Innovative BioCeramix, a Canadian firm developing nanocomposite cements for dental and orthopedic applications, has received nearly $750,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).
"We sincerely thank NRC-IRAP for their great support in the development of next generation bioceramic patented technologies for dental and orthopedic applications," said Dr. Quanzy Yang, president and CEO of Innovative BioCeramix, in a press release. "We believe that NRC-IRAP provided critically needed assistance which will enable us to complete most of the necessary research and development for five new medical devices expected to receive premarket approval in Canada, the U.S., Europe, and China SFDA [State Food and Drug Administration] within the next two to five years."
Innovative BioCeramix expects to reach $10 million in profits by the end of 2012 and $100 million by the end of 2015, and have created about 100 jobs by that time, the company noted.
Founded in 2004, Innovative BioCeramix has already developed various patented bioceramic technologies intended for use in dental and orthopedic applications, including high-strength bone cement and bone void filler.
