TVM Life Science Ventures VII closed the fund’s eleventh investment, establishing Mediti Pharma Inc., a company based in Montréal, Québec. Mediti Pharma Inc. is developing a compound, MP-101, originally discovered by Eli Lilly and Company for the treatment of Alzheimer’s disease (AD) psychosis.
Critical need to develop adequate treatments against AD psychosis
The behavioral symptoms associated with AD psychosis, including hallucinations, delusions and aggression can be most distressing for patients and for their caregivers. Hallucinations and delusions can affect more than 50% of AD patients over time. “We are pleased to support the development of MP-101, a Phase 2-ready clinical compound, through human proof-of-concept in an indication with such high unmet need,” stated Cynthia Lavoie, General Partner with TVM Capital Life Science and board member of Mediti Pharma Inc.
The company is managed by CEO Dr. Ivan Shaw, neurobiologist and experienced drug developer and CFO Mark Cipriano. “There is a critical need to develop adequate treatments as these patients have no approved therapeutic options available to them,” said Shaw.
Arrangement between TVM and numerous limited partners
TVM Life Science Ventures VII, a venture capital fund domiciled in Montréal, Québec, follows a new, capital-efficient investment approach to developing pharmaceutical assets to human proof-of-concept in single-asset companies. The fund is a unique arrangement between TVM Capital Life Science and numerous limited partners, including Eli Lilly and Company. The goal is to finance and access innovation while managing risk and sharing reward.
“Lilly’s commitment to Alzheimer’s disease is demonstrated by our more than 25 years of research and development in the field,” said Robert Conley, Distinguished Lilly Scholar and Global Brand Development Leader at Lilly. “TVM Life Science Ventures VII is an important part of our risk-sharing strategy as we strive to identify, access and shape innovation in areas of unmet medical need, like neurodegeneration.”