Find Therapeutics Secures $10M for Novel MS Myelin Repair Drug, Appoints Biotech Veteran as Chairman

MONTREAL, QC – January 09, 2026 – By Alexander Harris

Montreal-based Find Therapeutics Inc. has secured a significant CAD$10 million in financing and appointed a highly successful biotech entrepreneur to its helm, signaling strong momentum in its quest to develop a first-in-class therapy for demyelinating diseases like Multiple Sclerosis (MS).

The biopharmaceutical company announced today the closing of a Series A extension round from its current investors—CTI Life Sciences, Investissement Québec, and adMare BioInnovations. The move follows the successful completion of a Phase 1 safety trial for its lead drug candidate, tasronetide, a peptide designed to promote the natural repair of myelin, the protective sheath around nerve fibers that is damaged in MS.

The capital injection is earmarked for critical next steps, including a specialized Phase 1b clinical trial using PET imaging in individuals with MS. This strategic financing, coupled with a leadership shuffle that brings Dr. Thierry Abribat aboard as Executive Chairman, positions the company for a pivotal phase of clinical development.

Investor Confidence and a De-Risking Strategy

The CAD$10 million infusion demonstrates sustained confidence from Find Therapeutics' foundational investors. This is not new money from new sources, but a deeper commitment from partners who have been with the company since its early stages. Their continued backing underscores a belief in the scientific platform, which originated from the work of Dr. Dominique Bagnard at the University of Strasbourg, and the potential of tasronetide.

"This Series A extension demonstrates the continued confidence of our investors in Find's mission and progress," said Dr. Frédéric Lemaître Auger, Find Therapeutics' Interim President and Chief Executive Officer. "With this additional funding, we are well-equipped to drive our pipeline forward, including conducting a de-risking Phase 1b PET trial and achieving Phase 2-readiness."

The planned Phase 1b trial is a crucial and calculated step. By using Positron Emission Tomography (PET) imaging, the company aims to visually confirm that tasronetide is reaching and engaging with its intended target within the central nervous system of MS patients. This type of study provides invaluable early data on a drug's mechanism of action in humans, serving as a key 'de-risking' milestone before the company embarks on larger, more expensive, and lengthy Phase 2 efficacy trials.

A New Chairman with a Billion-Dollar Track Record

Adding significant weight to the company's strategic direction is the appointment of Dr. Thierry Abribat as Executive Chairman of the Board. He succeeds Paul F. Truex, who will remain on the board, ensuring leadership continuity.

Dr. Abribat is a seasoned biotech executive and serial entrepreneur with a formidable reputation for building and successfully exiting companies. Most notably, he was the founder and CEO of Amolyt Pharma, which was acquired by pharmaceutical giant AstraZeneca in 2024 for over $1 billion. His resume also includes the successful sales of Alizé Pharma to Millendo Therapeutics in 2017 and Alizé Pharma 2 to Jazz Pharmaceuticals in 2016. His proven ability to navigate the complex path from scientific discovery to major commercial exit brings a new level of strategic expertise to Find Therapeutics as it prepares for its next stage of growth.

"I am honored to take on the role of Executive Chairman at such a pivotal time for Find Therapeutics," said Dr. Abribat. "Its clinical-stage lead program, tasronetide, is derived from compelling science and the preclinical data support a differentiated profile. Our team is deeply committed to bringing a well-needed novel therapeutic approach to patients suffering from demyelinating diseases."

The Scientific Quest to Rebuild the Nervous System

At the heart of Find Therapeutics' mission is a novel approach to treating demyelinating diseases. For millions suffering from MS worldwide, the body's immune system mistakenly attacks and destroys myelin. This damage disrupts nerve signals, leading to a wide range of debilitating neurological symptoms. While current treatments can effectively reduce inflammatory attacks and slow disease progression, none can repair the existing damage or restore lost function. The development of a remyelinating therapy remains a 'holy grail' in neurology.

Find Therapeutics' lead candidate, tasronetide, aims to do just that. It is a first-in-class peptide that targets the NRP1/Plexin-A1 receptor complex. In the brains of people with MS, this complex is overexpressed and acts as a 'brake,' inhibiting the body's own repair mechanisms. It prevents oligodendrocyte precursor cells (OPCs)—the stem cells responsible for making new myelin—from migrating to sites of injury and maturing into myelin-producing cells.

Tasronetide is designed to release this brake, allowing the body's natural repair processes to resume. Compelling preclinical studies in animal models have shown the peptide promotes robust myelin repair and provides neuroprotection. Having now passed a Phase 1 trial in healthy volunteers, where it was shown to be safe and well-tolerated, the drug is ready to be tested in the patient population it is intended to help.

This unique mechanism of action distinguishes tasronetide from other remyelination strategies in the pipeline. While competitors like Pipeline Therapeutics and Pheno Therapeutics are exploring other targets, and repurposed drugs like the antihistamine clemastine have shown modest effects, tasronetide's focus on the NRP1/Plexin-A1 pathway represents a new and promising avenue in a challenging field. The road to a successful remyelination drug is fraught with difficulty, as demonstrated by past clinical trial failures from other companies. However, Find's focused strategy and novel science provide a strong foundation for the journey ahead.