Induce Biologics Receives Financing from Belmore Capital
February 27, 2015 (Palo Alto, California and Toronto, Canada): Induce Biologics Inc. (“Induce”), a pioneer in bone regenerative medicine research, announced today that the company has closed a financing with Belmore Capital, who has committed to invest $2 million and an option to additionally invest 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 game-changing 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 technology and BMP delivery system and the benefits it can provide to surgeons and patients”.
For more information please contact:
Dr. Cameron Clokie DDS, PhD
+1 416 599 2424
+1 650 319 5105 (Palo Alto)
+1 416 662 1137 (Toronto)