Granzyme B (GzmB). This is emerging science potentially
leading to new treatments for fibrotic, autoimmune, degenerative and age-related chronic inflammatory
diseases and is pivotal in understanding the underlying causes of diseases affecting vasculature, skin,
musculoskeletal and potentially neurological systems. GzmB is one of a family of five serine proteases now
emerging as key targets for drug development given recent discoveries of their extracellular actions. viDA
is developing a suite of granzyme inhibitors designed for multiple routes of administration to treat chronic
and orphan skin conditions, fibrosis, rheumatoid arthritis, and cardiovascular disease. For more
information, please visit www.vidatherapeutics.com.
About BDC Venture Capital
BDC Venture Capital helps great ideas become great companies. With more than $1 billion in current and
planned investments and 25 years of experience in venture capital, BDC Venture Capital focuses on
innovative IT, health, and energy/clean technology companies, as well as venture funds, with high growth
potential. BDC Venture Capital works with entrepreneurs and venture capital investors in the private sector
to build outstanding Canadian companies. BDC Venture Capital is involved at every stage of the
development cycle, from seed through expansion to exit, and its goal is to deliver excellent return on
investment, while working to create a sound financial ecosystem for Canadian technology ventures. Find
out more at www.bdc.ca/vc or on Twitter @BDC_VC.
Contact
Alistair Duncan, BSc, CA
viDA Therapeutics Inc.
Tel: 778.373.0916
info@vidatherapeutics.com