MONTREAL -- Galileo's proprietary platform is designed for the identification of genes associated
with common and economically important diseases and the rapid production of high
quality targets for drug development and diagnostic products. By identifying genes
and understanding their biological function, the Company hopes to discover the
causes of many physical disorders that can arise with genetic variations. Galileo's
research relies on the study of genetic data collected from the Quebec founder
population and the Company is using its proprietary technologies to build the
one of the world's leading DNA databanks.
"The quality of Galileo's team and the compelling value proposition of
their technology have positioned them to become a leading population genomics
company." said Ron Patterson, Partner of MM Venture Partners. "We
have a great deal of confidence in Galileo's core process and strongly believe
it will be a significant player in the fast growing fields of population genetics
and disease gene discovery."
"This financing strengthens our cash position and provides more working
capital for Galileo to continue to develop its business," said Dr. John
Hooper, President and CEO of Galileo. "We are very pleased to have MM Venture
Partners on board. Their technical and financial expertise and strong market
credibility provides further validation for Galileo."
About Galileo Genomics Inc.
Galileo Genomics is a Montreal-based private genetics company that conducts
research in Quebecers of French descent using cutting-edge technologies, to
identify genes that cause disease, thus providing validated targets for the
creation of innovative and more effective therapies and diagnostics. The Quebec
founder population is the largest such population worldwide, which facilitates
rapid patient recruiting. Because of the relatively late founding of the population
in the 17th century, the relatively small number of founders, rapid early population
growth, minimal intermarriage with other groups, and loss of some family lines
while others expanded dramatically, the population is among the most homogeneous
and has among the highest genetic sharing of all major founder populations.
For further information please visit www.galileogenomics.com.
About MM Venture Partners
MM Venture Partners is a privately held, venture-debt fund that focuses exclusively
on private technology companies in Canada, specifically Canadian information
technology and biotechnology companies. For further information please visit
For more information, please contact:
Galileo Genomics Inc.
Vice President and Chief Financial Officer
Tel: (514) 270-3991 ext. 230
MM Venture Partners