Xagenic, a point-of-care molecular diagnostics company, has appointed Bruce A. Cohen as executive chairman of the board. R. Erik Holmlin has also been appointed to the board of directors. Xagenic is backed by CTI Life Sciences Fund, the Ontario Emerging Technologies Fund and QIAGEN. PRESS RELEASE Xagenic Inc., a privately held point-of-care molecular diagnostics company, [...]

Xagenic Inc., a molecular diagnostics company spun out of the University of Toronto, has raised $10 million in Series A financing co-led by CTI Life Sciences Fund and the Ontario Emerging Technologies Fund. QIAGEN N.V. also participated in the round. Toronto-based Xagenic will use the funds to continue development of its technology for decentralized, rapid diagnostic testing.

Alexion Pharmaceuticals Inc. will pay $610 million in cash – and as much as $470 million in future milestone-based payments – to acquire Enobia Pharma Corp. Enobia is a biopharma company developing therapies to treat patients with ultra-rare and life-threatening genetic metabolic disorders. Enobia closed a $40 million round earlier this year, and was backed by investors including OrbiMed Advisors, CTI Life Sciences Fund, Desjardins Venture Capital and Lothian Partners.

Vancouver-based Zymeworks Inc., a biotech company focused on protein-based therapeutics, has raised a total of $8.1 million. CTI Life Sciences Fund and Advanced Biotechnologies Venture Fund are among the investors. The money will be used for continued development.

Enobia Pharma Inc., a Montreal-based biotech company developing therapeutics for bone disorders, has closed a $40 million round. The company’s backers include OrbiMed Advisors, CTI Life Sciences Fund, Desjardins Venture Capital and Lothian Partners. BofA Merrill Lynch acted as the exclusive placement agent to the company.

Zymeworks Inc. , a Vancouver-based antibody-based therapeutics startup, has raised C$3.2 million in new VC funding led by return backer CTI Life Sciences Fund.