Folium Labs Inc Announces Closing of a New Investment Round and Receives NRC-IRAP Grant from the Government of Canada to Support IP Strategy
TORONTO, Dec. 9, 2019 /PRNewswire/ - Canadian biotechnology company, Folium Labs Inc., gains an undisclosed investment led by YEDI Venture Fund to support the development of a new line of LIVLI products and respective IP. This is the second round led by YEDI following the successful launch and commercial success of LIVLI brand in early 2019 in Canada and the US.
Folium Labs also receives NRC-IRAP grant from the Government of Canada to drive the final stages of R&D and commercialization of technology to improve bioavailability and targeted delivery of active ingredients including cannabinoids and beyond. The IP targets several key industries including cannabis, nutraceuticals, pharmaceuticals (cancer and diabetes), cosmetics, food and beverages. Folium Labs has retained first two commercial clients that will license the technology for their product development.
To support its growth strategy, Folium Labs welcomes Dr. Felix Polyak, PhD who joins the company effective December 1, 2019 as the Chief Science Officer. With over 50+ peer-review publications Dr. Polyak has over 40 years of experience in the development of FDA approved drugs including NATO-sponsored project resulting in EMEA approved medical product.
"The additional resources in the form of private investment and government subsidy give us necessary means to solidify our IP assets and to create an attractive portfolio of patents and trademarks in 2020" comments Dmitri Boudovitch, CEO of Folium Labs. "Our technological breakthroughs in the formulation methods that provide increased bio-availability and solubility of hydrophobic compounds including cannabinoids will be utilized in the next generation of LIVLI branded products as well as may provide lucrative licensing opportunities across a wide spectrum of industries"
About Folium Labs Inc.
Folium Labs Inc. is a Canadian based biotechnology and consumer products company focused on the development of innovative nutraceutical and cannabis-based formulations to optimize the overall cannabis experience. Utilizing the latest advances in the cannabis research and delivery systems, Folium is poised to pioneer a new non-smoking proprietary technology to modulate beneficial pharmacological properties and to improve bioavailability of cannabinoids. For more information, visit the Folium Labs website at https://www.foliumlabs.ca. Folium Labs launched its consumer brand Livli in early 2019 with a line of daily natural health supplements targeting cannabis users, available at www.livelivli.com.
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SOURCE Folium Labs Inc.