As GenoLogics Life Sciences Software Inc. celebrated a $6.3 million round of financing, Alan Winter, CEO of Genome British Columbia offered congratulations. “As a partner in the University of Victoria- Genome British Columbia Proteomics Centre, where the life sciences bioinfomatics software was developed, we are pleased to see the results of funding support that was provided two years ago”, says Winter.

GenoLogics founder James DeGreef says “It’s fair to say that without the initial support from Genome British Columbia and the collaboration with MDS Laboratories we would not have been able to develop the product and attract this high level of venture capital support. This financing will allow us to scale up to meet the growing demand by proteomics researchers in the U.S. and Europe.”

The Proteomics Centre is one of 22 tenants, employing 1,175 people in the Vancouver Island Technology Park outside of Victoria, B.C. “This is an excellent example of a public /private partnership and we’re pleased that it facilitated the building of the proteomics facility,” says Dale Gann, Manager, Business Development for the Park. Michael Ball, CEO of GenoLogics adds, “we’re going to stay in the Park, the synergies with the other tech companies are pretty impressive.”

The $6.3 million investment co-led by Seattle-based OVP Venture Partners and Yaletown Venture Partners of Vancouver, also included investment from GrowthWorks Capital and local angel investors. Of note, this is the first time in more than five years that a major Seattle-based venture fund has invested in a Western Canadian Company. OVP General Partner Chad Waite, well known for his track record in bio-IT investing said he sifted through dozens of business plans before investing in GenoLogics. “I wouldn’t have done this deal unless it was as good as anything I see in the States,” said Waite, who is joining GenoLogics board along with Yaletown’s Hnatiuk and Maria Pacella of GrowthWorks Capital.

“An opportunity of this magnitude attracts strong investment partners. We’re thrilled to be backing this exceptional BC company and joining forces with a U.S. venture firm of OVP’s caliber to move the company forward,” concludes Steve Hnatiuk, partner at Yaletown Venture Partners.

Background Information
GenoLogics develops bioinformatics solutions that help life science and pharmaceutical laboratories, specializing in the emerging field of proteomics research, to manage, integrate and analyze enormous volumes of scientific and lab data to advance health science research.

Genome British Columbia is a research organization, working with all levels of government, universities and industry that invests in and manages large-scale genomics and proteomics research projects and science and technology platforms. With major investments from Genome Canada and the Province of British Columbia, the research is focused on areas of strategic importance such as human health, forestry, fisheries, ethics, agriculture and the environment.

The University of Victoria-Genome BC Proteomics Centre has been in operation since 1984 under the direction of Dr. Robert Olafson and is the longest operational protein core facility in Canada, providing analytical services to Canadian and international, academic, industrial and government laboratories.

Media Contacts
Linda Bartz
Director
Genome BC
Tel: 604.637.4373

Rachael Froese Zamperini
Communications Communications Officer
Genome BC
Tel: 604.637.4378