Induce Biologics Receives Financing from Belmore Capital

Source Press Release
Company Induce Biologics 
Tags Private Placement
Date February 27, 2015

Induce Biologics Inc. (“Induce”), a pioneer in bone regenerative medicine research, announced today that the company has closed a financing with Belmore Capital, including a minimum of $2 million, with an option to invest an additional amount  into Induce as part of the Company’s ongoing $10 million financing.

Induce Biologics is a privately held regenerative medicine company based in Toronto, Canada. The company’s experienced management team is focused on providing innovative solutions for bone regeneration in the multi-billion dollar markets of dental/oral craniofacial, spinal and orthopedic surgery. The proceeds of this financing will be used to continue advancing the company’s proprietary bone morphogenetic protein (BMP) based bioimplant toward human clinical trials, expected to begin in 2016.

Belmore Capital is a Toronto-based venture capital firm with a presence in Palo Alto, California and an investor in technology and life sciences companies.

“We are delighted that Belmore Capital shares our view of the game changing potential of our bone regeneration technology and delivery system. We are also pleased that Neil Belmore, a highly regarded intellectual property lawyer will join our board of directors”, said Dr. Cameron Clokie, CEO & co-founder of Induce Biologics.

Neil Belmore, Managing Director of Belmore Capital, added, “We are impressed with the Induce team, its technology, the BMP delivery system and the benefits its novel product can provide to surgeons and patients”.

Source: Evaluate™
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