Article: Xenon Set To Enter Clinic With $31M Third-Round Financing.

Staff Writer

As its two lead products prepare for clinical trials, Canadian genetics company Xenon Pharmaceuticals Inc. secured a US$31 million financing.

The funds will support XEN401 for chronic and acute pain and XEN501 for acute termination and prevention of atrial and ventricular fibrillation. Currently in pre-investigational new drug application studies, the products could enter clinical trials later this year.

MX Associates LLP and LipoteRx Ltd. led the financing - a third institutional round for the Vancouver, British Columbia-based company. Several other investors, including New York-based Invesco Private Capital, participated.

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