RHEOVision Expands Facility Space

A Toronto, Ont.-based eye-care facility is now the largest in North America to provide rheopheresis, thanks to its patient treatment centre more than doubling in size.

RHEOVision AMD Centers (Toronto, ON) has expanded its Toronto centre to 3,400 square feet and eight rheopheresis dry AMD (age-related macular degeneration) treatment stations. AMD is a chronic, progressive eye disease that affects the central retina, or macula, and is a leading cause of vision loss in Canada.

Approved by Health Canada for the treatment of dry AMD, rheopheresis is a procedure that works to increase blood circulation in the eyes. With the consequent improved delivery of nutrients to the retina, the state of the retina can be stabilized, and in some cases, vision is improved.

RHEOVision plans to open patient treatment centres in the coming months in Vancouver, B.C., Ottawa, Ont., Montreal, Que. and Calgary, Alta.

Innovation Award to Victhom Human Bionics

The Armand-Frappier Foundation has bestowed its Innovation Award upon Quebec City, Que.-based Victhom Human Bionics Inc.

Earning recognition for Victhom was the highly innovative nature of its motorized leg prosthesis — the first of its kind worldwide. The device is geared toward improving the quality of life of individuals with physical dysfunctions. Victhom’s founder, Stéphane Bédard, invented the prosthesis.

The Innovation Award of the Armand-Frappier Foundation — an entity affiliated with the INRS Armand-Frappier Institute (Laval, QC) — is presented annually on the basis of a jury recommendation.

Seed Inoculant Market to Expand

Winnipeg, Man.-based Brett-Young Seeds (Winnipeg, MB) has announced its latest achievement in the seed inoculant market.

The firm has received registration from the Canadian Food Inspection Agency (Ottawa, ON) for BioBoost, its canola seed inoculant that contains naturally occurring microbes called plant growth-promoting rhizobacteria.

Developed over a three-year period with $450,000 in support from the Agri-Food Research and Development Initiative, BioBoost has been shown in field tests to increase canola yield by an average of eight per cent over non-inoculated canola, while not conferring detrimental effects on the crop.

BioBoost is slated for commercial availability in time for the 2006 canola planting season.

NSERC Grant to Medicure and Partners

A grant from the Natural Sciences and Engineering Research Council of Canada (Ottawa, ON) will help Medicure Inc. (Winnipeg, MB) and two collaborating institutions advance a novel cholesterol-lowering platform.

The Collaborative Research and Development grant was awarded to Medicure and its partners — the University of Manitoba (U of M) (Winnipeg, MB) and the University of Ottawa Heart Institute (Ottawa, ON) — and will permit further development of a technology to reduce very low density lipoproteins, an emerging cholesterol target in the treatment of atherosclerosis and coronary artery disease.

Earlier this year, Medicure acquired worldwide rights to the cholesterol-lowering platform from U of M and the Ottawa heart institute.

MDS Nordion Radioisotope On the Market

Copper-64 (Cu-64) is now commercially available from MDS Nordion (Ottawa, ON).

The radioisotope is mainly used as a positron emission tomography imaging isotope to give physicians higher resolution images for improved diagnosis and disease monitoring capabilities. Having a half-life of 12.7 hours means Cu-64 can be distributed commercially, which eliminates the need for an on-site isotope production facility.

Other Cu-64 applications include its use in molecular imaging and biodistribution studies as part of the drug-development process. The radioisotope also has possible therapeutic value in disease treatments.

A part of MDS Inc. (Toronto, ON), MDS Nordion specializes in radioisotopes, radiation and related technologies.

Gemin X Secures $62M US in Financing

Small-molecule cancer drug company Gemin X Biotechnologies Inc. (Montreal, QC) has closed a $65.2 million US venture capital round.

The financing — consisting of $50 million in private equity investment and up to $15.2 million via a loan facility — will support Gemin X’s continued clinical development of its lead product, GX15-070. Also supported is an ongoing Phase I/II clinical trial in patients with chronic lymphocytic leukemia and a Phase I trial in patients with solid tumours, as well as a second oncology product that the firm hopes to advance into the clinic.

Leading the financing were the H.I.G. Capital (Miami, FL) and Sanderling Ventures (San Mateo, CA) groups of funds. Gemin X’s current investors also participated in the deal. The loan facility will come via Investissement Québec’s (Quebec City, QC) Biolevier program.

Theratechnologies Closes Investment Sale

The close of an investment sale has garnered total proceeds of up to $8.4 million for Theratechnologies Inc. (St-Laurent, QC).

The firm has sold its 37-per-cent investment in oncology firm Celmed BioSciences Inc. (St-Laurent, QC) to a group of minority Celmed shareholders. The total proceeds are composed of an upfront cash payment of $2.8 million and future milestone payments related to the success of Celmed’s most advanced products.

Theratechnologies is focused on the discovery and development of therapeutic peptides in the field of endocrinology and metabolism. The firm’s lead product, TH9507, targets HIV-associated lipodystrophy.