On October 12, 2023, Edesa Biotech, Inc. ("Edesa" or the "Company"), a clinical-stage biopharmaceutical firm, secured a C$10 million credit facility under the endorsement of Dr. Par Nijhawan, MD, the Company’s Chief Executive Officer and Founder. This financial backing will be instrumental in supporting a pivotal Phase 3 clinical study for Edesa's groundbreaking therapeutic candidate.
The line of credit was executed in parallel with a C$23 million commitment from the Government of Canada’s Strategic Innovation Fund (SIF) following a competitive review process. The line of credit, in conjunction with the SIF funding, plays a vital role in Edesa's overarching growth strategy. Specifically, it bolsters the Company's initiatives related to the development and commercialization of EB05 (paridiprubart), a monoclonal antibody designed as a treatment for Acute Respiratory Distress Syndrome (ARDS), a severe form of respiratory failure.
Fasken advised Edesa with a team comprised of Wojtek Baraniak, Myroslav Chwaluk, Alexis Shamess and Natalie Prange (Banking and Finance).
Jurisdiction
- Ontario
