Ceapro Expands License Agreement With University of Alberta for PGX Technology
Worldwide rights granted to Ceapro to develop and commercialize PGX Technology in "All Industrial Fields"
EDMONTON, ALBERTA -- (Marketwired) -- 02/11/15 -- Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or the "Company"), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, announced an expansion to its agreement with the University of Alberta for the development and commercialization of an innovative drying technology called Pressurized Gas eXpanded Technology (PGX) to include all fields of use, including emerging industrial opportunities. The original agreement was established in April 2014 for the development and commercialization of the PGX technology in select large markets like cosmeceuticals, functional food, nutraceuticals and pharmaceuticals.
PGX is a novel technology for processing water-soluble biopolymers that provides several benefits including drying, micronization, functionality, purification, impregnation and extraction. During the last year Ceapro was able to demonstrate these benefits on a variety of different materials. PGX technology can produce numerous morphologies of biopolymers ranging from fine fibers to granular powder and has the potential to find commercial success in a wide range of industries including pharmaceuticals and nano-scale industrial products.
"While we remain focused on our expressed vision in healthcare, the ability of PGX to add value for other industries who face multiple challenges with their biomaterials will allow Ceapro to either act as a contract manufacturer or sub-license PGX to third parties, providing tremendous upside potential," said Mr. Gilles Gagnon, President & CEO of Ceapro. "Several large multinational companies from various sectors have already executed confidentiality agreements and are requesting us to assess their material with our technology."
Ceapro has been scaling up and refining the PGX technology since it began working with the technology in 2010. In 2014, Ceapro achieved a flow rate in excess of 3 metric tonnes per day and the first project with PGX to produce dried oat beta glucan suitable for the production of pharmaceutical grade tablets. Ceapro subsequently has commenced an investment in a commercial drying and demonstration skid, which will be capable of handling all of the Company's current oat beta glucan requirements as well as additional capacity to seed new large market opportunities that have arisen in the last year. In 2014, the PGX platform was successfully tested on other compounds such as corn starch, chitosan and nano-crystalline cellulose, establishing the broad application potential of PGX.
"We are very pleased with the progress and the potential of this licensed technology which further exemplifies the high level of innovation happening at the University of Alberta," said Mr. Chris Lumb, CEO of TEC Edmonton, the University of Alberta's licensing agent. "This agreement will create jobs and export revenue. It also demonstrates the importance of local licensing as a way to develop economic diversity, and to increase linkages between universities and their communities. We are delighted with this expanded relationship with Ceapro."
About Pressurized Gas eXpanded Liquid Technology (PGX)
PGX is a unique and disruptive technology with several key advantages over conventional drying and purification technologies that can be used to process biopolymers into high-value nano-sized polymer structures and novel bio-nanocomposites. PGX is ideally suited for processing challenging high-molecular weight, water-soluble bio-polymers and has the ability to make ultra-light, highly porous polymer structures on a continuous basis, which is not possible using today's conventional technologies.
About TEC Edmonton
TEC Edmonton helps tech entrepreneurs accelerate their growth. In addition to being the commercialization agent for University of Alberta technologies, TEC Edmonton operates the region's largest incubator for early stage technology companies, including both university spinoffs and companies from the broader community. TEC provides services in three broad areas: client business development, technology commercialization, and entrepreneur development. TEC's approximately 100 active clients are an outstanding group of companies: in the last two years they have generated $180M in revenue, raised $85M in financing and funding, invested $49M in R&D, grown both revenue and employment by 25%, and employ nearly 1100 people in the region. In addition, TEC has assisted in the creation of 7 spinoffs from the University in the last two years. In 2013 TEC Edmonton was identified by the Scandinavian UBI University Business Incubator Index as the 17th best university business incubator in the world - and the best in Canada.
About Ceapro Inc.
Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and "active ingredients" from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company's website at www.ceapro.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Jenene Thomas Communications, LLC
Investor Relations and Corporate Communications Advisor
Source: Ceapro Inc.
Released February 11, 2015