Canada Economic Development

Canada Economic Development

October 29, 2013 10:30 ET

Immune Biosolutions Inc. Receives Financial Support From Government of Canada

SHERBROOKE, QUEBEC--(Marketwired - Oct. 29, 2013) - The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced that the start-up firm Immune Biosolutions Inc. has been granted financial assistance to launch its production and commercialization activities.

"By supporting the start-up of Immune Biosolutions, the Government of Canada is giving recognition once again to the fundamental role businesses play in economic growth and job creation," said Minister Lebel.

Founded in 2012 by three Université de Sherbrooke graduates, Immune Biosolutions specializes in the extraction of antibodies from chicken eggs for use in such areas as biomedical research. The firm has developed innovative know-how that serves in the production of large quantities of high-quality antibodies at low cost.

The assistance from Canada Economic Development will enable Immune Biosolutions to purchase the laboratory equipment it needs to generate the antibodies and pursue its research and development activities. This funding will also serve to support the company's commercialization efforts on domestic and foreign markets.

The launch of the enterprise's operations will help strengthen the Estrie region's technology cluster, particularly the life sciences industry in Sherbrooke. Immune Biosolutions was named winner of the Youth Entrepreneurship Challenge Grand Prize in the 2013 Quebec Entrepreneurship Contest.

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This support, granted in the form of a $250,000 repayable financial contribution, has been awarded through Canada Economic Development's Quebec Economic Development Program.

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