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PerOs Systems Technologies Inc. Closes $8 million Investment For Commercialization Of Its Oralject Technology


10/19/2005 5:11:15 PM

ST-NICOLAS, Quebec, May 10 /PRNewswire/ -- PerOs Systems Technologies Inc. (PerOs), a leader in the development of oral delivery technologies for animal health and disease control, announced today that it has closed an $8 million investment by Jormian Capital Inc. (Jormian).

"Jormian is particularly excited by the breadth of the technology and its potential impact. We are supporting PerOs with this significant financial commitment and are lending our considerable financial and marketing acumen in anticipation of the imminent commercial release of the first PerOs products and the realization of its enormous potential", said Mr. Ian Kott, President, Jormian Capital Inc.

"We feel the Oralject(TM) technological platform will revolutionize the drug delivery industry for animals in the short term, and, over time, should have a very large impact on the human side as well. With this investment, the Company is now on a strong financial footing and structured to become profitable with the commercialization of the first applications for Oralject(TM) over the next 6 months. Jormian will bring us a solid financial expertise, and we look forward to their continued support for our ongoing commercialization of our existing technologies and the continued development of new ones." stated Mr. Denis Bernier, President of PerOs Systems Technologies Inc.

About PerOs:

PerOs Systems Technologies Inc. is a privately held biotechnology company that has developed efficient non-encapsulation strategies to provide oral administration of bioactive compounds (peptides, vaccines, antibodies, etc.). The Company holds patents on a number of these developments, and has commenced their commercialization.

The company was set-up in Canada in early 2000 by Denis Bernier and Dr. Grant Vandenberg after a revolutionary discovery that permits oral delivery of therapeutic molecules including vaccines, peptides and nutraceuticals. PerOs' patented technology, Oralject(TM), will revolutionize drug delivery by providing a very low-cost and effective large molecule delivery alternative to current drug delivery systems, including injection. Oralject(TM) technology is the first means of delivering large molecules in a cost-effective, accurate, modulated, safe and efficient manner.

PerOs Systems Technologies Inc.

CONTACT: Jean-Simon Venne, Vice President Business Development, PerOsSystems Technologies Inc., (514) 481-0349, Email: jsvenne@PerOsbio.com


Read at BioSpace.com


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