On September 05, 2024 FACIT reported the company 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 (Press release, FACIT, SEP 5, 2024, View Source [SID1234646407]). 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.

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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.