Montreal’s Inversago Pharma raises $95M Series C
The biotech said the money will be used in part to move one of its potential therapies for diabetic kidney disease to a Phase 2 clinical trial later this year. (The Logic)
The biotech said the money will be used in part to move one of its potential therapies for diabetic kidney disease to a Phase 2 clinical trial later this year. (The Logic)
“We are going to invest more in 5G, we are going to invest in cybersecurity, we are going to invest in connectivity software in general,” Nokia’s global CEO Pekka Lundmark told The Logic in an interview. By the time the new facility opens in 2026, he said, 6G wireless technology will be well underway, and “I certainly expect this to be one of our key sites when we manage this evolution.” (The Logic)
Three members of the European Parliament (MEPs) claim Amazon, Google and Meta provided money and direction to small-business associations to advance the U.S. firms’ positions on the Digital Markets Act (DMA) and Digital Services Act (DSA). The lawmakers also say the Computer & Communications Industry Association (CCIA) and another group claimed to be acting on behalf of an unregistered startup-focused coalition. (Politico)
In a keynote speech at the Canadian Chamber of Commerce’s annual general meeting, CPP Investments head John Graham said in prepared remarks that reversing globalization presents both buying opportunities and risks for the country’s largest pension fund, as it tries to manage long-term returns in a rapidly changing economy. (The Logic)
The Montreal-based meal-kit company said it is closing its micro-fulfillment centres in Montreal and Toronto as it would require “significant” additional capital and operational investments to bring the service “to an attractive level of profitability.” Goodfood shares were down over 20 per cent on the Toronto Stock Exchange Friday. (The Logic)
The team identified the vulnerability during a security audit conducted after a separate exploit of Binance Smart Chain (BSC), which drained US$100 million worth of tokens, wrote Ethan Buchman, Cosmos’s Toronto-based co-founder, in its forum. The team made a software patch available to everyone Friday morning after issuing it to major Cosmos blockchains privately, he said. (The Logic)
Pathways Alliance, a consortium of oil-sands producers, said it will spend $16.5 billion building a massive carbon-capture hub in northern Alberta (the price tag is up from an earlier estimate of $13 billion). The group plans to spend another $7.6 billion on other emissions-reducing technologies, spokesperson Mark Cooper said. (The Logic)
The inquiry, a legal requirement following the invocation of the act to deal with February’s protests in Ottawa, Windsor, Ont., and Coutts, Alta., against COVID-19 restrictions, will examine the basis of the federal government’s decision and its effectiveness. (The Logic)
Between 2016 and 2021, one-third of the top 90 staff at the U.S. Federal Trade Commission held or traded the shares of firms that the agency was publicly investigating or whose acquisitions it was reviewing, according to The Wall Street Journal’s analysis. Almost a quarter were invested in Alphabet, Amazon, Meta, Microsoft, Oracle or other tech stocks. (The Wall Street Journal)
The Toronto-based cryptocurrency-trading platform will be subject to the Investment Industry Regulatory Organization of Canada’s oversight and audit requirements. Customers will receive insolvency protection through the Canadian Investment Protection Fund. (The Logic)