HALIFAX, Canada, January 21 /PRNewswire/ -- ImmunoVaccine Technologies Inc. (IVT), a clinical stage vaccine development company, will receive CAD $3 Million from the Atlantic Canada Opportunities Agency (ACOA), under the Atlantic Innovation Fund (AIF). This funding will enable IVT to undertake a CAD $6 million project to develop new potent immune enhancement systems.
"Having ACOA recognize the market potential of our innovative vaccine platform is a tremendous boost," commented Brian Lowe, Vice President of IVT. "This funding will enable us, over the next three years, to create novel vaccines for the treatment of cancer and infectious diseases.
This funding announcement is the maximum grant awarded to a private company under Round V of the AIF. The funds will further IVT's research collaborations and commercialization opportunities with pharmaceutical companies worldwide.
Atlantic Innovation Fund investments were announced earlier today by The Honourable Peter MacKay, Minister of National Defence and Minister of the Atlantic Canada Opportunities Agency. The Atlantic Innovation Fund is designed to increase leading edge research and development (R&D) in Atlantic Canadian research facilities, leading to the launch of new ideas, products, processes and services.
About the VacciMax(R) Platform
ImmunoVaccine Technologies Inc. (IVT) has developed a breakthrough vaccine-enhancement technology - the VacciMax(R) platform. It is comprised of a mixture of liposomes and adjuvants. The VacciMax(R) platform is able to stimulate an earlier, more powerful, long lasting immune response that could provide a new way to treat a wide range of diseases.
The opportunities for market applications and medical benefits for the VacciMax(R) platform are broad, and include prostate, breast, cervical, ovarian, colon and lung cancer treatments, as well as vaccines for pandemic influenza and other infectious diseases.
For further information: Brian Lowe, Vice President IVT, +1-902-492-1819, bl.ivt@immunovaccine.com; Jennifer Ayotte, Communications, +1-902-209-4704, jayotte@impactcommunications.ca
