SAGUENAY, QC, Feb. 7 /CNW/ - Technologie Biolactis, Inc., a Canadian biotechnology company specializing in the development of lactoceuticals focused on cardiovascular, metabolism and obesity-associated disorders, announced the completion of its Series A financing round of $7.3 million CAD with provision for follow on capital ($1.4 million). The round was led by Inventages Venture Capital Investments Inc. Biolactis also improves its balance sheet by conversion onto equity of the long-term liabilities held by Investissement Québec, Amisk and CQVB totalling $1.9 million.
Dr. Pierre Lemieux, President and CEO of Biolactis, Inc. commented: "This financing is a vote of confidence in our approach to health problems associated with poor dieting, lifestyle habits and aging. We are pleased to be working with an experienced international investor with deep industry expertise and a network of partners. Their involvement will greatly enhance our development programs and the commercialization of products in fast-growing high value added markets."
As part of the financing, Oxana Kukhaneva, Investment Manager at Inventages, has joined the Biolactis Board of Directors. She noted: "We believe that Biolactis' committed team, combined with their novel approach and unique products, will bridge the gap between the food and pharmaceutical industry by addressing effective prevention and management of chronic lifestyle related conditions, like hyperlipidemia, obesity and diabetes. We are pleased to be part of this company and an outstanding opportunity to improve the quality of life."
About Technologie Biolactis, Inc.
Biolactis, Inc. is a privately held, Canadian-based biotechnology company focused on developing novel bioactive ingredients, nutraceuticals and medical food, addressing obesity and metabolic syndrome-associated problems.
For further information, visit www.biolactis.com and www.nutractis.com