EDMONTON, Alberta--(BUSINESS WIRE)--Entos® Pharmaceuticals (Entos), a clinical-stage genetic medicines company committed to using its Fusogenix™ PLV™ technology to develop cures and improve the lives of patients and their families, announced a $62 million investment from the Government of Canada. This further leverages the previously announced $15.5 million awarded to Entos from the Government of Alberta.
The $77.5 million total investment will support a $198.5 million project to create a state-of-the-art R&D centre and GMP biomanufacturing facility in Edmonton, Alberta, Canada. The project builds on the significant partnership Entos has with global healthcare leader Eli Lilly & Company to research, develop, and commercialize nucleic acid products targeting the central and peripheral nervous system, as well as other partnerships with companies such as Oisin Biotechnologies, OncoSenX, and Aegis Life, and to advance its therapeutic pipeline for cancer and rare genetic diseases like Congenital Lipodystrophy, Stargardt Disease and Duchenne Muscular Dystrophy.
As a hub for next-generation therapeutics, the facility aims to foster collaborations between Entos, Canadian academic institutions, and its industry partners. This effort will build expertise and knowledge to enhance Canada's life sciences sector, strengthen Canada’s position in the global biopharmaceutical market, and attract international investments, partnerships, and talent.
“Our government is protecting the Canadians of tomorrow by making the necessary investments today. By supporting the construction of this state-of-the-art facility in Edmonton, we are strengthening our capacity to produce cutting-edge therapeutics and vaccines, which will better equip Canada in responding to future health emergencies. We are resolved to foster innovation and secure a resilient life sciences ecosystem that will keep Canadians safe for generations to come.” The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.
“This new Edmonton facility means that Canada will get a greater capacity to develop lifesaving medicines right here in Canada. It strengthens our domestic biomanufacturing capacity which will lead to improved health outcomes for Canadians.” The Honourable Mark Holland, Minister of Health.
“Alberta’s life sciences sector is booming, and this new manufacturing facility and R&D centre from Entos will only add to the momentum. Alberta is home to many world-class researchers developing potentially ground-breaking new medicines and treatments that will literally save lives. This investment will support Alberta’s efforts to become the most innovative jurisdictions in Canada.” The Honourable Nate Glubish, Minister of Technology and Innovation for Alberta.
“This extraordinary investment from the federal and provincial governments ensures Alberta—and the University of Alberta—continues to play a leading role in strengthening Canada’s biomanufacturing and pharmaceutical sector. This new research facility will advance research and innovation and improve health outcomes for people in Canada and worldwide,” said Bill Flanagan, President and Vice-Chancellor, University of Alberta.
“We are thrilled to receive this investment, which will enable us to build a cutting-edge GMP biomanufacturing facility and innovative R&D centre in Edmonton, Alberta, Canada,” said John Lewis, CEO, Entos Pharmaceuticals. “It will help us develop, scale up, produce, and commercialize Fusogenix PLV therapeutics to address critical health needs and fill gaps in Canada’s domestic manufacturing capacity.”
Entos is a University of Alberta spin-off company that emerged from the Faculty of Medicine & Dentistry to take research discovery and innovation from the lab and scale up for developing and manufacturing advanced medicines.
About Entos Pharmaceuticals Inc.
A new reality in genetic medicine lies ahead, one that will be ushered in with the advent of safe, effective, and re-dosable nucleic acid delivery technologies. Since its inception in 2016, Entos® has been dedicated to advancing next-generation genetic medicines using our proprietary Fusogenix™ PLV™ drug delivery system. The Fusogenix PLV platform is formulated with FAST proteins to enable the delivery of nucleic acid to target cells through direct fusion. Entos is pioneering the development of life-changing medicines for patients and has partnered with global companies, such as Eli Lilly, to accelerate and expand the impact of our platform. Entos Pharmaceuticals Inc. is headquartered in Edmonton, Canada, with its wholly owned U.S. and U.K. subsidiaries based in San Diego, California and London, United Kingdom, respectively. For more information, visit www.entospharma.com, or follow Entos on LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements contained in this press release include statements regarding Entos and its belief as to the mode of action and potential and benefits of the Fusogenix proteolipid vehicle platform and other statements related to anticipated developments in the Company’s business and technologies. In any forward-looking statement in which Entos expresses an expectation or belief as to future results, such expectations or beliefs are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that the statement or expectation, or belief will be achieved. Such forward-looking statements involve known and unknown risks and uncertainties, which could cause the Company’s actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the efficacy of Fusogenix as a nucleic acid delivery vehicle, uncertainties related to the research and development of pharmaceuticals, uncertainties related to the regulatory process and general changes to the economic environment. We may incur expenses or delays relating to such events outside of our control, which could have a material adverse impact on our business, operating results, and financial condition. Investors should consult with the U.S. Securities Commission for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements except as required by applicable laws.
Entos® word mark and design logo, Fusogenix™ and PLV™ are registered trademarks of Entos Pharmaceuticals Inc. All other trademarks and registered trademarks are the property of their respective owners.
