Kaneq spins out newco to develop preclinical diabetes compound

Newco Kaneq Bioscience Ltd. (Montreal, Quebec) debuted on Monday with an undisclosed amount in a series A round from TVM Capital. The company was spun out of Kaneq Pharma Inc. (Montreal, Quebec) to develop a preclinical protein tyrosine phosphatase 1B ( PTP-1B; PTPN1) inhibitor for Type II diabetes. TVM's Cynthia Lavoie, who joined Kaneq's board, said the A round will fund development of the compound to a "technical" proof-of-concept (POC) in humans. Kaneq Pharma's CEO Daniel Bouthillier is executive chairman of Kaneq Bioscience. ...