Interface Biologics Inc has closed a Series B financing round. The value of the investment was not disclosed. The deal was led by DSM Venturing, the technology investment arm of Dutch health, nutrition and materials business Royal DSM, and BDC Capital Healthcare Venture Fund, an existing investor. Interface Biologics said it will use the proceeds to accelerate the commercialization of its biomedical polymer technologies platform, which is aimed at improving the safety and effectiveness of medical devices. Based in Toronto, the company was founded in 2001 as a spinoff of the University of Toronto. It is also backed by Covington Capital Corp and MaRS Investment Accelerator Fund.
Interface Biologics Announces Series B Financing Round With DSM and BDC Capital
TORONTO, ONTARIO–(Marketwired – Jan. 13, 2015) – Interface Biologics Inc. (IBI), an innovative developer of biomedical-polymer technologies which improve the safety and effectiveness of medical devices, is pleased to announce the completion of a Series B financing round led by DSM Venturing and existing investor, BDC Capital.
“Interface Biologics is a great strategic and a financial investment for DSM,” remarked Pieter Wolters, Managing Director of DSM Venturing, the corporate venturing arm of Royal DSM, a EUR10 billion global science-based company active in health, nutrition and materials. “The fit with DSM’s activities in Biomedical offers significant opportunities to create incremental value.”
“BDC Capital has been an early and active investor in Interface Biologics since 2004,” stated Dion Madsen, Senior Managing Partner in the Healthcare Venture Fund at BDC, “We believe the company is at the right stage to capitalize on the opportunity to work with a major strategic investor and accelerate the commercialization of its polymer technologies and the products that they enable.”
“We’re very pleased to have completed this Series B financing,” commented Tom Reeves, President & CEO of Interface Biologics. “Having a strategic investor like DSM in combination with BDC underscores both IBI’s success to date and the confidence that our investors have in our future. We look forward to working with DSM as we continue the commercial development of our surface modifying macromolecules and our drug delivery polymer technology platforms.”
ABOUT INTERFACE BIOLOGICS, INC.
Interface Biologics is a commercial stage privately held company that develops transformative biomedical polymer technology to improve the safety and effectiveness of medical devices. IBI’s primary technology focus areas are surface modifying macro-molecules and polymer enabled combination drug delivery devices. IBI, a University of Toronto spinoff, is located at the MaRS Centre in Toronto, Canada. For more information about Interface Biologics, please visit www.interfacebiologics.com.
ABOUT DSM – Bright Science. Brighter Living.™
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders simultaneously. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM’s 24,500 employees deliver annual net sales of around EUR10 billion. The company is listed on NYSE Euronext. More information can be found at www.dsm.com.
ABOUT DSM Venturing
DSM Venturing is an active investor in DSM’s strategic growth fields including Human Nutrition, Biomedical and Solar. DSM Venturing’s mission is to explore and take positions in emerging companies in these strategic growth fields in order to create options for DSM and create value. For more information about DSM Venturing see www.dsm.com/venturing.
ABOUT BDC Capital Healthcare Venture Fund
BDC Capital’s Healthcare Venture Fund invests in transformative Canadian companies that will dramatically increase healthcare productivity by reducing healthcare costs while improving patient health. The experienced team manages $270 million in capital across two different funds and invests in drugs, devices, diagnostics and digital health sectors. For more information, please visit www.bdccapital.ca/health.
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