Receptor Therapeutics raises $500,000

More money for tenants

Receptor Therapeutics Inc. – a MaRS tenant – has raised $500,000 from the OICR’s IPDC Program via its OncoTek Drug Delivery Inc. subsidiary.

The funds will be used to drive the preclinical development of the company’s PoLi-PTX technology – a drug delivery system for intraperitoneal ovarian cancer.  PoLi-PTX is intended to permit effective localized cancer therapy without the associated side-effects of traditional chemotherapy.

Read the news release here (PDF).

Congratulations!

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Tags: drug development, finance, funding, health care, John McCulloch, life sciences, tenants