A promising clinical pipeline to impact patients with cancer

September 05, 2024 – FACIT congratulates HDAX Therapeutics (“HDAX”) on the closing of a seed financing round to develop their best-in-class HDAC therapeutics for the treatment of a serious cancer conditions. Capital from the investor group, which included an investment from FACIT’s Compass Rose Oncology Fund, will empower HDAX to address the debilitating neuropathic pain frequently experienced by patients with cancer.

HDAX’s successes to date exemplify the importance of FACIT’s Ontario First commercialization strategy, providing a continuum of much needed capital and additional supports to advance early-stage cancer innovations. After securing initial capital from FACIT’s Prospects Oncology Fund to support the intellectual property developed at the University of Toronto, HDAX met and surpassed key preclinical milestones while cultivating highly skilled talent and entrepreneurial skills in Ontario. Furthermore, HDAX is one of very few life science start-ups led by two women entrepreneurs, and FACIT is proud to continue its industry leadership in backing women-led companies. Congratulations to HDAX and their continued growth in Ontario!

To learn more about this exciting Ontario startup and the potential impact for patients with cancer, read the company’s news release here.

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About FACIT        
FACIT is an award-winning commercialization venture firm that builds companies with entrepreneurs to accelerate oncology innovation, with a portfolio that has attracted more than $1.6 billion in investment to Ontario. Blending industry experience, capital and the unsurpassed clinician-scientist network of its strategic partner the Ontario Institute for Cancer Research (OICR), FACIT capitalizes on the province’s investment in research and healthcare to the benefit of the local economy and patients worldwide. Cancer Breakthroughs. Realized. facit.ca