Ocythera Launches to Target Rare Bone Disease with Novel Therapy

MONTREAL, QC – January 15, 2026 – A new player has entered the Canadian biopharmaceutical landscape with a mission to address some of the most challenging and underserved medical conditions. adMare BioInnovations, Canada’s national life sciences company creation engine, today announced the launch of Ocythera, a Montreal-based firm dedicated to developing innovative treatments for rare bone diseases.

The new company emerges from a foundation of groundbreaking academic research and aims to provide hope for patients who currently have few, if any, effective therapeutic options. Ocythera will focus on advancing a new class of drugs that target the underlying biology of these debilitating conditions, representing a significant step forward in a field with profound unmet needs.

A Novel Scientific Approach to Bone Disease

At the heart of Ocythera's strategy is a highly specific scientific approach: the development of selective CYP26B1 inhibitors. This technology originates from the pioneering research of Dr. Martin Petkovich, a professor in the Department of Biomedical and Molecular Sciences at Queen's University, whose lab has been instrumental in understanding the role of retinoic acid in health and disease.

Retinoic acid, a metabolite of vitamin A, is a powerful signaling molecule essential for processes like cell growth and development. The enzyme CYP26B1 is a key regulator that breaks down retinoic acid, controlling its concentration in specific tissues. By selectively inhibiting this enzyme, Ocythera’s compounds can increase the body's own localized retinoic acid levels in a controlled manner. This offers a more targeted, non-retinoid therapeutic strategy that promises improved safety and efficacy compared to directly administering synthetic retinoid drugs, which can have significant side effects.

While the company's focus is on a range of rare bone diseases, its initial efforts are directed at conditions like Hereditary Multiple Osteochondromas (HMO). HMO is a severe genetic disorder that affects children, causing the growth of multiple benign bone tumors that lead to skeletal deformities, reduced growth, chronic pain, and an increased risk of malignancy. For these young patients, the current standard of care is primarily surgical, with many undergoing dozens of invasive procedures throughout their childhood. There is no cure.

Ocythera's approach aims to intervene at the molecular level, potentially slowing or halting the progression of the disease and reducing the need for repeated surgeries. The preclinical data, developed in close collaboration between Dr. Petkovich's team and adMare's R&D scientists, has shown strong efficacy in relevant models, providing a solid foundation for the company's ambitious clinical development plans.

The Engine Behind the Innovation: adMare's Model

The launch of Ocythera serves as a powerful case study for the success of adMare BioInnovations' unique company creation model. Rather than simply funding existing startups, adMare acts as a co-founder, identifying promising, highly differentiated science within Canadian academic institutions and actively building companies from the ground up.

This hands-on process involves investing crucial pre-seed capital and deploying a dedicated team of industrial R&D, intellectual property, and business development experts. They work alongside the academic inventors to generate robust scientific data, strengthen the IP portfolio, and build the corporate structure necessary to attract significant venture capital investment for future growth.

"Ocythera perfectly illustrates adMare's mission to turn cutting-edge science into globally competitive companies that improve patient health and strengthen Canada's life sciences ecosystem," said Frédéric Lemaître Auger, Vice President of Investments at adMare BioInnovations. "Our team worked closely with Dr. Petkovich to develop robust preclinical data and strengthen intellectual property, paving the way for Ocythera's future success."

This model has proven remarkably effective. To date, adMare has helped build 39 companies, including Ocythera. These ventures have collectively attracted $2.5 billion in risk capital, achieved a combined value of $5.8 billion, and created approximately 1,000 skilled jobs across Canada. The financial returns generated from successful portfolio companies are reinvested back into adMare’s programs, creating a self-sustaining engine for Canadian innovation.

Bolstering Canada's Life Sciences Ecosystem

The creation of Ocythera is not just a win for patients and scientists; it is also a key component of a broader national strategy to position Canada as a global leader in the life sciences. The Canadian government has been a significant partner in this vision, providing substantial funding to organizations like adMare to bridge the gap between academic discovery and commercial success.

"The creation of Ocythera reflects the kind of innovation that strengthens Canada's technological and industrial capabilities, and drives long-term competitiveness," stated the Honourable Melanie Joly, Minister of Industry. "Our government's collaboration with adMare to advance this vision will build a stronger economy by investing in strategic industries such as life sciences to turn cutting-edge research into globally competitive companies."

This support is part of Canada's comprehensive Biomanufacturing and Life Sciences Strategy, a multi-billion-dollar federal initiative designed to grow a competitive domestic sector, enhance pandemic preparedness, and ensure a steady pipeline of "Made in Canada" therapies. adMare contributes to this strategy not only through company creation but also by providing critical infrastructure, including over 200,000 square feet of turnkey wet lab facilities in Montreal and Vancouver, and by developing industry-ready talent through its adMare Academy.

Navigating the Competitive Landscape

Ocythera enters a rare disease market that is both challenging and intensely competitive. While its specific focus on CYP26B1 inhibition for HMO is novel, the broader field of rare bone disorders has attracted significant attention and investment from major pharmaceutical players. Companies like Ultragenyx Pharmaceutical are advancing antibody therapies for conditions such as Osteogenesis Imperfecta, and recent high-value acquisitions, like AstraZeneca's purchase of Amolyt Pharma for over $1 billion to gain access to its pipeline for bone metabolism disorders, highlight the sector's immense commercial potential.

For Ocythera, the path forward will involve navigating the rigorous demands of clinical trials, securing further rounds of financing, and proving its therapy's value in a landscape of emerging treatments. However, with its strong scientific foundation, the proven backing of adMare's company-building expertise, and the support of a national innovation strategy, the new Montreal-based company is well-positioned to make a meaningful impact for patients who have waited far too long for a breakthrough.