Innovacorp’s announcement Wednesday that it will boost its funding for Halifax biotech DeNovaMed to $500,000 is further evidence that 2012 will be a strong year for venture capital funding in Nova Scotia.
The provincial innovation agency said in a press release that it would invest $500,000 in the company, which is developing compounds that can battle “superbugs”. That total includes the $120,000 the company received as the winner of the I-3 innovation contest in January. The funding will give DeNovaMed enough money to last about a year.
"We're very excited to be working with a team