TORONTO, Dec. 9 /PRNewswire/ - Interface Biologics Inc. - a privately held developer of novel biomedical-polymers for use in implantable medical devices - is announcing that it has secured a $5mm financing round. Participating in the round were existing investors Covington Capital, VG Partners and BDC Capital. In connection with the financing, Lily Lam from Covington Capital is joining the Board of Directors and Thomas P. Reeves has been appointed the new President and CEO and is also joining the Board of Directors.
"We are fully committed to Interface Biologics and are excited about the continued commercialization opportunities for the Company in the near future. We're pleased to have Tom Reeves joining the Interface team and believe his broad leadership experience - most recently as President and COO of OccuLogix, a medical device company focused on treating age related diseases from the eye (NASDAQ) - will complement our existing scientific and technical expertise as we move into the clinical application and commercialization phase with many of the Company's novel polymer products," said Jeff Courtney, General Partner of VG Partners. "We are also excited to welcome Lily Lam, Vice President Investments, from Covington Capital to the Board of Directors."
"The fact that Interface has been able to raise a significant new round of financing in these difficult economic times is testament to the strength of the organization and its unique products in key applications and rich IP that crosses the spectrum of medical devices," said Tom Reeves, President and CEO of Interface Biologics, Inc. "I am pleased to be joining the Interface team and look forward to leading the team as we capitalize on the research and development work that is solidly established and execute on the commercialization of a number of the products in our portfolio."
About Interface Biologics: Interface Biologics is a biomaterials company based in Toronto, Cana
|SOURCE Interface Biologics Inc.|
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