PurGenesis Technologies announces funding from Investissement Québec for its Montmagny facilities

On June 11, 2009, PurGenesis Technologies Inc. announced it had received financial assistance from Investissement Québec through the latter's Strategic Support for Investment Program. Under this program, Investissement Québec is extending a $5 million repayable loan for the manufacturing and marketing of cosmeceutical products. PurGenesis will use these new funds to purchase high-capacity production equipment for its Montmagny plant.

PurGenesis (formerly known as PureCell Technologies Inc.) is a pharmaceutical company focused on developing botanical drugs as prescription medicines.

PurGenesis was advised in this transaction by a team from Fasken Martineau that included François Duchesneau, Claude Girard, Yves Chassé and Sophie Lessard Berger.