A great leap for Interface Biologics, Inc.
Since Interface Biologics Inc. (IBI) was founded in 2001, the climb to our success as a company today has been long, but extremely rewarding. And it just got better.
Last week, we announced that one of our licensing partners, AngioDynamics, received FDA 510K clearance for their BioFlo PICC product, which incorporates IBI’s EndexoTM technology. This represents a big leap toward greater commercial traction for IBI.
What is IBI?
IBI is a privately held, early commercial stage company that develops transformative biomedical polymer technology to improve the safety and effectiveness of medical devices. Our primary technology areas are:
1) Anti-thrombogenic additives that reduce thrombosis (blood clotting) caused by medical devices
2) Programmable combination drug delivery devices
IBI’s EndexoTM materials are like Teflon™ for medical devices, but they’re not a coating; rather, they’re part of the device itself. In technical terms, they’re self-locating bio-medical polymer additives that create a passivating surface. This surface reduces platelet adhesion, protein adsorption and thrombus formation on medical devices.
A Canadian success story
IBI was founded by biomaterials authority, Dr. Paul Santerre, based on his groundbreaking work at the University of Toronto on improving the biocompatibility of medical implants. The company was spun out as a separate firm in 2001 and has raised a total of $27 million in venture capital ever since – all from Canadian investors.
IBI’s current investors are the Business Development Bank of Canada (BDC), Covington Capital and the MaRS Investment Accelerator Fund (IAF). IBI has assembled a team of scientists and experienced business executives to develop and license the company’s strong intellectual property portfolio. IBI was one of the first tenants at MaRS and continues to have the distinction of being the largest incubator tenant.
FDA approval and commercial traction
The FDA approval is exciting news because it gives the green light to AngioDynamics’ vascular access products in the US, where they are expected to launch in the next 30 days.
In Canada, the BioFlo PICC with EndexoTM Technology has been approved since October 2011 and commercial traction has been very good. In fact, a recent study done by a hospital in Vancouver comparing the BioFlo PICC to another similar product indicated that the BioFlo PICC had a 48% reduction in occlusions (inability to infuse or aspirate), a 38% reduction in t-PA use (a drug used to break up blood clots) and a 37% reduction in DVT (deep vein thrombosis). This “real world” data is the key behind driving commercialization.
IBI has also announced an agreement with Fresenius Medical to use its anti-thrombogenic additives in chronic dialysis systems. Other medical applications being investigated include extracorporeal tubing, vascular grafts, filter housing, pacing leads, and plasma separators.
Always looking for good people
All this good news means growth. At IBI, we’re always looking for smart, capable people who are willing to roll up their sleeves and join a dynamic, entrepreneurial, innovative team. If that sounds like you, look us up at www.interfacebiologics.com.