. In January, Canada Pension Plan Investment Board invested US$20-million in the company. Up until that point, the only Canadian institutional investors regularly backing biotech companies and venture capital firms had been Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, the Quebec government’s Investissement Québec and Power Corp. of Canada.
“Fusion filing for an IPO is just another example of the fantastic momentum and quality of innovative science in Canada’s health care sector. The only disappointment with this story is that Canadians own such a small piece of the company," said Peter van der Velden, managing general partner of Toronto’s Lumira Ventures.
"It simply speaks to the need to increase the size of domestic health care VC funds so that they are better capitalized to fund the entire financing continuum for our best stories,” Mr. van der Velden said.Story continues below advertisement The founder of Fusion and the company’s chief executive officer, John Valliant, is also as a chemistry and chemical biology professor at Hamilton’s McMaster University, a position he has held since 1999.
Source: News Formal (newsformal.com)
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