HBM Bioventures, the new venture capital fund set up by HMB Partners that has drawn a $30 million investment from Golden Leaf Foundation, is among the companies funding a $12.4 million round for Adherex Technologies.

Adherex is a biotechnology company that maintains offices in RTP and Ottawa, Canada. It is focused on cancer therapeutics.

Also investing in the round were Diouhy Merchant Group, VenGrowth Advanced Life Sciences Fund and OrbiMed Advisors plus institutional investors. Of the round, $8.4 million came from Diouhy.

HBM Bioventures purchased 7.5 million shares in a concurrent private placement at .05 cents per unit, the company said.

Adherex has four products in development, including a drug that protects against severe hearing loss caused by anticancer agents and other vascular related products.

“This financing provides to Adherex several advantages,” said Dr. William Peters, the CEO and chairman of the company, in a statement. “First, it provides to the company the stability of nearly an additional year of money for drug development; second, the support comes at a time of substantial geopolitical and financial market uncertainty — Finally, it provides the right conditions for the company to seek a listing in the US markets.”

Adherex: www.adherex.com