Quthero Secures $500,000 Investment Boost from the Ontario Centre of Innovation

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Mar 11, 2024, 14:04 ET

TORONTO, March 11, 2024 /PRNewswire/ -- Quthero, a pioneering biotech company renowned for its unique Q-peptide platform technology, proudly announces the successful acquisition of $500,000 in investment funding from the Ontario Centre of Innovation's (OCI) Life Science Innovation Fund. This is in addition to a co-investment of $850,000 for a total round size of $1,350,000.

"Through the Ontario Life Sciences Innovation Fund, our government is ensuring that Ontario companies, like Quthero, have the resources they need to develop cutting-edge solutions," said Vic Fedeli, Ontario's Minister of Economic Development, Job Creation and Trade. "We congratulate Quthero on the success of their unique Q-peptide platform technology and thank them for their contributions to Ontario's life sciences sector."

OCI is renowned for fostering collaboration among industry, academic, and government partners, strategically invests in research and development, technology innovation, and commercialization initiatives to deliver optimal returns on innovation for Ontario and Canada. Quthero's groundbreaking technology facilitates the complete regeneration of a patient's natural tissue with minimal scarring.

"We are excited to have OCI's investment in Quthero which will allow the company to begin launching our dermatological post-procedure products. These products are designed to enhance patient experience and speed up recovery after aesthetics procedures such as microcoring and radio frequency microneedling," said Milica Radisic, PhD, President and CEO of Quthero.

Quthero has harnessed the potential of its patented Q-peptide platform technology to develop multiple applications. Proven to accelerate healing, reduce redness and bruising, and prevent scarring post-cosmetic procedures, Quthero's products are available for direct purchase on their website www.quthero.com or through participating physicians.

"Quthero's groundbreaking technology has the potential to transform lives. The company's patented Q-peptide platform is versatile in its applications. OCI is proud to support the development and commercialization of this technology. This investment demonstrates our commitment to advancing innovative solutions that contribute to Ontario's thriving innovation sector and beyond," said Claudia Krywiak, President and CEO, Ontario Centre of Innovation.

About Quthero:
Quthero is discovering and developing innovative applications for tissue regeneration utilizing their patented Q-peptide technology that are effective, safe and cost competitive. To learn more, visit Quthero.com.

About the Ontario Centre of Innovation:
The Ontario Centre of Innovation (OCI) brings industry, academic, and government partners together to invest in collaborative R&D, technology development, and commercialization opportunities that generate the highest return on innovation for Ontarians.

As an ecosystem connector, OCI initiates unparalleled partnership opportunities, develops and manages successful industry-academic collaborations, supports high-potential SMEs in commercializing ground-breaking research, and provides hands-on training and skills development opportunities for the next generation of highly-skilled talent.

OCI drives economic growth and job creation through investments in the development, commercialization, and adoption of advanced technologies.

For more information: https://www.oc-innovation.ca.

SOURCE Quthero, Inc.