Viron Therapeutics Raises Over $7 Million in New Financing

Biotechnology company Viron Therapeutics Inc. (London, ON, Canada) has completed a new round of financing totaling $7,317,000 in Series A & B Preferred Shares. Viron will use the financing to further its goal of becoming a dynamic biotechnology company developing new medicines to treat inflammatory and autoimmune diseases.

The financing was led by the Novartis Venture Fund of Switzerland, and also included: the Royal Bank Ventures Inc, GeneChem Technologies Venture Fund L.P., the Eastern Technology Seed Investment Fund, Trudell Medical Ltd., the New Medical Technologies Fund of Switzerland, and a number of private investors. Viron is also extending the current finance closing on similar terms for a further three months to allow additional investors to complete their investments.

Viron was founded in 1997, based on discoveries made at the University of Alberta, the John P. Robarts Research Institute, the University of Western Ontario, and the London Health Sciences Centre. Viron's technology platform consists of the discovery and development of new therapeutics based on the finding that certain viral proteins act as potent anti-inflammatory drugs.

For more information: Ronald E. Layden, President and CEO, Viron Therapeutics Inc., 100 Collip Circle, Suite 103, UWO Research Park, London, ON M6G 4X8, Canada. Tel: 519-858-5109. Fax: 519-858-5103. Email: rel@viron.on.ca.

Edited by Jim Pomager