MISSISSAUGA, ON and TORONTO, ON, Sept. 27, 2012 /CNW/ - Wellington
Financial LP, a privately-held specialty finance firm, today announced
that Wellington Financial provided a $4.5 million venture debt
financing for Insception Biosciences Inc. Insception Biosciences Inc.
is a stem cell services company providing umbilical cord blood
collection, processing, cryo-preservation storage and stem cell
"Insception is Canada's largest and most experienced cord blood program.
With over 39,000 samples banked, Insception Biosciences is able to
provide every Canadian family with the ability to collect and store
valuable cord blood," said Mark McQueen, CEO and President of
Wellington Financial LP. "Stem cells from cord blood are used in the
treatment of many diseases and are showing promise in the development
of regenerative medicine therapies."
Richard Lockie, CEO of Insception Biosciences Inc said, "With Wellington
Financial's growth capital, we will continue to make our service easily
available to all Canadians and develop technologies that will improve
the utility of cord blood stem cells. We are pleased to have a premier
North American debt firm supporting Insception Biosciences' acquisition
and growth opportunities."
Chaitons LLP and Osler, Hoskin & Harcourt LLP provided legal advice on
Wellington Financial recently announced the $177.5 million first closing
of Wellington Financial Fund IV. Representative Fund III portfolio
companies include Belair Networks of Ottawa (acquired by Ericsson in
2012), Clairmail of San Rafael (acquired by Monitise Plc for US$173
million in 2012), Ember of Boston (acquired by Silicon Labs in 2012),
MTI of Mississauga (acquired by 3M in 2010), OZ Communications of
Montreal (acquired by Nokia in 2008), Pivot Networks of Jersey City
(acquired by the CME in 2012), Real Matters of Markham and
VisionCritical of Vancouver.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm
providing term, venture and amortizing loans up to $30 million.
Wellington Financial LP is currently managing a $500 million investment
program with offices in Toronto, Canada, and Santa Monica, California.
Wellington Financial LP is managed by a partnership controlled by fund
management and Clairvest Group Inc. (CVG:TSX), who jointly have
contributed a large financial stake to the Fund. LPs include several of
Canada's largest institutional investors, pension funds, family offices
and crown corporations. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
About Insception Biosciences Inc.
Insception is the largest cord blood program in Canada with over 39,000
cord blood units banked. Insception is owned by Argosy Partners, Mount
Sinai Hospital, management and its scientific founders. By partnering
with leading Canadian medical facilities such as Toronto's Mount Sinai
and the Scarborough Hospitals, Insception continues to work closely
with Canada's leading healthcare providers. The Insception Cord Blood
Program is able to provide every Canadian family with security, state
of the art processing and storage, financial stability and long term
professional governance. For more information please visit www.Insception.com
SOURCE: Wellington Financial LP
For further information:
Wellington Financial LP
Tel: (416) 682-6007, firstname.lastname@example.org