Integrative Proteomics, Inc. Completes US$8 Million Financing.Business Editors TORONTO--(BUSINESS WIRE)--Aug. 17, 2000 Integrative Proteomics, Inc., ("IPI (Intelligent Peripheral Interface) A high-speed hard disk interface used with minis and mainframes that transfers data in the 10 to 25 MBytes/sec range. IPI-2 and IPI-3 refer to differences in the command set that they execute. See hard disk. ") is pleased to announce the completion of an initial US$8 million equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . A broad range of investors in the United States, Europe and Canada participated in the financing, including the Lombard Odier Immunology Fund and CC Capital Partners Inc. IPI was created as a result of a merger between Chalon Biotech Inc. and Borealis Biosciences Inc. The Company is a leader in the emerging post-genomics field of proteomics and is pioneering innovative technologies that will enable drug companies to bridge the gap between genomics and drug discovery. The company is also a leader in the production of purified proteins and the detection of protein-protein interaction. IPI was founded by leading experts in proteomics at the University of Toronto's Banting and Best Department of Medical Research Banting and Best Department of Medical Research is the preeminent Canadian biomedical research institute located on the campus of University of Toronto. The department is named after Drs. and the Ontario Cancer Institute The Ontario Cancer Institute (OCI), Canada's first dedicated cancer hospital, opened officially and began to receive patients in 1958, although its research divisions had begun work a year earlier. , the research arm of Princess Margaret Hospital There are several Princess Margaret Hospitals :
IPI has developed technology platforms for high throughput protein expression and purification, protein-protein interaction and three-dimensional structural determination. In addition, IPI is developing a proprietary relational proteomics database of protein structure and function that will be mined using computational knowledge discovery tools. "This financing will allow Integrative Proteomics to expand beyond the narrow fields of structural genomics and protein-protein interactions, to be the leader in the next frontier of proteomics in which structure, function and bioinformatics are integrated to bridge the entire gap between genomics and drug discovery." Dr. Aled Edwards, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of IPI said. "Proteomics has the potential to eclipse the size of the entire genomics market and we intend to leverage our proprietary technological advantage to become the dominant proteomics company in this market," he added. CC Capital Partners Inc. is a Toronto-based merchant banking group; the Ontario Cancer Institute is the research arm of the Princess Margaret Hospital also located in Toronto; the Lombard Odier Immunology Fund is one of the major life sciences funds worldwide, with over US$2 billion under management. |
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