On July 1, 2017, Milestone Pharmaceuticals Inc. (“Milestone”) secured US$55 million in the first tranche of its Series C financing round. The round was led by Novo Holdings A/S (“Novo Holdings”).
Milestone is a clinical stage drug development company focused on developing etripamil, a calcium channel blocker intended to provide fast-acting and short-acting treatment of paroxysmal supraventricular tachycardia (PSVT) episodes, a form cardiac arrhythmia. The funding will be used to advance etripamil, the company’s lead product, into Phase 3 development including the execution of pivotal and supportive clinical trials, the production of clinical and commercial supplies and pre-launch commercialization activities. Additionally, the funding will be used to expand the company’s resources including select additional headcount and advisory support in strategic areas including Marketing and Medical Affairs. Milestone is headquartered in Montreal, Canada, with a US subsidiary in Charlotte, NC.
Novo Holdings is a private Danish limited liability company wholly owned by the Novo Nordisk Foundation. It provides seed and venture capital to development-stage companies, takes significant ownership positions in well-established companies within life science, and manages a broad portfolio of financial assets.
Osler, Hoskin and Harcourt LLP represented Milestone Pharmaceuticals Inc. with a team consisting of Nathalie Beauregard (Corporate), Alain Fournier (Taxation), and Sophie Amyot and Ziyi Shi (Corporate).
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