Organization: Innovatech du grand Montréal

IndustryHub receives $1.5 million in initial financing

Privately held IndustryHub of Montreal has completed a $1.5-million initial round of financing with an option of an additional $2.2 million to accelerate R&D of its e-procurement and supply chain even management software. The financing was provided by Innovatech du Grand Montréal, Fonds Investissement Desjardins and Investissements M&M. IndustryHub’s software aims to streamline business processes…

SkyePharma buys equity stake in RPT Pharma

UK-based SkyePharma plc has acquired a 40.2% interest in RTP Pharma Inc for US$20 million and has participated in a $15-million equity infusion to fund ongoing operations. The involvement of SkyePharma will assist the Montreal-based firm in expanding its market position through strategic project collaboration and access to Skye’s expertise in controlled release and inhalation…

Innovatech invests in Boston-based VIMAC

Innovatech du grand Montréal has invested US$3 million in Venture Investment Management Co (VIMAC), a Boston-based venture capital firm focused on start-up firms in the areas of information technology and the Internet. VIMAC is currently unfolding a geographic diversification strategy, with 25% of its available funds coming from foreign sources. It has now secured $64…

Amphitech receives $5-million investment

Amphitech International Inc has received a $5-million syndicated investment to further develop its gyro-stabilized platform technology for use in an obstacle awareness radar system for aircraft and helicopters. The Laval PQ-based firm received the funding from Solidarity Fund QFL ($2.5 million), Innovatech du Grand Montréal ($1.5 million) and private investors ($1 million). The obstacle awareness…

CRYOCATH COMPLETES $40-MILLION IPO

CryoCath Technologies Inc has raised $40 million with an initial public offering (IPO) of eight million shares, the largest life sciences IPO in Canadian history. The Montreal-based developer of catheter cryotherapy systems for the treatment of cardiovascular disease will use most of the proceeds to complete clinical trials and the regulatory process for its lead…