Vancouver, BC, Canada –
Genome BC congratulates Precision NanoSystems, Inc. (PNI) on the completion of their $13.4 million private Series A financing. PNI will use the funding to expand product development, increase manufacturing capacity and accelerate commercialization of its novel instruments and reagents platform.
PNI is a University of British Columbia (UBC) spin-out company from the labs of Professors Pieter Cullis and Carl Hansen. Genome BC provided over $600,000 in direct investment into early-stage research performed by Professors Cullis and Hansen, and their collaborators at UBC, which provided the critical proof-of-concept for the technology underlying the products commercialized by PNI. Today, PNI is a global nanomedicine company that manufactures instruments, kits and reagents in the global nanomedicine market providing tools for drug development and cell-specific delivery to study, diagnose and treat disease.
“We are very grateful to have an organization like Genome BC in our community,” said James Taylor, Co-Founder & CEO of Precision NanoSystems. “Genomics is a fast-moving, exciting field and Genome BC recognizes the need to enable local researchers to accelerate commercialization”.
PNI’s flagship product, the NanoAssemblr™ Benchtop instrument, allows scientists to rapidly develop novel nanomedicine drug candidates for pre-clinical testing. PNI has sold over 60 NanoAssemblr Benchtop instruments worldwide to leading pharmaceutical and biotechnology companies as well as several elite academic institutions.
“It is gratifying to see that the early investment made by Genome BC has helped PNI to become and increasingly key player on the global nanomedicine market,” says Dr. Alan Winter, President and CEO of Genome BC. “I congratulate the team on their flagship product, The NanoAssemblr, which provide an expanded platform to develop the next generation of nanomedicines, significantly impacting the development of novel treatments for many diseases”.
About Precision NanoSystems, Inc.
Precision NanoSystems, Inc. (PNI) creates innovative solutions for the discovery, development and manufacture of novel nanoparticles for use as medicines and in medical research. PNI’s proprietary NanoAssemblr platform enables the rapid, reproducible, and scalable manufacture of nextgeneration nanoparticle formulations for the targeted delivery of therapeutic and diagnostic agents to cells and tissues in the body. PNI provides instruments, reagents and services to life sciences researchers, including pharmaceutical companies, and builds strategic collaborations to revolutionize healthcare through nanotechnology. To join the revolution visit our website.
About Genome British Columbia:
Genome British Columbia is a catalyst for the life sciences cluster on Canada’s West Coast, and manages a cumulative portfolio of over $710M in 254 research projects and science and technology platforms. Working with governments, academia and industry across sectors such as forestry, fisheries and aquaculture, agri-food, energy and mining, environment, and human health, the goal of the organization is to generate social and economic benefits for British Columbia and Canada. Genome BC is supported by the Province of British Columbia, the Government of Canada through Genome Canada and Western Economic Diversification Canada and more than 300 international public and private co-funding partners. www.genomebc.ca
Jennifer Boon Communications Manager, Sectors