Specific Biologics Closes Seed Financing with Industry Leaders Lumira Ventures and adMare BioInnovations
Summary
Specific Biologics is an early-stage biotechnology company developing its proprietary two-site Dualase™ platform gene editors to build a pipeline of treatments for serious genetic diseases. "Based on our early work with Dualase™, we believe it will have broad utility across a number of diseases with high unmet need," said Dr. Brent Stead, CEO of Specific Biologics Inc. "This investment by Lumira and adMare, two recognized leaders in life sciences, will help accelerate the advancement of our promising platform, and a pipeline of differentiated Dualase™-based gene editing therapeutics in a diverse range of indications." Data suggest that Dualase™ has the potential to overcome these well-known challenges in relevant therapeutic indications," noted Dr. Daniel Hetu, Managing Director at Lumira Ventures. "Built on the work of Dr. David Edgell at Western Universitys Schulich School of Medicine & Dentistry, Specific Biologics represents another example of how Canadian health science innovators are at the leading edge of treatment modalities," added Nikhil Thatte, Principal at Lumira Ventures. The partnership with Lumira recognizes the complementary nature of our organizations resources, expertise, and roles in the ecosystem, and has resulted in our firms aligning to co-identify, support, and advance opportunities of mutual interest in a range of development stages.