Heartland Bridge Capital Takes Equity Stake in Biotech Firm HepatoChem
MAHWAH, N.J., Oct. 13, 2011 /PRNewswire/ -- Heartland Bridge Capital, Inc. (OTCBB:HLBC), a private equity firm focused on developing a portfolio of unique investments in emerging technologies, announced that it has made its initial funding of $100,000 in biotechnology company HepatoChem, Inc., pursuant to a definitive investment agreement to provide up to $400,000 of equity capital.
Headquartered in Cambridge, MA, HepatoChem is a privately held company that offers pharmaceutical and biotech companies a reliable and efficient means of accessing small molecule metabolites in quantities needed in the drug development process. HepatoChem's innovative technology uses biomimetic catalysts to mimic the metabolic function of the liver. This unique technology, developed in collaboration with Professor John Groves at Princeton University, enables the production of metabolites more quickly and with greater cost-effectiveness than any other technology currently available.
James F. Groelinger, the CEO of Heartland Bridge Capital, commented: "We are very excited to be an early investor supporting the commercial development of HepatoChem's extraordinarily innovative technology that should significantly advance the process of commercializing new drugs. This first step in our relationship with HepatoChem could result in additional investment opportunities in important pharmaceutical developments, and we look forward to seeing this relationship grow into a key element in our overall life sciences portfolio."
Marc Bazin, HepatoChem's founder and CEO, said: "We are pleased to be the beneficiary of this agreement with Heartland Bridge Capital. This first round of financing validates the HepatoChem technology platform, which is a crucial step in the drug development process. This initial investment into our Company should enable the commercialization of our metabolite production technology, and we see this as an important first step in deve