Cycle Capital Management Concludes an Investment in Nova Scotia

Cycle Capital Management Inc. today (June 21, 2011) announced a $4-million financial contribution of Cycle Capital Fund LP in LED Roadway Lighting Ltd. (LRL), a Nova Scotia designer and manufacturer of LED-based street and area lighting. This investment is part of a total round of $8 million and is made in collaboration with Nova Scotia Business Inc. (NSBI), the province's private-sector-led business development agency.

FDA Approves Immunovaccine’s Application for a Phase I/II Clinical Trial for an Ovarian Cancer Vaccine

Immunovaccine Inc. (TSX-V: IMV), announced today that the US Food and Drug Administration (FDA) reviewed and cleared its Investigational New Drug (IND) application for a Phase I/II clinical study with DPX-Survivac, a therapeutic cancer vaccine. DPX-Survivac will be tested in patients with ovarian cancer.

New Brunswick to Contribute to Regional Venture Capital Fund

Regional co-operation in Atlantic Canada took another step forward today, June 5, as New Brunswick joined Nova Scotia in a regional venture capital fund to support emerging companies in the region.

New Brunswick will contribute $15 million to fund, created by Nova Scotia and announced in April. Companies involved in clean technology, life sciences, information technology and other high-growth sectors will be able to access the fund.

Seaforth Energy Inc. Secures $1.9M Atlantic Innovation Fund Investment

Seaforth Energy Inc., a leading wind turbine manufacturer and renewable energy integrator, will receive $1.9 million from the Atlantic Canada Opportunities Agency (ACOA) under the Atlantic Innovation Fund (AIF) to develop new wind turbines.

The funding will be used towards Seaforth Energy’s $2.9 million R&D project already underway to extend its proven AOC turbine product line.

Immunovaccine Receives $2.9M from ACOA

Immunovaccine Inc. (TSX-V: IMV), a clinical stage vaccine developer, will receive $2.9 million from the Atlantic Canada Opportunities Agency (ACOA), under the Atlantic Innovation Fund (AIF).

This non-dilutive funding will enable Immunovaccine to develop new diagnostics to identify specific subsets of cancer patient populations that would benefit most from receiving DepoVax™-based vaccine therapies. This funding will also help the company develop additional methods for measuring vaccine activity, information that will help the company design future Phase II clinical trials.

Innovacorp Launches Science and Technology Advisory Council

Early stage technology companies in the province are getting improved access to scientific and technology expertise thanks to Innovacorp's new advisory council.

"I'm delighted to have a group of this calibre as a resource for us and our clients," said Clifford Gross, president and CEO of Innovacorp. "Their experience, knowledge of science and industry, and contacts in the global community will be invaluable.

"The council will also be a great platform for assessing emerging science and technology issues important to Nova Scotia's economic future."


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