About The Company
Innovative BioTherapies, Inc. (IBT), is a for profit company founded in 2003, by Dr. H. David Humes, Professor of Medicine at the University of Michigan, to facilitate the commercialization of technology developed in his academic laboratory. IBT’s research and development program is primarily supported by a number of federal grants and contracts, which focus on developing bioartificial organ based devices utilizing adult progenitor cells, biomaterials and MEMs technology.
IBT acquired laboratory space in 2005, with an initial staff of three employees. Currently, IBT has 27 employees, with the intent to hire 2 additional staff prior to January 2011. The Biomedical Engineering Division has grown from one to six employees in the last five years. In order to further advance the pre-clinical studies of its bioengineered devices toward inclusion in IND submissions to the FDA, IBT recruited a board certified veterinary surgeon in 2009 to establish a Veterinary Medicine Division.