First Venture Technologies Corp. (TSX-V:FEB) reports that the Prince Edward Island Food Technology Centre (”FTC”) will be working with Canbiotech Consultants Inc. to develop process expertise for the purpose of determining commercial production protocols for First Venture’s proprietary yeasts. As part of its previously announced pre-feasibility study into the establishment of a commercial specialty yeast manufacturing facility, First Venture has engaged FTC to participate in research and process development that will be initially
funded through a National Research Council of Canada (”NRC”) contribution agreement.
The FTC, established in 1987, provides applied research and technical
services to the food processing industry worldwide in the areas of food
product and process development, microbiology and chemical laboratory
services, food quality and safety programs, and technology transfer.
FTC has a professional team that includes approximately thirty
scientists, technicians and support staff, and is located in a
scientific community that includes the NRC Institute of Nutrisciences
and Health, Canadian Food Inspection Agency Laboratory, Agriculture and
Agrifood Canada, and the University of Prince Edward Island.
First Venture is also pleased to announce that Gerri Greenham has
rejoined the company’s advisory board. Mr. Greenham was founder of
Aqua Health Inc., the world’s largest aquaculture health company. He
took this company from an early-stage Connaught Labs’ research and
development spin-off to global scale commercial production and
multi-million dollar sales. This work included setting up production,
marketing and distribution internationally in a highly regulated global
industry. The company, listed on the Toronto Stock Exchange as
Cobequid Life Sciences, was acquired by Swiss pharmaceutical Novartis
in 2000. Mr. Greenham is a recipient of a Canada Export Award from
International Trade Canada, which recognizes successful Canadian
individuals and companies that export and market their products and
services around the world. He also has extensive experience developing
business privately and publicly with the NRC and the province of Prince
Edward Island. Mr. Greenham is an early-stage investor in First
Venture.
“Mr. Greenham has successfully developed a world-class life sciences
company, first privately then as a publicly-listed company,
commercializing technology and creating tremendous shareholder value,”
commented Howard Louie, President and CEO of First Venture. “His
previous experience and success in many ways parallels the development
path of First Venture to date. As such, his participation on our
advisory board will be valuable as we continue to progress with the
production and commercialization of our proprietary yeasts and
technology.”
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