NEW YORK, Aug 1 – Canadian proteomics company Integrative Proteomics of Toronto said it has raised $25 million in a second round of private financing, bringing total funding raised since the company’s inception one year ago to $33 million.
The company’s strategic partners, Aurora Biosciences, Bruker AXS, and Bruker Daltonics, participated in the round, as did investment funds Lombard Odier Immunology Fund and HBM BioVentures of Switzerland and Genesys Capital Partners of Toronto.
Integrative Proteomics said it would use the fresh influx of funding to expand its facilities and work with the Bruker companies to enhance its mass spectrometry, NMR spectroscopy, and X-ray diffraction technologies. The company also plans to build up its chemistry program to speed up the drug discovery process.
Integrative Proteomics uses Bruker’s mass spectrometry, NMR spectroscopy, and X-ray crystallography instruments to determine target structure and function.
The company also has an agreement with Aurora Biosciences, which is now a subsidiary of Vertex Pharmaceuticals, in the drug discovery area. Under the terms of the agreement, Aurora will screen Integrative Proteomics’ targets and has provided the company a license to its technology.
Integrative Proteomics, which has about 45 employees, is currently planning to open offices in the US in the near future.