The OBIO® Investment Summit reaches new heights, drawing the attention of international capital to Canadian healthcare innovations

Toronto, ON – February 21, 2024 – The OBIO® Investment Summit brings together global investors with emerging Canadian life sciences and health tech companies, technology innovators and ecosystem partners. This year, the Summit was held from February 14-16 at our new home, the Schwartz Reisman Innovation Centre in downtown Toronto. The Summit showcased over 90 of Canada's most promising early-stage companies, top universities and research institutions, giving them the opportunity to convene with international investors, multinational pharmaceutical companies and medtech corporations.

In the words of Dr. Maura Campbell, President and CEO of OBIO®, “The Summit enables Pre-Seed, Seed and Series A life science companies to share their innovative technologies with international investors, highlighting the strength of our industry and investment opportunities across Canada. We are proud of our efforts to support companies in securing investment to develop and commercialize their leading-edge technologies domestically, and we will continue to amplify the success of the Canadian ecosystem through our Summit."

The OBIO® Investment Summit is a catalyst that keeps attracting investors and investment to Ontario and to Canada. Companies that have presented at the Summit have raised over CAD $1.6 billion since 2018. Dr. Campbell continued, "Every year, we build on our past success. The 2024 Summit featured an expanded Business Development Forum, connecting international medtech and pharmaceutical companies with early-stage Canadian companies to explore research collaborations and licensing opportunities for their technologies."

OBIO® is supported by a Government of Canada investment of $10 million, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), to help scale up healthcare innovation and create inclusive economic growth in southern Ontario. To date this investment has led to the creation/maintenance of 270 jobs, 159 new intellectual properties have been created or licensed, and over 625 people have received training or mentorship.

“The OBIO® Investment Summit is an important networking opportunity for our healthcare institutions, investors and health science companies to connect and share ideas,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “Supporting organizations, like OBIO®, that encourage the participation of women in leadership roles in the health sector is critical for the long-term success of our healthcare system. This work is instrumental in ensuring better health care for Canadians now, and into the future.”

The Government of Ontario is also supporting OBIO® with up to $9.7 million to help Ontario companies in the life sciences sector to adopt, develop and bring to market critical technologies, such as 5G and advanced networks, ethical artificial intelligence, blockchain, cybersecurity, quantum and robotics.

“Ontario is home to the largest life sciences sector in Canada, with 1,900 firms employing over 70,000 highly-skilled professionals,” said the Honourable Victor Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade. “Through the Investment Summit, OBIO® is driving innovation in our life sciences ecosystem and supporting innovators as they develop and commercialize their cutting-edge technologies.”

"The early-stage life sciences companies at the 2024 OBIO® Investment Summit highlighted the vibrant nature and talent present in the Canadian community. With representation across the broader Bayer Radiology and Pharmaceuticals business, the Bayer team was able to connect with current partners, identify new opportunities and also network with a number of public entities,” said Jerry Orban, Country Head, Bayer Radiology Canada. “We could feel the collaboration emanating from the walls of the Schwartz Reisman Innovation Centre. The forum was exceptional with many companies aligned with our strategic offerings and several that brought what we consider to be industry-changing technology. What we have in the Canadian life sciences market is a true gem built on incredible talent, science, public funding and private partnerships, and Bayer is proud to be part of that ecosystem. We look forward to attending again in 2025. Thank you to the entire OBIO® team.”

“OBIO® is an important advocate for the Ontario healthcare technology sector and has been a true friend to AmacaThera since our spinout from the University of Toronto in 2016,” said Mike Foorer, VP Business Development & General Manager, AmacaThera. “AmacaThera has been fortunate to present at the Summit during our initial growth phase and are thrilled to see the next wave of startups doing the same.”

OBIO® will continue to collaborate with its partners, including incubators and accelerators, to foster investment in Canada. The life sciences sector and the OBIO® Investment Summit can only succeed with the backing of a robust, supportive ecosystem with a shared vision of the future.

About OBIO®

Founded in 2009, OBIO® is a not-for-profit, membership-based organization engaged in strategy, programming, policy development and advocacy to further the commercialization of human health technologies positioning Canada as a leader in the international marketplace. OBIO® advances this goal through collaborative partnerships with industry, the investment community, academia, the health system and government.

For more information, please visit www.obio.ca and follow OBIO® on LinkedIn and X (formerly Twitter).

About FedDev Ontario

For 14 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.

Media contacts:

Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
edward.hutchinson@feddevontario.gc.ca

Doriane Rey
Manager, Marketing & Events
OBIO®
dorianerey@obio.ca