Ceapro Inc., 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.
“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.”
