Congratulations to H2i venture HDAX Therapeutics, who announced the closing of an oversubscribed seed round of $4.3 million CAD ($3.2M USD) earlier this month. Led by co-founders Nabanita Nawar and Pimyupa Manaswiyoungkul, both University of Toronto alumni, HDAX is unlocking next generation precision therapeutics that target the root causes of cardiovascular and neurological diseases. The recently concluded seed round was led by SeedFolio, FACIT, and Toronto Innovation Acceleration Partners (TIAP).
Of the announcement, co-founder and CEO Nabanita Nawar shared: “HDAX Therapeutics is leading the way in developing next-generation HDAC6-targeting therapeutics to improve patient outcomes. Our novel binding mechanism enables us to safely and effectively address the underlying drivers of disease, positioning us as a potential best-in-class player in the HDAC6 space. Securing this financing underscores the truly differentiated nature of our innovation and the broad potential of our technology. This achievement wouldn’t have been possible without the incredible support from hubs like the Health Innovation Hub, and we’re deeply grateful for their ongoing belief in our mission to deliver meaningful and safe disease-modifying therapies to patients.”
This milestone continues HDAX’s impressive momentum and growth, adding to a long list of achievements from the past year. In just one year, HDAX won $250,000 CAD at the Entrepreneurship for Cardiovascular Health Opportunities (ECHO) Pitch Competition, $50,000 USD at BI External Innovation Day, a $50,000 USD space credit and $10,000 USD cash prize from LabCentral Ignite and earned a $100,000 CAD seed investment from Ontario Bioscience Innovation Organization (OBIO)’s Women in Health Initiative (WiHI). Nawar and Manaswiyoungkul also placed on this year’s Forbes Top 30 Under 30 Toronto ranking.
Congratulations, Team HDAX! We look forward to celebrating your continued growth and success as you create meaningful clinical impact and change patients’ lives.