Oncoustics among Google’s first North America-wide cloud accelerator cohort

Oncoustics is among Google's recently unveiled cohort of 12 start-ups participating in the first installation of its cloud accelerator for start-ups in North America. Oncoustics CEO Beth Rogozinski said that as part of the program, the company aims to hone its ability in scaling machine learning environments and processes for the purpose of developing multiple new diagnostic products.

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

Making managing asthma easier for patients and providers

June 29, 2023 (Toronto, ON) – Nearly 3.5 million people across Canada suffer from asthma, the third most common chronic disease in adults and one that is increasing in prevalence. With support from OBIO® through its Early Adopter Health Network (EAHN™), the Albany Medical Clinic is partnering with Toronto-based digital start-up EAPOC (Evidence at the Point-of Care) to evaluate its electronic Asthma Management System (eAMS), a disease management and clinical decision support system (CDSS) designed to improve health outcomes for patients with asthma.

Prior to an appointment with their healthcare provider, patients access the eAMS through its web portal or app and complete an electronic questionnaire. The eAMS processes the information for care providers and generates personalized, guideline-based advice for each patient.

“The eAMS was developed as a response to gaps in primary care delivery for asthma care,” noted Dr. Samir Gupta, EAPOC President and CEO. “Although it has proven effective in trials, a successful evaluation of the sustainability of this technology will provide us with an opportunity to increase its adoption for asthma treatment, but more significantly, to expand its application to the management of other chronic diseases, thereby improving patient outcomes for millions of Canadians and others around the world.”

“We welcome the opportunity to work with EAPOC to evaluate a system that can help our physicians enhance patient care,” said Dr. Brian Adno, Medical Director at the Albany Medical Clinic. “The eAMS is a thoroughly researched, easy-to-use tool that allows our physicians to treat patients with asthma efficiently and effectively.”

“Providing effective primary care not only improves health outcomes for patients, it also has the potential to reduce future healthcare system costs,” said Dr. Maura Campbell, President and CEO of OBIO®. “The Albany Clinic and EAPOC evaluation demonstrates the importance of supporting innovation in the primary care setting and OBIO® is pleased to support it through the EAHN™ program.”

About OBIO®

OBIO®, a not-for-profit, membership-based organization dedicated to advancing health technology innovation and commercialization, is prioritizing the evaluation of new technologies through their Early Adopter Health Network (EAHN™) to provide solutions. OBIO® is 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. Visit OBIO.ca for more information.

About EAPOC

EAPOC (Evidence at the Point-of Care) is a health technology company that develops computerized decision-support systems to enable providers to improve the quality of care.  There are highly prevalent and stubborn gaps between the best care that guidelines recommend and the actual care that patients receive. The company is founded on the principle that when the needs of patients and providers are prioritized, technology can not only effectively bridge these gaps and improve outcomes for patients, but also improve efficiency for providers. Visit EAPOC for more information.

About the Albany Medical Clinic

The Albany Medical Clinic, celebrating 75 years of service to the East Toronto community, is one of Canada’s oldest full-service healthcare clinics supporting a patient community of over 50,000.  Since 1946, the Albany Medical Clinic has been providing a wide range of quality community-based healthcare including onsite diagnostic testing and a Walk-in Clinic open to the community.  Today, the medical team at the Albany Medical Clinic has more than 35 family doctors and more than 40 different specialists supported by a team of staff including nurses and other direct physician supports. Visit Albany Medical Clinic for more information.

Contacts

For more information, about OBIO’s Early Adopter Health Network (EAHN™), or if you are interested in joining the Network, please contact: Bibaswan Ghoshal, Director, Market Acceleration.

For more information about EAPOC, please contact: Samir Gupta, CEO.

For more information about the Albany Medical Clinic, please contact: Wanda Morvay, General Manager and CFO.

Connecting women in health in Hamilton

By Garima Ghale & Christina Yeh

On June 20, 2023, the OBIO® Women in Health Initiative (WiHI) hosted “Connecting Women in Health in Hamilton”, sponsored by Resilience and in partnership with McMaster Industry Liaison Office (MILO), Innovation Factory, The Forge, The Clinic and Synapse Consortium. The event featured a morning panel discussion on “Workforce Development in Biomanufacturing,” a networking lunch for women at all stages of their career and a workshop on “Fundraising for Women-Led Health Science Companies.”

Make it stand out

Whatever it is, the way you tell your story online can make all the difference.

Dr. Maura Campbell, President & CEO of OBIO®, opened the event by welcoming attendees, briefly introducing WiHI and sharing her own career journey in the health science industry. Dr. Campbell then introduced video remarks by the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. Minister Tassi cited the event as an amazing opportunity for attendees to network and hear like-minded innovators and leaders share stories and information about the health technology sector.

Resilience, a leading biomanufacturing innovation partner and proud sponsor of the event, was represented by Sara Homa, Manager, Business Development – Biologics & Vaccines. Sara highlighted the flexibility of the company’s business model and its successful collaborations across academia, government and the pharma industry in delivering biomanufacturing solutions for established and emerging modalities.

Prior to the panel discussion, representatives from Triumvira Immunologics, OmniaBio, Moderna Canada, and Fusion Pharmaceuticals provided an overview of their companies, including their roles and hiring outlook. They outlined their missions, visions, and plans for growth and innovation in the health sector over the next 6-12 months.

Workforce Development in Biomanufacturing Panel

Make it stand out

Whatever it is, the way you tell your story online can make all the difference.

Panelists Eleonore Attignon (Lead Scientist II at OmniaBio), Danielle Hayes (Associate Director of Bioprocess Engineering at Triumvira Immunologics),  Kavisha Jayasundara (Director of Market Access and Innovative Partnerships at Moderna Canada) and Vicki Toner (Director of External Radiopharmaceuticals Manufacturing Operations at Fusion Pharmaceuticals) brought their expertise to the panel discussion on workforce development for R&D and manufacturing in the life sciences industry. Dr. Maura Campbell moderated the discussion, which shed light on important aspects of career transition, early engagement in STEM, and the need for standardized biosafety and training on good manufacturing practices.

During the discussion, panelists shared their personal stories of transitioning from academia to R&D to biomanufacturing, inspiring participants to explore diverse opportunities early in their careers, such as internships or part-time jobs. They emphasized the value of sparking girls' interest in STEM from an early age, starting at school. By nurturing their curiosity and providing supportive environments, we can cultivate a strong pipeline of talented women in the life sciences industry. One of the key takeaways from the discussion was the importance of standardizing biosafety and training for good manufacturing practices to access R&D and manufacturing roles. Establishing consistent entry-level training programs will not only enhance the skills of aspiring professionals, but also ensure the highest level of safety and quality within the industry.

Fundraising for Women-Led Health Science Companies Session

Following this insightful panel discussion, participants were invited to join our panelists, sponsor & partners for a networking lunch session prior to the workshop on “Fundraising for Women-Led Health Science Companies.” For this session, WiHI was pleased to welcome Althea Wishloff (Venture Partner at Archangel Network) and Claudia Hui (Vice President, Investment Banking at Bloom Burton & Co.) to speak to women entrepreneurs about the fundraising and financing journey for health science companies.

Make it stand out

Whatever it is, the way you tell your story online can make all the difference.

Althea’s presentation on “Raising Capital as a Healthtech Company” covered topics such as the structure of venture funds, cheque sizes & follow-on strategies for different types of investors (angels, VCs, family offices), investment vehicles, and the process of raising rounds & due diligence. Althea emphasized preparation, being intentional, understanding an investor’s investment thesis, and providing regular updates to both existing & prospective investors.

Make it stand out

Whatever it is, the way you tell your story online can make all the difference.

This segment led to Claudia’s presentation on “Fundraising for Later Stage Companies”, which began with overviews of the current biotech and medtech investment landscape, as well as the fundraising process. She emphasized the importance of strong documentation, data package, competitive differentiation, understanding your business risks and how to mitigate them, and knowing how much capital and time is required for your company to achieve a significant milestone/de-risking event. Claudia also offered tips to entrepreneurs on how to engage with investors and deliver a compelling pitch.

“Connecting Women in Health in Hamilton” brought together students, recent graduates, scientists and entrepreneurs, showcasing Hamilton’s vibrant health science ecosystem. We are thankful to Resilience, MILO, Innovation Factory, The Forge, The Clinic, Synapse Consortium and all the panelists and speakers who contributed to the success of this event.

CABHI funds over $1.9 million in latest cohort of healthcare innovations for older adults and caregivers

The Centre for Aging + Brain Health Innovation (CABHI), powered by Baycrest, recently announced funding of over $1.9 million to support the development and validation of 40 innovations aimed at improving the quality of life for older adults, people living with dementia, and caregivers. The latest cohort features innovation projects covering CABHI's priority themes of caregiver support, aging in place, care coordination and navigation, and cognitive and mental health.

M&A activity in the medical devices industry in Canada increased by 14% in Q1 2023

According to GlobalData’s Deals Database, eight M&A deals were announced in Q1 2023, worth a total value of $150.9m in the Canadian medical devices industry.

 In value terms, M&A activity in Canada increased by 1763% in Q1 2023 compared with the previous quarter’s total of $8.1m and rose by 128% as compared to Q1 2022. Related deal volume increased by 14% in Q1 2023 versus the previous quarter and was 14% higher than in Q1 2022.

Canadian manufacturers form alliance with medical device OEMs

Two Winnipeg-based companies Precision ADM and Orthopaedic Innovation Centre (OIC) are joining Tecomet and EOS forging partnerships across North America.

The partnership includes a full range of services including front-end engineering and design services, 510k approval pathways, device and machine validation, pre-clinical testing, and commercialization.

Zucara Therapeutics receives additional funding of US$2 million

Zucara Therapeutics, a diabetes-focused life sciences company developing the first once-daily therapeutic to prevent hypoglycemia in people with diabetes, recently announced additional funding of US$2 million from JDRF, the leading global Type 1 diabetes research and advocacy organization. The funding will support Zucara’s planned Phase 2a study aimed at showing prevention of hypoglycemia in people with Type 1 diabetes. 

Zucara Therapeutics is an OBIO® member, is part of OBIO’s Workforce Development programs and presented at the OBIO® Investment Summit.

Vessl Prosthetics receives $30,000 from the TechAlliance i.d.e.a Fund™

Vessl Prosthetics is among the recipients of TechAlliance of Southwestern Ontario’s i.d.e.a Fund™. Vessl will use the funding and mentorship to advance its product development.

 Vessl Prosthetics is an OBIO® member.

Trexo Robotics’ walker opens possibilities of movement for five-year old

Read this article published by CBC on how technological innovations can bring joy in the lives of children with mobility difficulties by allowing them to experience walking and improve balance. Trexo Robotics’ robotic walker opened possibilities of movement for five-year old Leo Cogger.

Trexo Robotics is an EAHN™ company and is currently working on an evaluation project with Alberta Health Services to improve the quality of life of children with disabilities and injuries.

Innovative digital treatment aims to improve quality of life for cancer survivors

The SEAMLESS Study, a clinical trial for cancer survivors, is set to investigate the effectiveness of Mobio Interactive’s mobile programme, Mindfulness-Based Cancer Survivorship (MBCS), in reducing post-treatment side-effects for cancer survivors across Canada. The study aims to enhance the psychosocial care available to survivors through the use of a low-cost, evidence-based intervention delivered remotely via the digital theragnostic platform, AmDTx.

OBIO® through its Early Adopter Health Network (EAHN™) is supporting a new CHEO Research Institute study, in collaboration with Mobio Interactive to examine the feasibility of delivering clinically validated mindfulness therapy for youth through the latter's AI-powered mobile app. Read more about the partnership here.

Innovation Factory announces innovators in i.d.e.a Fund™ cohort 2

Twenty-one companies received contributions of $630,000 from Innovation Factory, in partnership with Innovation Guelph, through Cohort 2 of the Government of Canada-supported i.d.e.a. Fund™.

 The i.d.e.a. Fund™ is a southern Ontario-focused initiative that was developed to help clean growth firms access the tools they need to succeed by providing financial and business advisory supports to develop or redesign green products, services, processes and technologies that reduce impacts to our environment and create made-in-Canada climate change solutions.

 AIMA Laboratories, an OBIO® member, is among the recipient companies.

Feldan Therapeutics secures $16.5 million series B to bring lead asset to clinical development

Feldan Therapeutics, a biopharmaceutical company that specializes in the development of treatments based on intracellular delivery of therapeutics, recently announced the initial closing of a $16.5 million Series B investment. The funds will primarily be used to conduct clinical phases I/II for Feldan's FLD-103, an intralesional treatment against basal cell carcinoma (BCC), and to advance its pulmonary program to the preclinical stage.

Feldan Therapeutics presented at the OBIO® Investment Summit.

$11 million program supporting Ontario’s biotech start-ups

Eight Ontario start-ups in the health, food and agriculture and clean-tech sectors are the first round of recipients for Ontario Genomics’ BioCreate program, an $11.6-million initiative providing financial and business support to help move the province’s biotechnology scene forward.

Congratulations to AIMA Laboratories, an OBIO® member and other companies including Index Biosystems, Kraken Sense, Ceragen, BioFect Innovations, Genecis, Liven Proteins and Performance Plants on being selected for the first cohort of BioCreate!

Canadian life sciences on life support? We must stem the innovation brain drain

BY DR. MAURA CAMPBELL AND CATE MURRAY
SPECIAL TO THE GLOBE AND MAIL

Our health research and commercialization systems are in trouble – they need our attention now. We have a world-leading legacy in the life sciences. Canadians invented insulin, the pacemaker and the first Ebola vaccine. We discovered the genes that cause ALS and cystic fibrosis. Canadians are also pioneers in the field of regenerative medicine through the discovery of stem cells and how to use them to treat disease and illness.

Yet, despite our country’s ability to make groundbreaking discoveries, something happens along the way that is keeping us from realizing the full value of our research efforts. Many Canadian innovations never make it out of the lab. If they do, they end up south of the border.

As a result of poor commercialization of intellectual property, we lose not only direct economic and health benefits but indirect benefits too – specifically, attracting and retaining a skilled talent base with the passion, know-how and commitment to produce made-in-Canada health products that will ensure our country’s health security and prosperity.

Maura Campbell is the president and CEO of the Ontario Bioscience Innovation Organization.
Cate Murray is the president and CEO of the Stem Cell Network.

Providence Therapeutics announces partnership with University Health Network (UHN) for mRNA therapeutic discovery and development

Providence Therapeutics Holdings Inc., a biopharmaceutical company developing messenger RNA (mRNA) vaccines and therapeutics, recently announced its mRNA drug discovery partnership with University Health Network (UHN), ranked first on a list of Canada's top 40 research hospitals by Research Infosource Inc. and within one of the world’s top 5 hospitals for the fourth year in a row, as reported by Newsweek. This collaboration will allow Providence and UHN to develop mRNA-based vaccines and therapeutics for those living with difficult to treat cancers and infectious diseases, using Providence’s proprietary mRNA platform technology.

Cubresa installs first BrainPET Insert System at Lawson Health Research Institute

Cubresa recently announced installing the first BrainPET Insert System at St. Joseph’s Health Care London, in partnership with the hospital’s research institute – Lawson Health Research Institute. The Cubresa BrainPET is a diagnostic imaging research tool that aids in the detection, localization, and diagnosis of diseases and disorders of the brain, and will enable evaluation of neurological diseases and brain cancers.

Cubresa presented at the OBIO® Investment Summit.

BenchSci raises $95M series D funding to enable drug discovery innovation at scale with its groundbreaking AI platform ASCEND

BenchSci, a world leader in AI solutions for preclinical life sciences research and development (R&D), recently announced a $95 million (US $70 million) Series D funding to expand their AI drug discovery platform ASCEND™, enabling scientists to discover biological connections, dramatically reduce trial-and-error experimentation and uncover risks early.

Swift Medical announces proven outcomes across 20 million wound assessments

Swift Medical, a digital health technology company focused on improving clinical and economic outcomes in wound care, recently announced proven outcomes from more than 20 million wound assessments captured with Swift’s leading, AI-powered wound care platform. Deployed in nearly 4,000 healthcare facilities across North America, Swift’s technology has been shown to speed up wound healing by 37%, reduce wound prevalence and hospitalizations by 35% and 14%, respectively, and reduce hospital length of stay by 62%.

Swift Medical is a participant of BDSP™ and alumnus of CAAP® and WiHI.

Fluid Biomed Inc. announces world's first implantation of polymer-based neurovascular stent in human patients

Fluid Biomed Inc., a medical device company developing ReSolv™, the world's first hybrid polymer-metal flow-diverting stent to treat brain aneurysms, recently announced the international launch of REDIRECT, its first-in-human clinical trial. Phase 1 of this technical feasibility and safety study has begun with successful device implantation without adverse effect in human subjects at the pre-determined 30-day time point and recruitment is on-going.

FluidBiomed is an OBIO® member and presented at the OBIO® Investment Summit.

AtomVie Global Radiopharma raises over $90M to complete its new facility buildout

AtomVie Global Radiopharma Inc. (AtomVie), a global-leading Contract Development and Manufacturing Organization (CDMO) for the GMP manufacturing and worldwide distribution of radiopharmaceuticals, recently announced the closing of its Tranche 2 Series A financing, reaching over $90M total to complete building its new state-of-the-art GMP manufacturing facility.

Atomvie Global is an OBIO® member.