Interface Biologics, a Toronto, Ontario, Canada-based biomedical company, has received $1m in financing.
The company, which received the financing as the result of a report by the Ontario Bioscience Industry Organization™ (OBIO™) that was presented to the Government of Ontario in 2010, intends to use the funding for clinical trials and commercialization purposes.
A University of Toronto spinoff, Interface Biologics’ primary technology focus areas are anti-thrombogenic devices designed to reduce thrombosis without the need for heparin, anti-infective polymers, and programmable combination drug delivery devices.
Founded in 2001 and led by CEO Tom Reeves, IBI is located at the MaRS Centre in Toronto, Canada.
Funding is managed by the Investment Accelerator Fund of the Province of Ontario and focuses on seed and later stage financing in companies that have the potential to be global leaders in their field and provide sustainable economic benefits to Ontario.
About The Investment Accelerator Fund-Life Sciences Program
The Investment Accelerator Fund-Life Sciences (IAF-LS) helps accelerate the growth of life sciences companies in Ontario. The fund invests up to $1,000,000 in seed and later stage financing in companies that have the potential to be global leaders in their field and provide sustainable economic benefits to Ontario. Funded by the Government of Ontario, the fund is a $7-million program that helps innovative life sciences companies turn their discoveries into new products and services that meet patient needs. The IAF-LS is delivered by MaRS. For more information, please visit www.marsdd.com/iaf-lifesciences.