Virica Biotech Graduates from Invest Ottawa Accelerator Program

Invest Ottawa (IO) recently announced its next graduate from the IO Accelerator program, Virica Biotech. The program is designed to use a phased and milestone-based approach to help entrepreneurs grow and scale on their Venture Path. Virica Biotech, a leading innovator in viral enhancement solutions for the biopharmaceutical industry, is the 11th successful graduate from the flagship program.

Virica Biotech is an OBIO® member, an alumnus of our BDSP™ and WiHI programs, and presented at the OBIO® Investment Summit.

Roga Secures $1.7 Million CAD to Reduce Stress and Burnout with its Nerve-Stimulating Website

Toronto and Los Angeles, California-based neurotech start-up, Roga, has set its sights on reducing intense stress and burnout in a convenient, cost-effective, and discreet way.

The mental healthcare-focused company has secured $1.7 million CAD ($1.2 million USD) in pre-seed funding and support from a slew of health tech investors to fuel the launch of its next-generation wearable device, which it plans to roll out this fall.

Roga has presented at the OBIO® Investment Summit.

Noa Therapeutics Receives the Women Entrepreneur Grant at CanWIN 2024

Noa Therapeutics, a preclinical Canadian biotech company aiming to defy the convention of traditional drug development to revolutionize treatment options for those living with complex inflammatory skin diseases, has received the Women Entrepreneur $5,000 grant at the CanWIN 2024 Bridge to Asia Pitch competition.

Noa Therapeutics is an OBIO® member, alumnus of our BDSP™, H2BB™ and WiHI programs, and presented at the OBIO® Investment Summit.

Vasomune Therapeutics Receives U.S. FDA Fast Track Designation for AV-001

Vasomune Therapeutics, Inc., recently announced that the U.S. Food and Drug Administration (FDA) granted Fast Track designation for AV-001 for the prevention or treatment of moderate-to-severe ARDS in patients hospitalized with viral and/or bacterial respiratory infections. AV-001 is a first-in-class fully synthetic PEGylated peptide targeting the Tie2 receptor which plays a critical role in vascular stability, barrier integrity and endothelial quiescence, particularly within the pulmonary space.

Vasomune Therapeutics is an OBIO® member, an alumnus of our CAAP® program, and presented at the OBIO® Investment Summit.

Oncoustics Awarded INOVAIT Focus Fund to Accelerate AI-Driven Liver Diagnostics at Point of Care

Oncoustics, a Toronto-based medtech startup that develops advanced AI solutions for low-cost, non-invasive surveillance, diagnostics, and treatment monitoring of diseases with high unmet clinical need, has been awarded the INOVAIT Focus Fund to advance its suite of AI-driven tissue characterization solutions. The resulting products may significantly improve patient outcomes and reduce the overall cost of healthcare by providing easier access to screening, diagnostics and monitoring for earlier interventions, as well as improved treatments for all patients with or at risk of asymptomatic structural liver disease.  

Oncoustics is an OBIO® member, alumnus of our BDSP™, CAAP® and EAHN™ programs, and presented at the OBIO® Investment Summit.

Microbix Opens Capacity Expansions

Microbix Biosystems Inc. a life sciences innovator, manufacturer, and exporter, hosted Minister Nina Tangri, Associate Minister of Small Business of Ontario, to celebrate the opening of two expansions to its medical devices manufacturing capacity at one of its three adjacent Mississauga sites.

The Lab was entirely constructed from Ontario-made modular and prefab components. This innovative construction is more cost-effective than conventional framing and enables reconfiguration or relocation. Across its three sites, Microbix now has access to 11 distinct lab areas totaling 17,000 square feet, comprising 50% of its overall space.

Microbix is an OBIO® member and alumnus of our BDSP™ program.

SPEC Labs Secures Lease to Establish State-of-the-Art Wet Lab Facility in Mississauga

SPEC Labs Centre for Advancement of Biomedical Innovation, a leading innovator in scientific research and development, announced that it has secured a lease agreement to construct and operate a shared, multi-tenant wet lab facility in Mississauga, Ontario. This facility marks a significant milestone in advancing collaborative research and fostering innovation within the Ontario scientific community. Mary Argent-Katwala, Senior Director, Stakeholder Engagement at OBIO® attended the announcement event.

The Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), is investing $5 million in SPEC Labs to support the not-for-profit corporation’s efforts in creating this new wet lab facility.

Dr. Maura Campbell, CEO and President of OBIO® is on the SPEC Labs Board of Directors and is quoted in this article published in Financial Post.

Acorn Biolabs Secures $11 Million Series A to Boost Access to Regenerative Medicine via Cell Preservation

Toronto-based biotechnology start-up, Acorn Biolabs, which helps customers freeze their stem cells in preparation for cell-based regenerative medicine treatments, has announced approximately $11 million CAD ($8 million USD) in Series A funding across multiple closings. Acorn plans to use this capital to expand its commercial footprint and develop cosmetic offerings.

Acorn Labs is an OBIO® member, alumnus of our BDSP™, CAAP®, H2BB™ and WiHI programs, and presented at the OBIO® Investment Summit.

A.I. Vali Recognized Among Top 10 Healthcare Solutions Providers

A.I.Vali has been recognized among the Top 10 AI Healthcare Solutions Providers A.I. VALI uses proprietary Machine Learning (ML) and Deep Learning (DL) techniques to analyze the data collected from medical images, such as endoscopy video images and tissue biopsies. Their flagship product, AIDREATM (Artificial Intelligence Device for Real-time Endoscopy Analysis) platform, is an innovative, easy plug and play set up, modular AI platform offers clients precise, consistent, and cost-effective solutions for real-time video image analysis, annotation and report creation and upload, starting with endoscopy.

A.I.Vali is an OBIO® member, alumnus of our BDSP™, EAHN™, HealthMINT™ and WiHI programs, and presented at the OBIO® Investment Summit.

Genesys Wins the ‘Deal of the Year’ Award at 2024 CVCA Awards

Genesys Capital won the CVCA 2024 ‘Deal of the Year’ award for their investment in Montreal, Quebec-headquartered Inversago Pharma. Genesys led Inversago’s $7-million Series A round in 2018 which led to a $1.4 billion CAD acquisition by Novo Nordisk in August 2023.

Mesosil Secures $2.2 Million to Develop Infection-Fighting Biomaterials for Medical Devices

Toronto-based nanotechnology start-up, Mesosil, has closed $2.2 million CAD in Seed funding to ramp up its production and fuel its commercialization plans. Spun out of the University of Toronto, Mesosil is developing nanometre-scale, silica-based additives designed to prevent infection and disease at the tissue-biomaterial level and extend the lifespan of dental and medical devices like fillers and implants.

Mesosil is an OBIO® member and an alumnus of our BDSP™ and WiHI programs.

Sanofi Opens Advanced Vaccines Facility in Toronto

Sanofi, a global healthcare company, announced the opening of a new state-of-the-art pediatric and adult vaccine manufacturing facility at its Toronto Campus. Building upon its 110-year heritage, as the largest vaccine manufacturing site in Canada, Sanofi's expansion demonstrates the company's commitment to innovation and leadership in global public health. The new facility significantly increases capacity to meet growing Canadian and Global demand for pediatric and adult vaccines for pertussis (whooping cough), diphtheria and tetanus. These vaccines will be exported to 60 markets globally, protecting lives in Canada and around the world.

Satellos Bioscience opens the market

Satellos, a regenerative medicine company dedicated to developing novel therapeutics that stimulate or restore muscle regeneration in severe disorders, went public on the TSX. Frank Gleeson, Co-Founder and Chief Executive Officer, Satellos Bioscience, and his team joined Dani Lipkin, Managing Director, Global Innovation Sector, Toronto Stock Exchange (TSX), to open the market.

Satellos is an alumnus of the CAAP® program and presented at the OBIO® Investment Summit.

KA Imaging’s Reveal Mobi Pro receives Canadian Medical Device Licence from Health Canada

A Canadian Medical Device Licence was issued by Health Canada for Reveal Mobi Pro, KA Imaging Premium Dual-Energy Mobile System. This product is a collaboration with Del Medical, Inc.

The Reveal Mobi Pro integrates KA Imaging’s Reveal™ 35C detector with SpectralDR® technology into a complete mobile X-ray solution. Reveal’s ability to simultaneously acquire conventional and dual-energy images with a single exposure at the bedside improves hospital and patient outcomes, and protects revenue by reducing outflows.

KA Imaging is an OBIO® member, an alumnus of our BDSP™, CAAP®, EAHN™, HealthMINT™ and H2BB™ programs, and presented at the OBIO® Investment Summit.

Gotcare and Swift Medical among the selected healthtech start-ups to receive funding from DIGITAL

Canada’s Global Innovation Cluster for digital technologies (DIGITAL) is investing $10.5 million across four projects from Canadian start-ups working on integrating artificial intelligence (AI) into healthcare. 

 DIGITAL contributed $1.5 million to Toronto’s Gotcare, which connects patients with in-home and virtual care based on proximity, specialization, language, and cultural understanding. DIGITAL’s largest contribution is going to Swift Medical’s $9-million wound treatment project, half of which is supported by the innovation cluster’s funding. The Toronto-based firm is looking to drive the adoption, evaluation, and commercialization of its AI-powered wound assessment, decision support, and predictive care technologies.

Congratulations to all the recipients!

Gotcare is an alumnus of the EAHN™ program and presented at the OBIO®  Investment Summit. Swift Medical is an OBIO® member and an alumnus of the BDSP™, CAAP®, EAHN™, and WiHI programs.

AmacaThera doses first in-human study to evaluate AMT-143 for non-opioid treatment of post-operative pain

AmacaThera Inc, a clinical stage biotechnology company specializing in the development of advanced sustained release hydrogel formulations, has dosed its first human subject with AMT-143, the company’s lead asset in non-opioid acute pain management. AMT-143 is a local slow-release non-opioid local anesthetic that would leverage the AmacaGel platform to provide long-acting post-operative pain relief and is the first therapeutic product formulated to be delivered via AmacaGel, AmacaThera’s patented technology platform.

AmacaThera is an OBIO® member, an alumnus of all OBIO® programs, and presented at the OBIO® Investment Summit.

Retispec announces collaboration and investment from Topcon Healthcare to help bring eye-based AI diagnostic tool to market

RetiSpec, Inc., an innovator in AI-powered eye diagnostics for brain health, and Topcon Healthcare, Inc. a leading provider of medical devices and software solutions recently announced that Topcon has invested in RetiSpec and the two companies are collaborating to bring the RetiSpec technology to market. The collaboration will bring neurology and eye care closer together.

The collaboration between Topcon Healthcare, Inc. and RetiSpec will accelerate the commercialization and scale of RetiSpec's first brain health indication in Alzheimer's disease. It will also help expedite development of additional AI-powered diagnostic solutions from the eye for early detection and monitoring of neurodegenerative diseases and side effects of the new therapies for Alzheimer's disease.

Retispec is an OBIO® member, an alumnus of the BDSP™, CAAP®, H2BB™, HealthMINT™ and WiHI programs, and presented at the OBIO® Investment Summit.

KEEP wins ‘Home Healthcare Innovation Award’ in 2024 MedTech Breakthrough Awards

KEEP has received the "Home Healthcare Innovation Award" at the 8th Annual MedTech Breakthrough Awards, an independent market intelligence organization that recognizes the top companies, technologies, and products in the global health and medical technology market. This award underscores KEEP’s effective approach to enhancing the management of specialty medications in the home through advanced technology.

KEEP is an alumnus of our CAAP® program and presented at the OBIO® Investment Summit.

Enhanced Medical Nutrition's new project to bring protein products with special nutritional requirements

Enhanced Medical Nutrition’s has secured strategic funding to bring new protein products for Canadians with special nutritional requirements. Through Protein Industries Canada project, Enhanced Medical Nutrition, Acenzia, and Gruppo Nutrition will bring a wide-range of new protein-rich products to the market and help Canadians tackle health challenges. Protein Industries Canada is one of Canada’s five Global Innovation Clusters.

Enhanced Medical Nutrition is an OBIO® member, an alumnus of all our programs, and presented at the OBIO® Investment Summit.

Atorvia named inaugural recipient of U of T Mississauga’s Blue Ticket program

Atorvia, Ottawa-based company developing novel treatments that target the molecular causes underlying kidney damage, was named the inaugural winner of the Blue Ticket competition at the University of Toronto Mississauga’s SpinUp wet lab incubator. Sponsored by pharmaceutical company Merck, the Blue Ticket program aims to empower the next generation of global health innovators. Atorvia will receive a free one-year membership to SpinUp, an up-front cash prize and mentorship from scientific, and business leaders at Merck.

Atorvia is an alumnus of our HealthMINT™ and WiHI Seed programs, and presented at the OBIO® Investment Summit.