Cytochroma Inc raises additional $21 million in VC

Privately held Cytochroma Inc, Markham ON, has received $21 million in venture capital financing to expand the development of potential products for vitamin D deficiency and other diseases related to chronic kidney disease. The latest funding brings the total raised since 2001 to $58 million and follows last year's acquisition of Madison WI-based Proventiv Therapeutics LLC. Led by VenGrowth Advanced Life Sciences Fund, the latest funding round includes Novo A/S and Gene Chem Technologies Venture Fund. Cytochroma was formed in 1997 by PARTEQ Innovations, and Queen's Univ scientists Drs Martin Petkovich and Glenville Jones. It focuses on identifying modulators of cytochrome P450 enzymes involved in key metabolic pathways of substances ranging from vitamins to steroids. Prior to 2001, seed financing was provided by University Medical Discoveries Inc, followed by Canadian Medical Discoveries Fund, GeneChem LP and Working Ventures Canadian Fund Inc….