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News Release
For immediate Release
August 21st, 2001, St. John’s Newfoundland - Another company
graduates from Memorial University’s Genesis Centre. Today
Biomedical Implant Technology (BIT™) Inc. became the fifth
graduate of the Genesis Centre.
Biomedical Implant Technology Inc. is an early-stage medical device
company dedicated to the development, manufacture and marketing
of dental implants and associated restoration of teeth.
Present to celebrate the company’s graduation were Dr. Axel
Meisen, President of Memorial University, Provincial Minister of
Industry Trade and Rural Development, the Honourable Beaton Tulk,
Ken Martin, director of business programs with the Atlantic Canada
Opportunities Agency (ACOA), John Underwood, President and CEO of
BioHex Corporation (via video-conference from Mahwah, New Jersey),
Dr. Darryl Fry, and Biomedical Implant Technologies founder, Dr.
Norman Kwan.
Dr. Axel Meisen said, “Biomedical Implant Technology Inc.
is a good example of how the resources available through Memorial
University can be utilized to assist in economic development in
this province. The Genesis Centre provided business expertise and
mentoring by Dr. Darryl Fry, - a world-class business leader. Memorial
University’s Telemedicine Centre also enabled the company to
demonstrate its technology to dentists across North America”.
“Companies such as Biomedical Implant Technology Inc. prove
that we have made a worthwhile investment in the Genesis Centre.
This organization gives young technology-minded companies the assistance
they need to advance to the next level of business operation,”
said Ken Martin, director of business programs with ACOA, on behalf
of the Honourable Brian Tobin, Minister of Industry, and the Honourable
Robert Thibault, Minister of State for ACOA.
The company came to Newfoundland in 1998, after a staff member
from Newfoundland encouraged Dr. Kwan to investigate incentives
available to companies that were willing to set up shop in Newfoundland
and Labrador. BIT was subsequently referred to the Genesis Centre
by the then Dept. of Industry, Trade & Technology and became
a Genesis Centre client in May of 1998. The company also received
support form ACOA.
Beaton Tulk, Minister of Industry, Trade and Rural Development
said, "The Genesis Centre's work with new technology-based
companies contributes significantly to our province's advanced technology
industry. It helps companies like Biomedical Implant Technology
compete and succeed in the global marketplace, which can ultimately
lead to the creation of new jobs in Newfoundland and Labrador."
Over the next 12 months, the Company intends to bring all manufacturing
in-house with the establishment of a world-class, dedicated manufacturing
facility in St. John’s Newfoundland. The space will include
a 15, 000 square foot state-of-the-art manufacturing facility with
a titanium machine shop, a plastic extrusion shop, a ceramic design
and milling shop and a clean room. The company also plans to set
up its online education program in St. John’s. It is anticipated
that a minimum of 20 high skilled jobs will be created in the St.
John’s operation over the next 5 years.
Dr. Norman Kwan, a practicing general dentist, based in St. Catharine’s,
Ontario, founded the company in 1993. The company has since developed
a novel dental implant system, known as the BioHex™ One Piece
– One Stage™ Implant System. Recent private investment
as well as consolidation of resources has seen the company change
names from Biomedical Implant Technology Inc. to its current operating
name of BioHex Corporation.
Dr. Kwan remarked, “Biomedical Implant Technology Inc. is
now in a position to become the leader in the dental implant market
in North America. The Genesis Centre was able to provide valuable
resources for our company at its most critical stage of development.
Government organizations such as ACOA, National Research Council,
the Department of Industry Trade and Rural Development, and TETRA
were also instrumental in making our project a success. Their continued
support is important as we move forward together to create a Centre
of Excellence for dental health in Newfoundland”.
During its tenure at the Genesis Centre Biomedical was paired with
Dr. Darryl Fry as a mentor. Dr. Fry has an honorary Doctor of Philosophy
degree from Memorial University as well as Bachelor of Science and
an Engineering Diploma. He later went on to Nova Scotia Tech to
complete a degree in Chemical Engineering. During his illustrious
career he was most recently the Chairman and CEO of Cytec Industries
Inc. Dr. Fry recruited a President and CEO for the company, acted
as a lead investor, and secured additional investors.
Dr. Fry said, "I like the Genesis Center concept. It provides
high tech entrepreneurs with valuable startup skills. Acceptance
by the center gives the entrepreneur that first major psychological
boost that is so often needed. It also provides local investors
with the opportunity to invest and participate in private ventures."
The Genesis Centre is a business support network that helps technology-based
businesses/ entrepreneurs create high-growth enterprises. GENESIS
Group Inc., formerly known as Seabright Corporation, is the commercialization
arm of Memorial University of Newfoundland.
Contact information:
Keelin O'Leary
Manager, Genesis Centre
(709) 737-2365
Keelin@mun.ca
Dr. Norman Kwan
BioHex Corporation
1-800-268-6684
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