LQT Therapeutics, Inc. (LQTT) a pharmaceutical company pioneering the development of precision therapies for genetic heart diseases, today announced the successful completion of a US$19 million Series A financing.
| - Company established with world-class research from leading academia and industry leaders LAVAL, QC, Aug. 10, 2021 /PRNewswire/ - LQT Therapeutics, Inc. (LQTT) a pharmaceutical company pioneering the development of precision therapies for genetic heart diseases, today announced the successful completion of a US$19 million Series A financing. LQTT is advancing a series of in-licensed compounds discovered and developed by Sanofi S.A. (Paris, France) which inhibit Serum/Glucocorticoid Regulated Kinase 1 (SGK1). Recent research conducted by the company’s founders confirmed the role of this novel kinase as a key contributor of inappropriate sodium regulation in various arrhythmias including Long QT Syndrome. Further investigation also validated the effects of SGK1 inhibition on cell proliferation pathways in prostate and colorectal cancers. Additional roles for upregulated activated SGK1 on various metabolic pathways continue to be discovered which LQTT intends to explore opportunistically.
Over the past 12 months LQTT has successfully reproduced the positive effects of SGK1 inhibition in stem-cells of patients with Long QT Syndrome and various in vitro models of cell proliferation for prostate cancer and anticipates presenting this new data at an upcoming scientific conference. Based on this data LQTT has designated a series of promising SGK1 inhibitors for IND-enabling studies and eventual human use. Proceeds from this financing will advance and expand the company’s portfolio of SGK1 inhibitors through phase 1 human clinical studies. “The enthusiasm from our investors is a reflection of breakthrough science, hard work and dedication of our scientists, founders and collaborators all sharing a vision to transform the lives of patients suffering from Long QT Syndrome and other devastating diseases,” said Paul F. Truex, Chairman and Chief Executive Officer of LQT Therapeutics. “The investment of resources and expertise by our new shareholders and Sanofi’s willingness to provide exclusive access to their intellectual property will be instrumental for us to advance our therapeutic programs. We are thankful for the efforts of our founders Dr. Anthony Rosenzweig, Dr. David Milan and Dr. Saumya Das, whose initial research uncovered this truly novel approach to treat rare arrhythmias and Dr. Marc Vidal who worked tirelessly over the past 18 months to advance our research while serving as a member of our Board of Directors.” The Series A financing was led by Amplitude Ventures and included new investments from Lumira Ventures, Amzak Health, Alexandria Venture Investments, founding investor Fonds de solidarité FTQ, founding scientists and members of the management team. As part of the financing Jean-François Pariseau from Amplitude, Daniel Hétu, MD from Lumira Ventures, and Scott Weiner from Amzak Health will join the Board of Directors. Additionally, Dr. Debra Odink will join the company as Chief Development Officer and Senior Vice President of Technical Operations. Having started her career at Roche, Dr. Odink spent the last 25 years in various leadership roles across multiple disease areas culminating in the successful commercialization of several pharmaceutical products and corporate outcomes. Dr. Philip Sager will join the company as Chief Medical Officer to provide regulatory and clinical development guidance to the company’s lead program. Finally, Dr. Saumya Das, a founder will continue to provide clinical and scientific expertise to our Long QT Syndrome program. “Looking back at the progress that Paul, the founders and the LQTT team have made since we seeded this team in 2019 is so exciting,” added Geneviève Guertin, Vice President for Investments, Life Sciences at Fonds de solidarité FTQ. “This project is the first of a new initiative in which the Fonds acts as a founding shareholder along with successful entrepreneurs. We are pleased to be joined today by such a great group of investors, with whom we will support LQTT into its next phase” “We’re excited to partner once again with this highly-skilled management team to support LQTT’s goals in becoming a leader in precision cardiology”, commented Jean-François Pariseau, co-founder and partner at Amplitude Ventures. “Rare and orphan cardiovascular diseases are a high need area—ideal for a more precision approach for diagnosis and treatment” Inquiries: Info@lqttrx.com About LQT Therapeutics LQT Therapeutics, Inc. is pioneering a precision medicine approach to treat patients with Long QT Syndrome and potentially other arrhythmias based on research from Beth Israel Deacons Medical Center, Massachusetts General Hospital, and Sanofi, S.A. By combining leading-edge cardiovascular genetics and diagnostics with recent advances in the understanding of the role of SGK1, LQT Therapeutics seeks to make a meaningful difference in the lives of people suffering from Long QT Syndrome and resistant cancers. Launched in 2019 by the Fonds de solidarité FTQ. LQT Therapeutics was founded by world-class experts in cardiovascular disease, cardiac muscle biology and drug development. For more information, please visit www.lqttrx.com About Our Investors Amplitude Ventures The Fonds de solidarité FTQ Lumira Ventures Amzak Health Alexandria Venture Investments
SOURCE LQT Therapeutics Inc. |
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