The new financing will further strengthen Noble's leadership position in developing technology to reduce infections, help hard-to-heal wounds and eliminate odors for soft textile applications."
Scranton, PA (PRWEB) February 10, 2012
Noble Biomaterials, Inc., a global leader in bacterial management solutions, recently announced it raised $8 million in Series B equity financing. The round was led by Northwater Capital’s Intellectual Property Fund with participation by existing investors TL Ventures and DuPont Capital Management. Proceeds from the financing will help drive the company's growth initiatives and build its intellectual property management expertise.
In 2011 Noble Biomaterials enjoyed 45 percent revenue growth and record profitability. According to Noble CEO Jeff Keane, "this new financing will help further accelerate our growth rate and enable us to aggressively develop our intellectual property portfolio, a key differentiator in our industry."
"We believe Intellectual property is the fundamental asset of innovation and entrepreneurship in the 21st century," said Frances Kordyback, principal at Northwater Intellectual Property Fund, based in Toronto. "As such, we fully support Noble Biomaterials' desire to enhance its growing portfolio of intellectual property, and see great potential in its proprietary technology and competitive business model."
Robert Keith, managing director at TL Ventures in Wayne, PA, stated that "the new financing will further strengthen Noble's leadership position in developing technology to reduce infections, help hard-to-heal wounds and eliminate odors for soft textile applications.”
About Noble Biomaterials
Headquartered in Scranton, PA, Noble Biomaterials develops, manufactures and markets advanced antimicrobial technologies designed to provide bacterial management, wound management and odor elimination solutions. Through the X-STATIC® system, Noble delivers premier odor elimination solutions to leading sports apparel companies and world class bacterial management systems to global healthcare brands. The Company has more than 200 global licensees for products in the medical, defense, industrial and consumer markets and has offices in Europe, Asia and South America.
Noble is a strategic partner of APIC, the leading professional association for infection preventionists and works closely with the infection prevention community toward the common goal of reducing healthcare associated infections. The company’s X-STATIC® antimicrobial technology provides a simple and cost-effective method for hospitals to deliver a proven bacterial management solution for soft surface textile materials. These surfaces include patient gowns, privacy curtains and bed linens and comprise 90 percent of the healthcare patient environment. For more information please visit http://www.noblebiomaterials.com.
About Northwater Intellectual Property Fund
Northwater Intellectual Property Fund is managed by Northwater Capital Management Inc., a leading, privately held, investment management company. With offices in Toronto and Chicago, Northwater focuses on investments in intellectual property and intellectual property-rich companies. Northwater provides financing, counsel and connectivity to its portfolio of intellectual property investments to speed their projects to market and to defend their protected space. For more information please visit http://www.northwatercapital.com.
About TL Ventures
TL Ventures is a leading national venture capital firm with offices in Pennsylvania and California. With over $1.5 billion under management, the company has invested in over 200 companies since it was founded in 1988. Its network of approximately 35 active portfolio companies, investment resources, professional contacts and service providers makes it one of the most active firms in the market. For more information please visit http://www.tlventures.com.
About DuPont Capital Management
DuPont Capital Management, based in Wilmington, DE, offers prudent, proven investment management services and global perspective to institutional investors. The company's mission is to provide professional investment management services to clients using systematic, value-based strategies designed to achieve superior investment performance consistent with the clients’ objectives. For more information please visit http://www.dupontcapitalmanagement.com.