Iaculor obtains financing from MSBi Capital
Iaculor obtains financing from MSBi Capital
Montreal, Quebec — June 28th 2006
Iaculor Injection Inc. (“Iaculor”), a privately-held company specializing in the development of needle-free drug-delivery devices for drugs and vaccines, announced today that it has received seed financing from MSBi Capital.
Iaculor is developing needle-free injection devices for the delivery of solids and liquids as high-speed micron-sized particles or droplets. Its products are designed to allow for the pain-free administration of drugs and vaccines that at present must be delivered by conventional syringes. In addition to eliminating the risks of blood contamination, these new devices are projected to enhance the efficacy of many vaccines by precisely targeting specific skin layers, thereby increasing immunogenic potential.
Development of the medical devices will be performed by Iaculor in collaboration with Université de Sherbrooke under the supervision of Dr. Martin Brouillette, Iaculor’s co-founder and professor at the university. Mr. Jean Gosselin will act as the company’s President and CEO.
Mr. Cédric Bisson, Life Sciences Partner at MSBi Capital, will join Iaculor’s Board of Directors. According to Mr. Bisson, “The growing importance of vaccines, proteins and biological products in today’s medical armamentarium has created a real need to develop medical devices that will facilitate their use. Iaculor’s products are designed to meet this market demand”.
About MSBi Capital
MSBi Capital is a seed and early stage venture capital fund dedicated to commercializing innovations in information technology, life sciences and the physical sciences. MSBi Capital has a particular focus on establishing and building companies based on technology advancements and inventions originating from the universities of McGill, Sherbrooke and Bishop’s, as well as their affiliated hospitals and research institutes. More information about MSBi is available at www.msbi.ca.
About Iaculor Injection Inc.
Iaculor is focussing on the development and commercialisation of next generation needle-free medical devices for the delivery of drugs or vaccines in either liquid or powder form. The company’s short term goal is to complete the development of its initial products and establish strategic partnerships for their production and commercialisation. Iaculor will offer pharmaceutical and medical device companies products that are precise, effective, safe, low-cost and simple to use. Iaculor is about to commence human trials of its first product.
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About Université de Sherbrooke
The Université de Sherbrooke is the Canadian leader as regards research royalty revenues. It has more than 30,000 students, 11,500 of whom are full-time students. The Université has three campuses: two in Sherbrooke and one in Longueuil. Its nine faculties offer a wide range of programs in all three cycles of university studies. The Université de Sherbrooke owes its growth to an outstanding tradition in innovation. For more information, visit http://www.usherbrooke.ca.
CONTACT:
Iaculor Injection Inc.
Jean Gosselin
President and CEO
(514) 931–4004
EDITORIAL CONTACT:
MSBi Capital
Zara Myles
(514) 982–9044
