{"id":1756,"date":"2024-09-16T13:08:32","date_gmt":"2024-09-16T13:08:32","guid":{"rendered":"https:\/\/admarebio.com\/news-events\/news-insights\/"},"modified":"2026-06-26T18:44:02","modified_gmt":"2026-06-26T18:44:02","slug":"find-therapeutics-announces-the-closing-of-a-convertible-note-financing-with-investissement-quebec","status":"publish","type":"post","link":"https:\/\/admarebio.com\/news-events\/news-insights\/find-therapeutics-announces-the-closing-of-a-convertible-note-financing-with-investissement-quebec\/","title":{"rendered":"Find Therapeutics Announces the Closing of a Convertible Note Financing with Investissement Qu\u00e9bec"},"content":{"rendered":"\n<p><strong>MONTREAL, September 16, 2024<\/strong>&nbsp;\u2013 Find Therapeutics Inc., a biopharmaceutical company focused on the development of innovative therapies for autoimmune diseases, today announced the closing of a $8.1 million (CAD$11 million) convertible note financing led by Investissement Qu\u00e9bec with participation from current investors CTI Life Sciences Fund and adMare BioInnovations. The proceeds of the convertible note will be used to advance FTX-101 into Phase 1 clinical studies.<\/p>\n\n\n\n<p><br>\u201cWe are excited to welcome Investissement Qu\u00e9bec as a new investor in Find,\u201d said Philippe Douville, CEO of Find. \u201cWith the recent clearance of the IND by the FDA and this new investment by Investissement Qu\u00e9bec and our current investors, we are able to accelerate FTX-101 into the clinic to bring a much-needed myelin repair therapy to patients.\u201d<\/p>\n\n\n\n<p><br>The Phase 1 clinical trial is anticipated to commence in Q4 2024 and is designed to evaluate safety, tolerability, and pharmacokinetics of FTX-101 across different dose levels in healthy volunteers.<br>\u201cInvestissement Qu\u00e9bec is proud to assist Find Therapeutics in its innovation and development efforts and to help fill a gap in the capital chain for young biotech businesses,\u201d said Bicha Ngo, President and CEO of Investissement Qu\u00e9bec. \u201cThrough our support for the company, we are contributing to the launch of its clinical studies and enabling it to deliver on the next phases of growth, with the ultimate aim of promoting better visual health.\u201d<\/p>\n\n\n\n<p><br><strong>About FTX-101<\/strong><br>Find&#8217;s lead compound, FTX-101, is a first-in-class remyelinating agent that aims to restore vision in people suffering from Chronic Optic Neuropathy (CON). FTX-101 is a rationally designed therapeutic peptide that targets Plexin A1 and Neuropilin 1, a receptor complex present in the brain that has been shown to be involved in the migration and differentiation of oligodendrocyte precursor cells into myelinating oligodendrocytes. Compelling preclinical data for FTX-101 in demyelinating models show strong myelin repair activity.<\/p>\n\n\n\n<p><br><strong>About Investissement Qu\u00e9bec<\/strong><br>Investissement Qu\u00e9bec\u2019s mission is to play an active role in Quebec\u2019s economic development by stimulating business innovation, entrepreneurship, and business acquisitions, as well as growth in investment and exports. Operating in all the province\u2019s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Qu\u00e9bec Innovation. In addition, through Investissement Qu\u00e9bec International, the Corporation prospects for talent and foreign investment, and assists Quebec businesses with export activities.<\/p>\n\n\n\n<p><br><strong>About Find<\/strong><br>Find Therapeutics is dedicated to the development of next generation therapies to treat inflammatory autoimmune diseases. The company was launched in 2020 with investments from CTI Life Sciences, adMare BioInnovations and Domain Therapeutics and an exclusive license from Strasbourg University on a technology and related know-how initially developed by Dr. Dominique Bagnard. Visit www.findtherapeutics.com for more details about Find Therapeutics.<\/p>\n\n\n\n<p><br>Investor Contact:<br>Argot Partners<br>Sam Martin<br>646-233-4302<br>Find@argotpartners.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MONTREAL, September 16, 2024&nbsp;\u2013 Find Therapeutics Inc., a biopharmaceutical company focused on the development of innovative therapies for autoimmune diseases, today announced the closing of a $8.1 million (CAD$11 million) [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":1650,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"company":[83],"class_list":["post-1756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-portfolio-companies"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Find 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