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Giiant Pharma extends seed round with $1.25M

June 30, 2021 By Sean Whooley

GIIANT PharmaGiiant Pharma announced today that it added $1.25 million to its seed financing round to ensure reaching clinical proof-of-concept for its Precision Delivery technology platform.

Montreal-based Giiant’s $750,000 in funding from AQC Capital, plus $500,000 from CQDM, adds to the seed round closed last month to bring the company’s total funding to nearly $15 million.

According to a news release, the additional financing will help support the development of the company’s GT-2108 up to clinical Phase 1b completion. The company designed GT-2108 for treating moderate-to-severe ulcerative colitis. Last month, the company said it is also discussing the potential expansion of its pipeline for treating gastrointestinal disease.

Giiant develops the Precision Delivery technology platform, which originated from the work of former Merck Frosst scientists, according to a news release. The company designs gut-restricted, tissue-specific, small-molecule drug therapeutics to be delivered through the platform. President and CEO Maxime Ranger said in May that Precision Delivery is an “exciting concept” that could potentially “transform the field of gastroenterology.”

“This is an exciting time for Giiant Pharma as we launch our lead program GT-2108, in additional to our Drug Hunting Club for pipeline expansion,” Ranger said in today’s release. “Our innovative technology platform will transform the field of gastroenterology.”

Filed Under: Business/Financial News, Drug-Device Combinations, Featured, Funding Roundup, Pharmaceuticals, Preclinical Trials Tagged With: Giiant Pharma

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at swhooley@wtwhmedia.com.

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