Israeli duo’s early Alzheimer’s detection test brings cure one step closer

Toronto-based biomedical engineers Eliav Shaked and Roy Kirshon are working on a quick, non-invasive retinal diagnostic for patients decades away from showing symptoms of dementia. As business partners in an artificial intelligence medical imaging start-up called RetiSpec, they’ve developed a new way for early detection of Alzheimer’s disease, the main cause of dementia among older adults.

In 2019, the Ontario Bioscience Innovation Organization chose RetiSpec as one of several high-potential health science companies for its Capital Access Advisory Program.

OBIO Shares Results of Pilot Launch of New Technologies That Help Manage Covid-19

Innovative Canadian medtech projects enabled through Early Adopter Health Network

June 1, 2021 – TORONTO, ON – While the race to eradicate Covid-19 continues, the Ontario Bioscience Innovation Organization (OBIO®), a not-for-profit organization dedicated to advancing health technology innovation and commercialization in Ontario, is sharing results of the pilot launch of its Early Adopter Health Network (EAHN) introduced last year. Four projects with novel technologies were adapted to address challenges with Covid-19, ranging from healthcare operations to disease/patient management to improvements in diagnosis or treatment.

“The goal for the EAHN is to become early adopters of homegrown medical technology and help streamline the procurement process to help busy hospitals and health care providers deliver improved patient care,” says Gail Garland, President and CEO of OBIO. “The companies in our program were able to pivot their technologies in real-time to help address some of the challenges presented by the COVID-19 pandemic and more efficiently pair them with clinical end users.”

The four projects enabled through the EAHN include:

KA Imaging

KA Imaging’s Reveal 35C is the world’s first x-ray detector that provides three different images (a standard digital radiograph, as well as bone and soft tissue images) and can be used bedside to better visualize the lungs, particularly among COVID-19 patients. The improved diagnostic imaging can be a game changer in the ICU to assess whether patients with pneumonia need a ventilator, or how the disease evolves, and can be easily deployed to a community hospital or in-clinic.

“With the support of the EAHN, we were able to test Reveal in a clinical setting, enabling the radiologist to diagnose pneumonia with more confidence,” says Amol Karnick, President and CEO of KA Imaging. “The same facility has already received two extra systems to increase imaging capacity, proving that early adopters are critical to how quickly new technologies are implemented.” 

Synaptive Medical

Patients with COVID-19 may have neurological and cardiopulmonary issues requiring repeated MRI and CT scans. Given the virus’ half-life of 72 hours on plastic or metal, the surfaces of these machines can become contaminated, exposing health care workers and other patients to infection. Synaptive, with its partners, have designed a single-use drape that can be safely disposed of after each scan, an innovation that can prevent potential COVID-19 contamination and protect against other air-borne viruses.

“OBIO’s program provides us with an opportunity to design, test and validate our MRI drape solution in a real-world clinical scenario, with the collaboration of our partners at UHN,” says Cameron Piron, President of Synaptive Medical. “The ability to work with Ontario’s leading health organizations through the EAHN provides companies like Synaptive Medical with a base of Canadian customers and experiences that strengthen our global value proposition.”

Flosonics Medical

FloPatch, the world's first wireless, wearable Doppler blood flow device, helps medical personnel assess and monitor blood flow for critically ill patients by sending data remotely to mobile devices using low energy Bluetooth, which is critical in a pandemic context. The low-cost, ultrasound sensor adheres to a patient’s neck, providing hands-free blood flow assessments and important clinical insight for patients in the emergency department, operating room, general medical floor and intensive care units.

“Through the Early Adopter Health Network, with support from Health Science North Research Institute, we were able to test FloPatch and advance the technology to market by facilitating engagement with hospitals here in Ontario.” said Andrew Eibl, COO of Flosonics Medical.

Ironstone Product Development

Ironstone’s Revoxa™ system increases the efficiency of oxygen delivery to COVID patients nearly tenfold, meaning an oxygen tank that would typically last less than a day could last more than a week. If deployed, the technology could make an incredible difference in places such as India, where access to oxygen is currently rationed on a triage basis.

“The support from OBIO’s program was invaluable in advancing this technology to clinical use,” says Joel Ironstone, President of Ironstone Product Development. “The funding helped us conduct a trial to demonstrate the technology’s ability to drastically reduce oxygen consumption while delivering the same or potentially improved support to hypoxic patients, allowing us to contribute positively to the pandemic effort.”

OBIO has undertaken years of consultation with industry and the health system to develop EAHN. Health science companies and health care organizations who want to be a part of EAHN should send proposals or requests for more information to OBIO at info@obio.ca.

About OBIO

OBIO®, founded in 2009, is a not-for-profit, membership-based innovation 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, contact:

Elizabeth Glassen, Account Executive
BlueSky Communications
eglassen@blueskycommunications.com | 647-309-0141

Ontario Bioscience Innovation Organization Secures Funding for Business Development Skills Program to Support Canadian Health Science Companies

May 25, 2021 – TORONTO, ON – The COVID-19 pandemic has spotlighted the need for innovative training solutions to meet the increased demand for highly-skilled business development professionals in the health science industry. Today, Ontario Bioscience Innovation Organization (OBIO) is pleased to announce the launch of its Business Development Skills Program, with a $5.25 million investment from the Ministry of Labour and the Skills Development Fund, to address these workforce challenges and help access funding that accelerates the growth of health sciences companies in the province.

“Successful fundraising is critical for health science companies to grow their business and create – and keep – new jobs in Ontario,” says Gail Garland, CEO, OBIO. “As these companies raise investment capital, they move further along the intellectual property commercialization pathway, with the ability to expand operations and add skilled employees that can help them reach their next growth target.”

According to a survey conducted last year by OBIO of more than 250 employers in Ontario’s health science industry, 83 per cent of industry leaders say access to financing should be a priority focus to speed up opportunities for health science companies to succeed. Yet finding highly-qualified business development professionals that have the necessary specialized skills to drive successful funding is a major challenge, with half (54 per cent) of industry leaders and supervisors saying they frequently face difficulties when hiring people into these roles. This skills gap will continue to jeopardize the pace of growth of health science companies during – and after – the pandemic.

“The challenges of the last year have shown us how important it is to keep our homegrown health science talent here,” says Monte McNaughton, Minister of Labour, Training and Skills Development. “OBIO’s program will move us one step closer to that goal, so that innovative companies with fresh ideas will know it’s possible to grow and thrive in our province. This sector is full of potential, and with this specialized training and mentorship, I believe we have what it takes to be a leader.”

In fact, a recent Nanos poll conducted on behalf of OBIO revealed that the majority (87 per cent) of Canadians support government spending for medical innovation and manufacturing in Canada, while 74 per cent feel it is important that healthcare providers in Canada use medical innovations developed here in Canada.

"Companies that take advantage of OBIO’s Business Development Skills program will have the opportunity to commercialize their technology right here, in Ontario,” says Maura Campbell, VP Intellectual Property & Contracts, Turnstone Biologics. "The program will ensure they have access to the talent, skills and support they need to fulfill this objective."

OBIO’s Business Development Skills Program is currently accepting applications and the program will run from June 2021 to March 2022. To apply, visit www.obio.ca/bdsp.

Programs Target Canada’s Chronic Biotech Talent Shortage by Training Academics to Run Businesses

OBIO’s Workforce Development programming was included in a recent article in the Globe & Mail that highlights efforts to close the talent gap in the country’s burgeoning health sciences sector.

Nanos: How Canadians are Responding to Vaccines | CTV News

OBIO recently commissioned Nanos Research to gauge public opinion on Canada’s readiness to deal with future pandemics and how the health science industry and governments can improve national preparedness. Watch what Nick Nanos, founder and Chief Data Scientist at Nanos Research, had to say about Canadian opinion on different levels of government joining together to encourage medical innovation, the importance of Canada manufacturing its own Covid-19 vaccines and how Canadians are feeling about Canada’s readiness to handle a future health crisis.

OBIO Announces Launch of OBIO CAAP® for 2021

The Ontario Bioscience Innovation Organization (OBIO®) is proud to announce its 2021 Capital Access Advisory Program (CAAP®) and the high-potential health science companies in this year’s cohort.

Now in its ninth year, OBIO CAAP companies will work with OBIO and a vast network of expert advisors over the next year to achieve key goals and objectives that will position them for successful financing.  OBIO CAAP operates downstream from existing entrepreneurship programs and focuses on accelerating technology commercialization, post-seed financing and strategic partnerships. OBIO CAAP creates high-value deal flow for both companies and investors, culminating with a presentation at the OBIO Investment Summit at which presenting companies have raised over $700M since 2018.

Spartan Bioscience files for creditor protection after identifying 'issue' with COVID-19 test

The Ottawa-based company that developed a rapid COVID-19 testing device says it has filed for creditor protection after finding an undisclosed problem with the technology. Spartan Bioscience's interim CEO Jennifer Ross-Carriere said through a spokesperson Tuesday that the company has paused shipments of its COVID-19 testing cube while it works to resolve the "recently-identified issue."

OBIO’s Women in the Business of Health Science Bootcamp Participants are Ready to Enter the Health Science Industry

Is your company getting ready to scale in the post-pandemic economy?

OBIO has 15 highly skilled, STEM graduate women, who are ready to enter the health science industry after participating in OBIO’s Women in the Business of Health Science Bootcamp.

The Bootcamp taught unemployed women with STEM backgrounds how to leverage their existing skill sets to secure business roles in the health science industry.

Industry experts provided a wholistic view on how different business units fit together within a health science company. Topics that were discussed throughout the week included:

• Innovation and Commercialization

• Corporate Development, Strategic Business Development & Finance

• Intellectual Property in Business Development

• Marketing & Sales

• Quality Assurance, Clinical & Regulatory

• Project Management

Participants also attended a Professional Development Workshop where seasoned professionals in change management and HR shared advice on how to position skills and experience in the job market, resume writing, as well as interview and networking skills.

Overall, the Women in the Business of Health Science Bootcamp was a huge success. Participants found it to be insightful, motivating and eye opening. The bootcamp provided a fresh outlook on the possibilities that lie before them and left participants hopeful and excited for their future in the health science industry.

STEM Professionals Available Now

If you are looking for jobseekers with strong technical skills within STEM who have a well-rounded understanding of business, we can connect you with candidates that would be valuable additions to your business.

If you are an OBIO member, you have access to OBIO’s new Job Board and to the profiles of the business trained bootcamp participants as well as a rich talent pool of jobseekers via OBIO’s Job Board and Talent Network.

To get your company’s profile up on the OBIO Job Board or regarding your talent needs please contact  andreeanorman@obio.ca.

Find your next hire faster with the new OBIO Job Board and Talent Network

The new OBIO Job Board and Talent Network will find the right candidate for your health science company and speed up your hiring process. The OBIO Job Board provides access to an automated career page and talent network, designed to allow companies to easily post jobs and connect with, review, and manage talent all in one place. The OBIO Job Board is an exclusive benefit to OBIO Members.

This customized recruiting tool streamlines the hiring process through:

• Increasing visibility of your job postings,

• Providing access to a growing and qualified talent database, and

• Saving time with robust search and filtering capabilities that help assess and contact talent profiles who meet hiring needs.

The OBIO Job Board takes out the work of posting jobs because it automatically syncs with a company’s career page. The platform allows for the creation of a company profile managed by the company. For early-stage companies who may not have a career page, a company profile can be created where companies can post their roles and have access to their very own applicant tracking system through the OBIO Job Board.

All Ontario-based roles advertised on the OBIO Job Board are eligible for the H2BB training program.

The H2BB program offers:

• Comprehensive science-oriented training programs to new employees to accelerate their onboarding and contribution in their respective roles.

• Access to one-on-one mentoring with a subject matter expert advisor (industry professionals with typically 20+ years of experience) who will provide coaching and mentorship on professional development to the new hire over their first few months in their new role.

As a government funded program, H2BB is at no cost to eligible companies and organizations to participate.

OBIO Investment Summit Showcases Canada’s Booming Health Science Industry on the World Stage

OBIO® (Ontario Bioscience Innovation Organization) is proud to announce the success of the 2021 OBIO Investment Summit, February 9-10, 2021, which showcased the strength and opportunity in Canada’s health science industry.

The OBIO Investment Summit featured over 50 of Canada’s most promising innovative health science companies and more than 80 US and global venture capitalists and strategic investors who engaged through company presentations, 1:1 meetings, panel discussions and keynote presentations.

Since 2018, Canadian companies that have presented at the OBIO Investment Summit have raised more than $515M.

“The 2021 OBIO Investment Summit was a tremendous stage to demonstrate the depth of Canada’s health science industry,” said Gail Garland, President and CEO of OBIO. “The innovative Canadian health science companies that showcased their leading-edge technologies connected with global investors to do the deals that will create Canadian health science anchor companies and the integrated health science economy that Canada deserves.”

“As a healthcare start-up, opportunities to connect with global investors are essential. The 2021 OBIO Investment Summit organizers have done an outstanding job fostering these connections from their thoughtful pre-conference support to the ease of communication via the OBIO virtual platform,” said Wendy Naimark, PhD, CTO Ripple Therapeutics. “We look forward to continuing the conversations that began at the Summit.”

As part of the 2021 OBIO Investment Summit, the Early Technology Showcase featured the most promising science Canada’s leading research institutions and health organizations have to offer, including exciting early spin-out companies.

“For health care and research institutions like UHN, the Early Technology Showcase at the OBIO Investment Summit is an invaluable opportunity to get exposed to the kinds of strategic investors and VCs that will help these companies flourish as they commercialize their technologies,” said Mark Taylor, Director, UHN Technology Development and Commercialization, University Health Network. “Creating a healthier world relies to a great extent on getting successful products commercialized and we need to all be globally competitive to achieve this important patient mission.”

“The OBIO Investment Summit and the Early Technology Showcase provides a straightforward opportunity to get an early look at cutting edge science coming up in Canada,” said Vincent Ling, ‎Senior Director, Center for External Innovation (Business Development), Takeda Pharmaceuticals. “I have actively participated in the OBIO Investment Summit since it started, and always look forward to coming back every year.”

As the Canadian health science industry continues to experience a boom, local investors know the value that the OBIO Investment Summit brings in shining a spotlight on Canada.

“The OBIO Investment Summit is a great venue for a preselected group of Canadian life sciences companies to showcase their technologies and connect to a diverse group of global investors and potential partners,” said Jacki Jenuth, Partner, Lumira Ventures. “We look forward each year to connecting with entrepreneurs at the Summit, learning of the opportunity for their business and being able to share some of our experience and insight from 20+ years of building great life sciences companies.”

The 2021 OBIO Investment Summit is supported by our sponsors – Norton Rose Fulbright, Lumira Ventures, Innovative Medicines Canada, Prolucid, Merck and TMX – and Early Technology Showcase partners – AGE-WELL, BC Cancer, IRICoR, McMaster University Industry Liaison Office, Stem Cell Network, University Health Network (UHN), University of Ottawa, University of Waterloo Centre for Bioengineering and Biotechnology, and VIDO.

The Ontario Bioscience Innovation Organization (OBIO®) founded in 2009, is a not-for-profit, membership-based organization engaged in strategy, programming, policy development and advocacy to further the commercialization of Ontario’s human health technologies positioning Ontario 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.

Engineering and Computer Science Professionals Ready for the Health Science Industry

Finding a new hire for your health science company with the mix of technical skills and industry experience is always a challenge.

Right now, OBIO has 18 highly-skilled, health science industry-ready engineering professionals that recently completed OBIO’s Health to Business Bridge (H2BB) Bootcamp and are available to start immediately.

Created in response to industry demand for skilled professionals with engineering and computer science backgrounds, OBIO’s H2BB Bootcamp has prepared job seekers for the health science industry in areas like:

-         Design Control – Concept to Product Commercialization

-         Project Management and Risk Management Fundamentals

-         Fundamentals of QMS and GMP

Send OBIO a job description and OBIO will match you with candidates who have the right mix of technical skills and industry-readiness you are looking for.

Accelerate your company’s success by hiring one of these highly sought-after professionals.

Send OBIO your job description today to Adam Khan at AdamKhan@obio.ca.