IatroQuest receives $4.8 million in financing

IatroQuest Corp has received a $4.8-million private placement to further develop its Bio-Alloy technology platform for the detection of biological and chemical agents. The financing was provided by Investissement Desjardins ($1.5 million), Business Development Bank of Canada ($1.5 million) T2C2 Bio 2000 ($1 million) and several private investors ($800,000). IatroQuest is a spin-off of the National Research Council, with the assistance of the Ottawa branch of Inno-Centre. The Ottawa firm’s Bio-Alloy is a ‘bio-photonic’ technology that uses biosensing modules (including micro-array biochip formats) to detect bacteria, viruses and toxins in real-time with a high degree of sensitivity. It will be aiming its OEM products at military, civilian and medical markets. Iatro-Quest has appointed Jean Bourbonnais as its new president and CEO, taking over from co-founders Dr David Armstrong (executive VP innovation and regulatory affairs) and Dr Martine Lafrance (chief technology officer)....