Antibiotic technology developed by a tenant of the Innovation Stockyard in the Kit Bond Science and Technology Incubator was purchased by a newly formed pharmaceutical company. Sopharmia, Inc., founded by Larry Sutton, MD, PhD, announced the closing of a $3.3 million Series A venture capital financing round and the formation of Gladius Pharmaceuticals Inc. based in Montreal. Sopharmia’s antibiotic technology is now wholly owned by Gladius Pharmaceuticals.
Sopharmia’s team, which did a large portion of their work at the campus’s Innovation Stockyard, pioneered dual mechanism small molecule antibiotics that combine antibiotic functionality with activity against one of the main causes of antibiotic resistance.
Although Sopharmia, Inc. “graduated” from the Innovation Stockyard, Dr. Sutton and his team are orchestrating Gladius Pharmaceuticals’ North American research and development operations from their new company Sopharmbique LLC that will also be housed in the Innovation Stockyard.
“This financing enables us to accelerate the advancement of our lead compound,” said Dr. Sutton. “Innovation Stockyard has helped us through good times and bad. We’re pleased to continue this relationship with them.”