History

We are a private, venture-backed pharmaceutical company committed to the discovery, development and commercialization of novel and targeted small molecule therapeutics for the treatment of inflammatory disease and cancer. 

We commenced operations in 2006 as a spin-off from research conducted at the University of British Columbia, the BC Cancer Agency and the Vancouver Coastal Health Research Institute, all organizations with outstanding reputations for world-class research. Our scientific co-founders, Dr. Gerald Krystal, Dr. Raymond Andersen, Dr. Alice Mui, and Dr. Christopher Ong, discovered SH2-containing inositol-5'-phosphatase (known as "SHIP1"), as well as drugs to modulate this enzyme. SHIP1 is only expressed in blood cells and, when activated, balances the normal activity of the PI3K pathway, a key pathway that when engaged promotes cell growth, proliferation, survival, and immune cell function. Thus, SHIP1 activators, like those we are developing, enhance the body’s natural regulator of this pathway and have the potential to be harnessed for the treatment of a broad range of inflammatory diseases. 

In June 2007, we raised U.S. $14.5 million in a Series A venture capital financing. The financing was led by Ventures West Capital Ltd. and included new investors, Johnson & Johnson Development Corporation (JJDC) and Baker Brothers Investments. Our existing investor, BC Advantage Funds (VCC) Ltd., managed by Lions Capital Corp., also participated in the financing. The financing proceeds were used to identify and advance our lead development candidate through preclinical and IND-enabling studies.

In June 2010, we secured an additional U.S. $25 million in the close of a Series B venture capital financing, again led by Ventures West Capital Ltd.  A new investor, Pfizer Venture Investments (PVI), participated in the financing along with all other existing investors: Johnson & Johnson Development Corporation, Baker Brothers Investments and BC Advantage Funds (VCC) Ltd. The proceeds from this financing have been used to advance our lead clinical candidate, AQX-1125, through a now completed three-part Phase I study, as well as two ongoing Phase IIa studies.