IL Therapeutics Inc. was previously owned by Western Life Sciences Venture Fund LP ("Western Life Sciences") and in 2006 its shares were purchased by Pacgen Biopharmaceuticals Corporation ("Pacgen").
IL Therapeutics was developed from research first begun at the Western College of Veterinary Medicine.
Currently IL Therapeutics is working on a drug candidate, IL-8(3-73)K11R/G31P ("PAC-G31P") for relief of Acute Respiratory Distress Syndrome (ARDS).
[3] With the successful progression of G31P, the University of Saskatchewan Industry Liaison Office (ILO) decided to commercialize a commercialize this new drug treatment.
[4] This research has been sponsored by a $3 million boost from the Western Life Sciences Venture Fund (WLS)[5]