Phoenix Business Journal

May 21, 2015, 11:21am MST

Scottsdale-based Lattice Biologics Inc. just got $1 million from Grenville Strategic Royalty Corp. (TSX VENTURE: GRC).

This brings Grenville’s total Lattice investment to $3 million, said Guy Cook, CEO of Lattice Biologics, which focuses on cellular therapies and tissue engineering. The Toronto-based firm had invested $2 million in Lattice last September. In exchange for this investment, Grenville will receive a royalty based on Lattice’s gross revenue, somewhere between Grenville’s average royalty rate of between 1 percent and 4 percent.

In September 2013, Cook acquired the assets of International Biologics and renamed the company Lattice Biologics.

“We’re more on the stem cell side of things and they were more on the tissue banking side of the business,” he said of International Biologics. “It’s an exciting area of research.”

With this latest investment, Lattice now has a total of $8 million invested in the company, including $2 million of Cook’s own money.

He had formed Bacterin in Montana in 1998, grew the tissue engineering firm to 200 employees with customers in 40 countries, and later took it public. He retired in early 2013, but quickly found that retirement was boring.

“I tried golfing for awhile but that didn’t work,” he said.

Now he’s on to what he calls the 2.0 version of Bacterin, with a plan to eventually take Lattice Biologics public as well.

“This is much more science based,” he said.

Angela Gonzales

Senior Reporter (Health care, biotech, education)

Phoenix Business Journal

@PhxBizAGonzales

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Media Contact: Melanie Battista, Public Relations, Lattice Biologics Inc., 16701 N 90th Street, Suite #101, Scottsdale, AZ 85260, 480-563-0800 Office, News@LatticeBiologics.com | www.LatticeBiologics.com

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