BioMed Propulsion Program: Québec grants $ 4 million loan to Alethia Biotherapeutics
Through the BioMed Propulsion program, administered by Investissement Québec, the MEI is providing a $ 4 million loan to Alethia Biotherapeutics to support the completion of a project valued at $ 17 million. The BioMed Propulsion program improves access to financing for companies in the life sciences sector.
Alethia will conduct a phase II clinical trial of AB-16B5, a therapeutic antibody for the treatment of metastatic non-small cell lung cancer (NSCLC). The funding will also support research on another biological product of the company.
Québec intends to position itself in the promising sector of biological products, as confirmed in the Quebec Strategy for Life Sciences. Support to Alethia helps strengthen this growing sector.