GAINESVILLE & BOCA RATON, Fla.--(BUSINESS WIRE)--The Florida Institute for the Commercialization of Public Research (Florida Institute) announced today that it has finalized a funding agreement with Integene International Holdings (Integene), a vascular biotechnology company that has developed platform technology for ischemia and associated complications. The Institute supports new company creation based on publicly-funded research across the state, and bridges early funding gaps for companies spinning out of universities and research institutions. In order to qualify for Florida Institute funding, companies must raise matching private investment capital.
In December 2013, the Florida Institute and Dawson James Securities, Inc. (“Dawson James”, Member FINRA/SPIC) announced an alliance to augment early investment in emerging growth innovation companies. Companies undergo a thorough review and vetting process led by the Florida Institute, who provides up to $300,000 in funding to qualified companies. Through the partnership, Dawson James leverages its vast retail investor network to provide the required matching investment. In this case, Dawson James was able to raise more funding than what was required to match Florida Institute funds.
Integene was founded to capitalize on patented biotechnology created to optimize gene and stem cell treatments for cardiovascular disease. The company’s founder, Dr. Keith Webster and his team, in association with the University of Miami, have developed procedures for targeting and regulating human growth factor genes within host tissues, and bio-engineering stem cells to provide optimized therapies for ischemia related disease.
According to Dr. Webster, “The fundraising support provided by Dawson James enabled us to rapidly and efficiently raise the required matching funds to qualify for funds provided by the Florida Institute. These funds will be used to advance the clinical testing of treatments for major life-threatening diseases, initially a condition known as critical limb ischemia for which limb amputation may be the only option for many patients and eventually multiple other cardiovascular indications, diabetic retinopathy and solid tumors.”
“Dawson James Securities has been assisting emerging growth companies since 2004, and is interested in identifying and supporting quality new companies spinning out of Florida’s research institutions,” said Robert Keyser, Jr., Dawson James CEO. “As a full-service boutique investment bank, we are pleased to leverage our broad investor placement capabilities to support the growth of promising Florida companies.”
“We formed this alliance to coordinate company financing from angel investors, venture capitalists, private equity and public markets and to expand Florida’s innovation platform and investor base,” said Jamie Grooms, CEO of the Institute. “The Integene financing represents the first transaction resulting from this alliance, and we will continue to work with Dawson James to support the next generation of great Florida companies.”
About the Florida Institute
Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida’s state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. Over 100 new company projects have been identified across the state, and the Institute deploys company building and funding programs to promising Florida startups. Thirty-two companies have been funded since the program’s inception.
About Dawson James Securities
Dawson James Securities, Inc., a member of FINRA/SPIC, is a full service investment bank headquartered in Boca Raton, FL. Individuals with interest in investment in emerging growth companies can contact an appropriate Dawson James representative at 561-391-5555.
Integene International Holdings is a biotech company that has developed a comprehensive treatment for cardiovascular ischemic disease using combinations of proprietary gene and stem cell procedures. Integene technology is based on more than 20 years of NIH-supported pre-clinical development and is currently initiating Phase I/II clinical trials for the treatment of peripheral artery disease (PAD) using these procedures.