Today in health tech: GenePOC and Interface Biologics close rounds

GenePOC

Toronto-based Interface Biologics announced this week that it has closed a Series B financing round led by DSM Venturing and BDC Capital. While terms of the round were not disclosed, Interface Biologics had previously raised a $7 million round in 2011 with BDC as a principal investor.

“BDC Capital has been an early and active investor in Interface Biologics since 2004,” stated Dion Madsen, Senior Managing Partner in the Healthcare Venture Fund at BDC. “We believe the company is at the right stage to capitalize on the opportunity to work with a major strategic investor and accelerate the commercialization of its polymer technologies and the products that they enable.”

A University of Toronto spinoff entity, located in MaRS, Interface Biologics develops biomedical-polymer tech to improve the safety and effectiveness of medical devices. IB has indicated it will use the funds to continue commercial development of its technology.

Quebec City-based GenePOC also announced the close of a funding round this week, led by Debiopharm Diagnostics SA and Emerillon Capital. While terms of the round were also not disclosed, the deal makes Debiopharm the largest shareholder in GenePOC.

“The investment in GenePOC confirms our strong belief in the future success of Point of Care technologies. GenePOC technology has the potential to be a game changer and should be on the market in 2016,” said David Deperthes, CEO of Debiopharm Diagnostics.

Founded by Dr. Michel G. Bergeron, Director of the Infectious Disease Research Center at Université Laval, GenePOC is developing a simple microfluidic real-time PCR device to rapidly improve the diagnosis of infectious diseases.

Douglas Soltys

Douglas Soltys

Douglas Soltys is the Editor-in-Chief of BetaKit and founder of BetaKit Incorporated. He has worked for a few failed companies and written about many more. He spends too much time on the Internet.