Press Release (ePRNews.com) - TORONTO - Aug 23, 2018 - Inolife R&D Inc. (“Inolife”), an emerging life science company and an innovation leader in comprehensive and cutting-edge Injectable Pharma Solutions, is pleased to announce that it has closed its final private placement. The $2 million round was oversubscribed at over $2.5 million.
Proceeds exceeded the originally announced target of $2 million due to high investor demand and will be used by the Corporation to finance its manufacturing, marketing, regulatory, general and administration expenses.
Substantial Strategic investments were made by Dr. John Leombruno and Dr. Daniel Vermette. Both men are among the most successful and renowned Canadian pharmacists, as well as strategic investors with a record of success and decades of experience in the pharmaceutical industry.
The high level of interest in our private placement demonstrates the market’s trust in the value our solutions are creating and the quality of the decisions that were made in regard to the company direction.
“The high level of interest in our private placement demonstrates the market’s trust in the value our solutions are creating and the quality of the decisions that were made in regard to the company direction,” said Michael Wright, President and Chief Executive Officer of Inolife. “We are honored by the great vote of confidence made by such esteemed pharmaceutical industry experts to make investments in Inolife.”
As previously announced on March 27, 2018, Inolife intends to make its Public Listing in Q3 2018.
Inolife is also proud to announce the nomination of Dr. John Leombruno to its Board of Directors. The addition of Dr. Leombruno’s 20 years of business, pharmacy and pharmaceutical industry experience will allow Inolife to continue positively impacting the world through the various markets its injectable technologies are serving.
“It is a pleasure to join Inolife as a member of the board,” said Dr. Leombruno. “I hope to serve the company by offering my expertise in bringing market access, and in serving patients in the pharmaceutical industry for more than two decades. We are on the threshold of a new era in healthcare.”
About Dr. John Leombruno
Formally trained as a Pharmacist, Dr. Leombruno has earned his MBA and a Ph.D. in Pharmacoepidemiology. His key research interests include the design and analysis of clinical trials, the use of administrative databases, and statistical research into various data pooling methods for estimating drug safety.
Prior to creating the Patient Services and PharmaSolutions divisions of GMD, which was recently sold to McKesson Canada, Dr. Leombruno had responsibility and experience in many areas of the pharmaceutical industry including market access, medical information, pharmacovigilance, medical affairs and business development. He has held roles ranging from Manager, Market Access to Director, Business Development, and Vice President, Medical Affairs.
About Inolife R&D Inc. / Inolife Sciences Corporation
Inolife R&D Inc. is a life science company and an innovation leader in needle-free injection technologies. Inolife commercializes patented and FDA-cleared needle-free injection devices and intends to soon start the commercialization of a whole suite of prescription drugs. The company was founded to take advantage of novel techniques of the liquid jet and ballistics-based epidermal drug injection that improve patients’ quality of life by making medicines easier to administer, work better, and remove the anxiety and inconvenience associated with hypodermic needle injections.
For more information about Inolife and its products, please visit www.inolifesciences.com.
President & CEO, Inolife R&D Inc.
Phone: 1 (866) 834-3777
Certain statements contained herein are “forward-looking” and are based on the opinions and estimates of management, or on opinions and estimates provided to and accepted by management. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied. Readers are therefore cautioned not to place reliance on any forward-looking statement.