National Research Council Canada-NRC

National Research Council Canada-NRC

March 17, 2011 12:24 ET

Economic Action Plan Supports Innovation in Dental Health

Innovative BioCeramix Inc. developing next generation bio-ceramic technologies

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2011) - High quality medical devices for dental and orthopaedic applications will be commercialized for the benefit of all Canadians, thanks to a Government of Canada investment. Minister Stockwell Day, President of Treasury Board and Minister for the Asia-Pacific Gateway, on behalf of the Honourable Gary Goodyear, Minister of State (Science and Technology), made the announcement today.

"Our government is investing in science and technology to create good jobs, strengthen the economy and improve Canadians' quality of life," said Minister Day. "Our investment is leading to the commercialization of high quality medical devices for dental and orthopaedic applications based on cutting-edge biomaterial technologies."

The $749,544 contribution from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) will enable Innovative BioCeramix Inc. to export novel, made-in- Canada bio-medical products, leading to job creation possibilities for Canadians. This funding supports an innovative research and development project that will assist the Vancouver-based company to develop and commercialize advanced orthopaedic nanocomposite cements. The specific biomedical uses—believed to be unique in the world—are new and improved solutions for the Canadian and international health care systems. Innovative BioCeramix expects to reach $10 million in profits by the end of 2012 and $100 million by the end of 2015 and to have created approximately 100 jobs by that time.

"We sincerely thank NRC-IRAP for their great support in the development of next generation bio-ceramic patented technologies for dental and orthopaedic applications," said Dr. Quanzy Yang, President and CEO of Innovative BioCeramix Inc. "We believe that NRC-IRAP provided critically needed assistance which will enable us to complete most of the necessary research and development for five new medical devices expected to receive pre-market approval from Health Canada, the US FDA, Europe CE Mark and China SFDA within the next two to five years."

Founded in 2004, Innovative BioCeramix Inc. is a world leader in advanced bio-ceramic technologies. It has successfully developed a variety of novel patented bio-ceramic technologies intended for use in dental and orthopaedic applications, such as endodontic treatment, high strength bone cement and bone void filler for the benefit of patients and the convenience of dental health professionals. The NRC-IRAP project initiated in April 2009 will continue until March 2012. The total cost of the project is $1,222,497.

Canada's Economic Action Plan provided new resources of $200 million to the National Research Council of Canada Industrial Research Assistance Program over two years to support innovative Canadian firms. To learn more, visit Canada's Economic Action Plan website (www.actionplan.gc.ca).

About National Research Council of Canada and its Industrial Research Assistance Program

The Industrial Research Assistance Program provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative Canadian small and medium-sized enterprises.

The program is delivered by a field staff of 240 professionals in more than 100 communities across Canada. The National Research Council of Canada is committed to working with small and medium-sized enterprises while they realize their full potential, turning knowledge and innovation into strategic opportunities, jobs and prosperity for all Canadians.

For more information (media only), please visit the NRC Industrial Research Assistance Program's website (www.nrc-cnrc.gc.ca/eng/ibp/irap.html).

Contact Information

  • National Research Council Canada
    Media Relations
    613-991-1431
    1-855-282-1637
    media@nrc-cnrc.gc.ca
    or
    Office of the Honourable Gary Goodyear
    Minister of State (Science and Technology)
    Gary Toft
    Director of Communications
    613-943-7599