Investment of 2.5 million in PerOs Systems Technologies Inc. for the development of the OraljectTM technology platform
Quebec, November 27, 2002 - Foragen (Foragen Technologies S.E.C.), Fonds Bionovation and private investors invest 2 500 0000$ in PerOs Systems Technologies Inc., a biotechnology company specialized in the development and the commercialization of a delivery system for bioactive compounds permitting the oral administration of therapeutic molecules including vaccines, peptides and nutraceuticals to monogastric species.
The new technology developed by PerOs Systems Technologies Inc which is registered under the trademark OraljectTM, is currently undergoing final patent approval. Clinical tests completed by PerOs System Technologies Inc. demonstrated that the technology permits direct intestinal uptake of bioactive molecules. Furthermore, the utilization of OraljectTM as an oral vaccine delivery system revealed similar results to vaccine injection. The OraljectTM system offers a novel approach for oral vaccine delivery that is easy to administer and is extremely cost effective.
Foragen has invested $1.7M in the Company and is particularly excited by the breadth of the technology and its potential impact on the animal health sector. " We feel this technological platform will revolutionize the animal vaccine industry by providing cheaper, safer and long-lasting protection against a variety of bacterial and viral diseases. Overall benefits range from reduction in antibiotic usage to improved animal stress management " says Dr. Roger Bernier, Vice-President Eastern Canada, Foragen Technologies S.E.C.
"The CQVB was one of the key partners in the creation of the company and we demonstrated once again our strong commitment to this young company with our new fund the “Fonds Bionovation”, we firmly believe in the OraljectTM technology which is a very good example of technology transfer in the sector of animal health ", says M. Jean-Maurice Plourde, President, Fonds Bionovation and CQVB. Fonds Bionovation, is investing 500 000$ in PerOs System Technologies Inc.
"This investment will permit PerOs Systems Technologies inc. to identify, develop and test new applications for OraljectTM. The worldwide market for Aquaculture is more than USD 2.8 billion. PerOs Systems Technologies Inc. targets to launch other applications in the poultry and swine markets within the next 3-4 years", says Mr. Denis Bernier, President of PerOs Systems Technologies Inc.
About Foragen
Foragen Technologies S.E.C. is a Canadian investment fund dedicated to the creation and launch of technologically advanced companies in the bio-food sector. Its mandate is to promote start-ups by offering entrepreneurs seed capital, business and technology management expertise and networking opportunities that will allow them to concentrate on developing and commercializing their technologies. Foragen is owned equally by Royal Bank Ventures Inc., the Saskatchewan Opportunities Corporation (SOCO), a subsidiary of Crown Investments Corporation of Saskatchewan (CIC), and SGF Soquia Inc., a subsidiary of Société générale de financement du Québec. Foragen has offices in Québec, Ontario and Saskatchewan.
About Bionovation
The new fund Fond Bionovation target companies with high-density technology content in the biotechnology sector within the province of Quebec. The Fonds Bionovation offer early risk capital to companies to help structure the companies, establish proof of concept, conception of prototype, protection of the IP and market strategy.
The Fonds Bionovation is a subsidiary that is funded by Gestion Bionovation inc., a sub company of the CQVB. The funds contributors are the Fonds de solidarité FTQ, the CQVB and the Fonds d’investissement bioalimentaire. We would like to recall that the CQVB (Centre québécois de valorisation des biotechnologies) is a liaison and transfer center financed by the Quebec minister of Finance.
For more information:
Jean-Simon Venne
VP Business Development
PerOs System Technologies
Phone: (514) 481-0349
Email: jsvenne@perosbio.com
Kate Falardeau
Directrice Communications et marketing
CQVB
Phone : (418) 657-3855 poste 212
Email : kate.falardeau@cqvb.qc.ca
Web : www.cqvb.qc.ca
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