Avrio Ventures, a Canada-based venture capital firm formed in 2006 by local companies Farm Credit Canada and Kirchner Investment Management, has invested C$2m ($2m) in Biopharmacopae Design International, a drug developer based on using plant-derived ingredients.
Avrio previously provided an undisclosed amount to Biopharmacopae’s series A round in December 2008.
The money will help commercialise Biopharmacopae’s Ridovir Cold product.
Aki Georgacacos, a partner at Avrio, said: "Biopharmacopae holds a portfolio of extremely promising products with significant market potential and their recent studies on the antiviral activity of their cough and cold natural health product, Ridovir Cold, are very encouraging.
"In addition, with the company’s expertise and recent discovery, Biopharmacopae is well-positioned within the industry to become a strategic partner for companies looking for innovative products with great market potential."
Biopharmacopae has collected more than 15,000 plant extracts and its eXcelerate platforms allows them to be screened for beneficial effects on human health.