Ontario's leading advocate for the life sciences sector
Read this story published in the Globe and Mail on the femtech companies and the important work they are doing to tackle gender health gaps and shift the focus on women’s health. We are elated to see Rachel Bartholomew, Founder and CEO, Hyivy Health and other amazing women founders recognized for the tremendous impact they are making in women’s health in this article.
Hyivy Health is an alumnus of our BDSP™, CAAP®, EAHN™ and WiHI programs, and presented at the OBIO® Investment Summit.
16 Bit Inc., a software medical device company, recently announced that the U.S. Food and Drug Administration (FDA) has granted a De Novo marketing authorization for Rho™, an AI-enabled software device aimed at improving a known care gap in osteoporosis screening. Rho received Breakthrough Device designation by the FDA in March 2021, signifying the first FDA-authorized radiology software for opportunistic evaluation of low bone mineral density (BMD).
16Bit is an alumnus of our BDSP™ and H2BB™ programs, presented at the OBIO® Investment Summit, and is a part of our Life Sciences Critical Technologies & Commercialization (LSCTC) Centre of Excellence technology adoption stream.
April 11, 2024 (Ottawa, ON) – Following a successful evaluation held in 2022-2023 on how a digital inventory and 3D printing solution could help solve supply chain issues, CHEO is committing to a five-year agreement with PolyUnity Tech to bring Additive Manufacturing capabilities – otherwise known as 3D printing solutions – to pediatric healthcare in Ontario. The evaluation was supported through OBIO’s Early Adopter Health Network (EAHN™) and resulted in more than 200 new innovations, 1,281 products delivered, and 460 pieces of equipment repaired and returned to service, leading to a successful adoption of the solution. OBIO’s EAHN™ program is supported by the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
With supply chain shortages, delays or difficulty in obtaining unique replacement parts, CHEO is exploring new services to expand access to innovative and specialized products. Over the past few years, the CHEO Research Institute collaborated with PolyUnity to better understand how 3D printing could be used in a healthcare setting, with the goal of reducing costs and downtime of equipment.
PolyUnity is at the forefront of bringing Additive Manufacturing as a Service (AMaaS) solutions and its associated benefits to the healthcare sector. Additive manufacturing utilizes a computer-controlled process to create 3D objects by depositing materials, typically layer by layer. By harnessing AMaaS, healthcare organizations can leverage rapid and innovative product solutions to drive operational efficiencies, reduce costs, and enhance overall patient outcomes. AMaaS empowers healthcare professionals such as clinical engineers, doctors, nurses, physiotherapists, and researchers to swiftly transform problems into prototypes and useful products.
Through this agreement, CHEO will continue to work with PolyUnity to leverage its technology, saving costs and creating operational efficiencies while avoiding complex procurement processes along the way.
QUOTES:
“OBIO® is growing the Canadian-made health technologies that are making a difference across Canada. OBIO’s Early Adopter Health Network (EAHN™) is supporting innovators as they find solutions to the challenges facing our health care system to ensure Canadians are getting the best quality care available.” —The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario.
“At CHEO, we know that innovation is part of how we constantly improve outcomes of care for children, youth and families. This new agreement with PolyUnity highlights how by working collaboratively with the business and investment communities to explore and validate new technologies can help us bring promising new solutions into healthcare.” —Dr. Jason Berman, Chief Executive Officer and Scientific Director, CHEO Research Institute, and Vice-President Research, CHEO.
“It is the impact of the great collaborative work we do with our healthcare partners that matters most. Creating innovative solutions for supply chain issues and delivering replacement parts quickly for organizations like CHEO has a direct impact on patients. And this work is especially meaningful to us at PolyUnity.” —Mark Gillingham, President, PolyUnity Tech Inc.
“Our healthcare organizations are continuously asked do more with less. And this is why innovation becomes critical to delivering value-based healthcare services. We’re so proud of the 200+ innovative products created in collaboration with CHEO’s team members and are excited to continue creating more solutions together.” —Jacqueline Lee, CEO, PolyUnity Tech Inc.
“Our goal is to help innovative companies like PolyUnity get into new markets and this is exactly what our EAHN™ program was designed to do. We are thrilled to be the first to support the adoption of PolyUnity’s game-changing technology by Ontario healthcare organizations.” —Dr. Maura Campbell, President and CEO of OBIO®.
About CHEO
Dedicated to the best life for every child and youth, CHEO is a global leader in pediatric health care and research. Based in Ottawa, CHEO includes a hospital, children’s treatment centre, school and research institute, with satellite services located throughout Eastern Ontario. CHEO provides excellence in complex pediatric care, research and education. We are committed to partnering with families and the community to provide exceptional care — where, when and how it is needed. Every year, CHEO helps more than 500,000 children and youth from Eastern Ontario, western Quebec, Nunavut and Northern Ontario.
About PolyUnity Tech Inc.
PolyUnity is a Canadian healthcare technology company with a driving purpose to “Improve Healthcare.” Its mission is to work with healthcare organizations and provide 3D printing applications to improve operational efficiencies, reduce costs, and improve patient experiences. PolyUnity provides a fully managed Additive Manufacturing as a Service (AMaaS) solution that includes a digital marketplace platform to efficiently access digital design services and a growing library of 3D printable products and applications that are specific to healthcare organizations. All print production and delivery logistics are also managed by PolyUnity. The solution significantly reduces the cost and complexity of traditional healthcare procurement, builds supply chain resiliency, and reduces its carbon footprint. It enables healthcare providers and their networks to design, access, and produce what they need on demand.
Learn more at www.polyunity.com and connect with us on LinkedIn, Facebook, & Instagram.
About OBIO®
Founded in 2009, OBIO® is a not-for-profit, membership-based organization dedicated to advancing health technology innovation and commercialization, is prioritizing the evaluation of new technologies through its Early Adopter Health Network (EAHN™). 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.
For more information, please visit OBIO.ca and follow us on LinkedIn and X.
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:
Jennifer Ruff
Director of Communications
CHEO Research Institute
jruff@cheo.on.ca
Mark Gillingham
President
PolyUnity Tech Inc.
mark@polyunity.com
Doriane Rey
Manager, Marketing & Events
OBIO®
dorianerey@obio.ca
Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
edward.hutchinson@feddevontario.gc.ca
Swift Medical announced a strategic co-investment from DIGITAL, Canada’s Global Innovation Cluster for digital technologies, as a landmark move to push the boundaries of healthcare innovation. This collaboration is set to revolutionize the way wound care is delivered, utilizing artificial intelligence (AI) to forge significant advancements in patient outcomes and equity in treatment. The partnership will focus on the deployment of Swift Medical’s cutting-edge AI technologies designed to standardize and improve wound care.
Swift Medical is an OBIO® member and an alumnus of our BDSP™ and CAAP® programs.
ProteinQure, the leading start-up in the computational design of peptide drugs, recently announced a significant breakthrough in the fight against Triple-Negative Breast Cancer. The novel Peptide Drug Conjugate, designed by ProteinQure, demonstrated exceptional efficacy in a comprehensive suite of Patient-Derived Xenograft (PDX) models. The experiments were conducted in the lab of Dr. David Cescon at the Princess Margaret Cancer Centre/University Health Network, one of the world's top five cancer research centres.
ProteinQure is an OBIO® member and an alumnus of our BDSP™, CAAP® and WiHI programs.
mDETECT is among the four companies selected for BioCreate, the program funded by Ontario Genomics, a non-profit organization funded by the Government of Ontario and FedDev Ontario. mDetect has developed a blood test that detects six common cancers and provides doctors with information about how well a patient has responded to treatment.
mDETECT is an OBIO® member, an alumnus of our WiHI program, and presented at the OBIO® Investment Summit.
Conavi Medical’s reverse merger with Titan Medical, which is expected to close in July 2024, and concurrent financing are anticipated to cultivate an investor network to help fund the expansion of the Novasight Hybrid System, a breakthrough imaging platform for use by interventional cardiologists during common minimally invasive heart procedures.
Conavi Medical is an OBIO® member and alumnus of our BDSP™, CAAP® and WiHI programs, and presented at the OBIO® Investment Summit.
Four new start-ups have been welcomed into BioCreate, Ontario Genomics’ $11.6-million accelerator program providing financial and business support to biotechnology companies that are creating game-changing solutions in the health, food and agriculture, and cleantech industries. BioCreate is funded by Ontario Genomics and a Government of Canada investment of over $5.6 million, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
The program connects highly vetted companies with $150,000 in funding, 18 months of business mentorship, access to critical infrastructure to scale up their products and an opportunity to pitch to investors for further funding.
Congratulations to the selected companies - AuX Labs, Genuine Taste, mDETECT and Scispot! Shout-out to OBIO-affiliated companies, SciSpot and mDETECT!
Flosonics Medical, a leader in wearable medical ultrasound, announced its Series C financing, raising $20 million USD. The round was led by New Leaf Venture Partners, with participation from previous investors Arboretum Ventures, Genesys Capital and iGan Partners. This new funding will support Flosonics as the company continues to innovate and drive market adoption of FloPatch, a first-in-class wearable Doppler ultrasound for hemodynamic assessments.
Flosonics Medical is an OBIO® member, an alumnus of our BDSP™, CAAP®, EAHN™, HealthMINT™ and WiHI programs, and presented at the OBIO® Investment Summit.
March 26, 2024 (Toronto, ON) – An effective physical therapy for children with injuries or disabilities affecting their motor skills requires an innovative solution that can build muscle memory and stimulate neuroplasticity. There are currently no effective interventions known to improve motor function for children with severe disabilities. To address this challenge, Ontario-based health technology company Trexo Robotics developed Trexo Plus, a robotic walking device for injured or disabled children’s rehabilitation. Last year, Trexo joined forces with OBIO’s Early Adopter Health Network (EAHN™) and the Innovation and Business Intelligence team at Alberta Health Services (AHS) to assess the viability of Trexo Plus in a clinical setting.
The EAHN™ program was a catalyst behind this evaluation, with the goal of expanding the reach of health tech companies in Ontario and supporting the positioning of Canada as a leader in innovative health tech.
Final findings indicated that children with disabilities who used Trexo Plus met their rehabilitation goals. They had high performance and satisfaction scores, achieved their health-related objectives and were able to access the best available care, leading their families to express a keen interest in the technology.
“This device was created through an iterative process with therapists, other healthcare professionals and families,” said Manmeet Maggu, co-founder and CEO of Trexo Robotics. “The device has evolved, offering more features and benefits. Our mission from day one has been to reach and benefit as many children as possible.”
“This study enabled us to explore implementation of a cutting-edge intervention and provide equitable access to robotic walking for children with severe mobility impairments,” said Dr. Elizabeth Condliffe, University of Calgary and Alberta Children’s Hospital, and the evaluation’s Lead Study Investigator. “It has generated overwhelming interest in Calgary.”
“This study highlighted how the transformative potential of health technologies can improve the quality of life for children with disabilities,” said Dr. Maura Campbell, President and CEO of OBIO®. “Through the EAHN™ program, we continue to accelerate the adoption of innovative health technologies by providing Ontario start-ups access to the Canadian healthcare market.”
About OBIO®
Founded in 2009, OBIO®, a not-for-profit, membership-based organization dedicated to advancing health technology innovation and commercialization, is prioritizing the evaluation of new technologies through its Early Adopter Health Network (EAHN™). 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. For more information, please visit obio.ca and follow OBIO® on LinkedIn and X (formerly Twitter).
Contact:
Bibaswan Ghoshal
Senior Director, Technology Adoption
bibaswanghoshal@obio.ca
416-848-6839 x 125
About Trexo Robotics
Trexo Robotics is a leading innovator in robotic gait trainers, dedicated to enhancing the lives of individuals with physical challenges. Founded on the principle that everyone deserves the opportunity to walk, Trexo develops robotic gait trainers to empower children to experience the benefits of walking.
Contact:
Jennifer Horowitz
Head of Marketing
jh@trexorobotics.com
562-784-7711
Tenomix, an image-guided diagnostic company based out of Western University’s BioNext Medtech Incubator, recently celebrated a significant milestone with an oversubscribed all-Canadian $2.14M funding round. This funding round includes contributions from FACIT, the Ontario Centre of Innovation’s Life Science Innovation Fund, Phoenix Fire Fund (part of the Archangel Network of Funds), OBIO’s Women in Health Initiative Seed Program, and individual angel investors.
The recent funding will fuel Tenomix’s ambitions to expand its technical team, accelerate their IP applications, and complete validation studies with leading North American hospitals and health centres. Achieving those milestones will pave the way for FDA and Health Canada clearance, furthering the impact on patient care and health systems
We are happy to support Tenomix through OBIO’s Women in Health Initiative Seed Program! Tenomix is an OBIO® member and an alumnus of our BDSP™ and HealthMINT™ programs.
Quthero, a pioneering biotech company renowned for its unique Q-peptide platform technology, recently announced the successful acquisition of $500,000 in investment funding from the Ontario Centre of Innovation's (OCI) Life Science Innovation Fund. This is in addition to a co-investment of $850,000 for a total round size of $1,350,000.
Quthero is an OBIO® member, an alumnus of our BDSP™, CAAP®, HealthMINT™ programs, and presented at the OBIO® Investment Summit.
Noa Therapeutics, a preclinical stage biotech company with a portfolio of novel trimodal therapeutics to address inflammatory barrier diseases, secured an oversubscribed pre-Seed financing round. The round was led by UCeed, with participation inclusive of Ontario Centre of Innovation Life Science Innovation Fund, Archangel Network's StarForge and Phoenix Fire funds, Golden Triangle Angel Network, Angel One Investor Network, and NorthSpring Capital Partners. The financing round is inclusive of 58% of investment diligence led by women and 27% direct dilutive investment by women.
Noa Therapeutics is an OBIO® member, an alumnus of our BDSP™, H2BB™ and WiHI programs, and presented at the OBIO® Investment Summit.
Fusion Pharmaceuticals, a clinical-stage oncology company focused on developing next-generation radioconjugates (RCs) as precision medicines, recently announced entering into a definitive agreement to be acquired by AstraZeneca. The acquisition marks a major step forward in AstraZeneca delivering on its ambition to transform cancer treatment and outcomes for patients by replacing traditional regimens like chemotherapy and radiotherapy with more targeted treatments.
Fusion Pharmaceuticals is an OBIO® member and an alumnus of our BDSP™ program.
Domain Therapeutics, a clinical-stage global biopharmaceutical company developing innovative drug candidates in immuno-oncology targeting G Protein-Coupled Receptors (GPCRs) and Chime Biologics, a leading Contract Development and Manufacturing Organization (CDMO) that enables its partners’ success in biologics, announced the signing of a manufacturing service agreement for the production of Domain’s best-in-class Treg depleting anti-CCR8 antibody candidate, DT-7012. This phase of manufacturing aims to deliver an effective therapeutic for cancer patients worldwide.
Domain Therapeutics is an OBIO® member and presented at the OBIO® Investment Summit.
Cosm Medical achieved FDA clearance for Gynethotics™ Pessaries, marking it as the first personalized pessary available to patients. This milestone follows a recent Health Canada clearance and marks a significant advancement in pelvic care, emphasizing Cosm’s commitment to enhancing patient outcomes and revolutionizing treatment options for women worldwide.
Cosm Medical is an OBIO® member, an alumnus of our BDSP™, CAAP®, H2BB™, HealthMINT™ and WiHI programs, and presented at the OBIO® Investment Summit.
March 14, 2024 (Toronto, ON) – In honour of International Women’s Day on March 8, the Ontario Bioscience Innovation Organization (OBIO®) hosted an impactful networking event and pitch competition to celebrate the achievements of women in the health science sector. The event, supported by EY Canada, Cozen O’Connor and Stem Cell Network, featured video remarks by the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), remarks by the Honourable Charmaine Williams, Associate Minister of Women’s Social and Economic Opportunity, and a fireside chat with Sophie Park, Managing Director of Bayer G4A Investments & Partnerships, and showcased 11 women-led companies from the OBIO® Women in Health Initiative (WiHI) Seed Program.
Launched in July 2022 with Government of Canada’s support through FedDev Ontario, the OBIO® WiHI aims to bridge the gender disparity in the health science industry, particularly in senior management roles and leadership positions. The program offers comprehensive training, support and networking opportunities, empowering women with the skills and knowledge required to excel in leadership positions. The OBIO® WiHI has supported more than 325 women in the health science industry through a combination of experiential learning and financial support.
The WiHI Seed Program addresses the significant barriers that women-led health science companies face in accessing financing. The inaugural program cohort, A.I. VALI, Atorvia Health Technologies, Cove Neurosciences, HDAX Therapeutics, ImaginAble Solutions, mDETECT, MoxyPatch, Noa Therapeutics, Paradox Immunotherapeutics, Tenomix, and Vessl Prosthetics, benefited from six months of advisory support, access to expert networks, essential industry resources and trainings, and non-dilutive funding of up to $20,000.
To mark International Women’s Day, the cohort presented their business opportunities in a pitch competition, culminating with the announcement of HDAX Therapeutics, Paradox Immunotherapeutics and Tenomix Inc. receiving investments of $100,000 each from the OBIO® WiHI. The audience also voted ImaginAble Solutions the recipient of a $15,000 non-dilutive Audience Choice Award.
WiHI Seed cohort companies also made several announcements during the March 8 event, including the successful closing of their first financing rounds for Noa Therapeutics and Tenomix. The Ontario Centre of Innovation (OCI) through its Life Sciences Innovation Fund (LSIF), FACIT and Phoenix Fire (part of the Archangel Network of Funds) all invested in Tenomix. OCI LSIF and Phoenix Fire invested in Noa Therapeutics. Representatives from OCI, FACIT and Phoenix Fire were in attendance to celebrate these announcements.
“I am profoundly grateful for the support and recognition from OBIO®, right from our inception. Their backing through various programs and the recent investment via the WiHI Seed Program underscores their commitment to empowering women-led initiatives in health. This support has been instrumental in our journey to revolutionize pathology workflows and make a meaningful impact on cancer care,” said Eveline Pasman, Co-Founder & COO of Tenomix, an emerging company developing innovative technologies that streamline pathology workflows, drive down healthcare costs, and enhance patient care by improving treatment decisions.
“The combination of financial and wraparound supports delivered through the WiHI Seed Program enables women entrepreneurs to achieve critical milestones in their businesses,” said Dr. Maura Campbell, President & CEO of OBIO®. “We are pleased to support these women-led companies alongside our ecosystem partners at OCI, FACIT, and The Firehood. Access to early-stage capital is a critical barrier for women entrepreneurs, especially in the life sciences sector. These contributions are key to creating a more inclusive industry in Ontario.”
“Supporting organizations, like OBIO®, that increase the participation of women in our health sector is vital for our healthcare system,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “The Government of Canada is pleased to continue to support OBIO® as they drive positive change for the future of women through the Women in Health Initiative (WiHI) Seed Program and in the life sciences sector across Canada and the world.”
Earlier this month, OBIO® and FACIT announced a new partnership to address the barriers faced by women-identifying entrepreneurs in the health science sector. Building on both organizations’ commitments to support women-led companies and advancement of made-in-Ontario intellectual property, the new partnership will advance Ontario’s women-led companies towards commercialization.
"OBIO's dedication to championing women in the health sciences sector, demonstrated through the Women in Health Initiative (WiHI) Seed Program, aligns with our shared goal of creating a more inclusive and equitable industry,” said Claudia Krywiak, President and CEO, Ontario Centre of Innovation (OCI). “By collaborating with partners such as OBIO®, FACIT and The Firehood, we can help women entrepreneurs reach key milestones in their ventures, increasing our impact significantly and making strides toward a future where entrepreneurship is accessible and inclusive for everyone.”
About OBIO®
Founded in 2009, OBIO® 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 that position Canada as a leader in the international marketplace. OBIO® advances this goal through collaborative partnerships with industry, the investment community, academia, the health care 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:
Doriane Rey
Manager, Marketing and Events
OBIO®
dorianerey@obio.ca
Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
edward.hutchinson@feddevontario.gc.ca
March 8, 2024 (Toronto, ON) – On International Women’s Day, FACIT and OBIO® are pleased to announce a new partnership in the Ontario life sciences ecosystem, built on their common goal to drive entrepreneurial and commercialization mandates to address the unmet needs and barriers faced by female entrepreneurial leaders in STEM.
The partnership arises from OBIO’s and FACIT’s successes in creating value through supporting female entrepreneurs in life science who are driving the advancement of innovations and healthcare communities. Across all sectors, women-led companies face significant challenges when it comes to accessing financing and support systems, receiving only about 2% of venture capital funding. Further, only 16% of Canadian small-to-medium enterprises are majority-owned by women.
Both organizations have established track records co-investing and working closely with different commercialization groups across Ontario and beyond, striving to increase value for life sciences intellectual property and driving economic impact by providing access to entrepreneurship and business tools as well as domestic capital. Through its Women in Health Initiative, OBIO® has supported more than 325 women in the life sciences industry through experiential learning and financial support. The inaugural cohort of the WiHI Seed Program provided a combination of financial and advisory supports to 11 women-led early-stage companies. Independently, FACIT has been roughly doubling the industry average by investing more than 30% of total investment capital in women-led companies, comprising a third of all FACIT’s portfolio of Ontario start-ups.
OBIO® and FACIT’s independent programs have supported and provided financing to Ontario start-ups founded or led by women, including Hyivy Health, HDAX Therapeutics and Tenomix Inc. The partnership announced today will allow the organizations to leverage their complementary resources and expertise, creating synergies to provide a seamless continuum of support and lower barriers faced by female entrepreneurs in accessing resources, training, connections and venture funding. Capitalizing on these synergies will help position and propel women-founded start-ups and innovations to achieve value inflection and secure next-stage financing for development, sustainability and scale in the province. In doing so, the novel program addresses the governments of Canada and Ontario strong interests to strengthen the entrepreneurial ecosystem for women-led businesses. While diverse and independent seed stage programs and investors are key to addressing the unique needs of early-stage life sciences entrepreneurs, partnerships are critical to driving innovation and making an impact for patients with cancer.
Quotes:
Dr. Maura Campbell, President and CEO of OBIO® – “We are delighted to partner with FACIT in the important work of backing female founders. FACIT specializes in venture building whereas OBIO® provides wraparound supports to established companies. We are very proud of what we have achieved through our Women in Health Initiative over the past two years and this new partnership is a good marriage of the expertise of both organizations and gives us a collective opportunity to strengthen support for women entrepreneurs in oncology.”
Dr. Connie Chen, Senior Director of Strategy and Corporate Development, FACIT – “The synergies of combining entrepreneurial development resources with FACIT’s commercialization expertise and seed capital reflects a novel and inclusive public-private partnership model for Ontario’s early-stage life sciences innovations. Through this collaboration, OBIO® and FACIT will together elevate and increase the equity, representation, and positioning of women-led start-ups.”
Jill Dunlop, Minister of Colleges and Universities – “Our government is proud to support Ontario-funded commercialization groups like FACIT that have the expertise and resources to create an ecosystem that supports women entrepreneurs and the significant contributions they make to Ontario.”
Vic Fedeli, Minister of Economic Development, Job Creation and Trade – “Through our Life Sciences Strategy, our government is supporting organizations that are excelling in promoting innovation in the life sciences sector. Congratulations to OBIO® and FACIT on their new partnership that will promote female entrepreneurship and help to break down barriers for women in STEM.”
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).
Contact
Doriane Rey | Manager, Marketing & Events, OBIO® | dorianerey@obio.ca
About FACIT
FACIT is an award-winning commercialization venture firm that builds companies with entrepreneurs to accelerate oncology innovation, with a portfolio that has attracted more than $1.6 billion in investment to Ontario. Blending industry experience, capital and the unsurpassed clinician-scientist network of its strategic partner the Ontario Institute for Cancer Research (OICR), FACIT capitalizes on the province’s investment in research and healthcare to the benefit of the local economy and patients worldwide. Cancer Breakthroughs. Realized. facit.ca.
Contact
Connie Chen, PhD | Senior Director, Strategy and Corporate Development, FACIT | connie.chen@facit.ca
March 5, 2024 (Hamilton, ON) – Nail fungus (onychomycosis) affects some 50% of seniors across the world. It becomes more prevalent in aging populations because the nails, and especially toenails, tend to become drier and more fragile, and it can also be more difficult to take care of feet properly when circulation or mobility issues get in the way. In long-term care homes, where many seniors reside, fungal nail infections are not only an esthetic issue, but are often very painful, making it difficult to wear shoes and impeding mobility, ultimately reducing the quality of life.
Ontario-based ToeFX Inc., with support from OBIO’s Early Adopter Health Network (EAHN™), launched a safe and effective, portable device to treat onychomycosis with light therapy at Banwell Gardens Care Centre.
This was a highly successful evaluation. ToeFx’s ClearToe Therapy Light has been authorized by Health Canada as a Class II Medical Device and is a clinically proven treatment to promote clearance of nail fungus on toenails in 10-12 treatments. All the patients at Banwell Gardens Care Centre who underwent this therapy were very satisfied with the outcomes, and reported an improvement in their nails, stating they looked brighter and clearer.
“Banwell Gardens Care Centre was delighted to offer residents and their caregivers a safe, effective therapy for fungal nails,” said Sara Fox, Executive Director of Banwell Gardens Care Centre. “Healthy feet are fundamental for seniors’ mobility and their quality of life.”
“We are so grateful to the EAHN™ program for supporting an evaluation which demonstrated how our product can bring safe and accessible treatment to those who need it, and cost-effectively,” said Monika Yazdanian, CEO of ToeFx Inc. “We are confident that these results will lead to better integration of this easy-to-deliver therapy across institutional settings, and the technology has already been procured for use at other long-term care homes.”
“OBIO® is proud of this valuable collaboration through the EAHN™ program, the first in a long-term care facility”, said Dr. Maura Campbell, President and CEO of OBIO®. “Banwell Gardens Care Centre and ToeFx Inc. evaluated a made-in-Canada therapy that meets a real clinical need, laying the groundwork for future EAHN™ partnerships in the long-term care sector.”
ClearToe Therapy Light is a painless, easy to use treatment and unlike topical applications and oral therapies does not require daily commitment and has no side effects. It is an ideal method to treat nail fungus, particularly in seniors, and is also effective in very severe cases.
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 its Early Adopter Health Network (EAHN™). 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.
For more information, please visit OBIO.ca.
About ToeFx
ToeFX is driven by innovation. Created by scientists, our vision is to create the world’s most effective foot care treatments. We understand that toenail fungus can be embarrassing, hard to treat, and hard to talk about. We want to help the millions of people hiding their feet to “show off their toenails” with confidence. Our commitment to our partner clinicians and their patients is to provide innovative, high-quality products that really work. Visit ToeFx Inc. for more information.
About Banwell Gardens Care Centre
With 142 long-term care residents, Banwell Gardens Care Centre maintains a warm, inviting atmosphere in the neighbourhood of Tecumseh. We pride ourselves on providing outstanding, compassionate care to our residents and paying close attention to their individual needs. We are pleased to offer French Language Services and strive to meet the needs of our bilingual community. Well-established programs such as pet and music therapy, restorative care and physiotherapy enhance residents physically, mentally and emotionally. Our landscaped courtyard features seating and a walking path for exercise and the enjoyment of all. Visit Banwell Gardens Care Centre for more information.
Tenomix, a pioneering medical technology company at Velocity, University of Waterloo’s startup incubator, successfully closed a $2 million all-Canadian seed funding round that will help develop a groundbreaking robotics system designed improve the accuracy of colon cancer staging.
Accurate determination of colorectal cancer stages is crucial to determining the right treatment plan but is often a delicate balance between art and science. Tenomix has invented a robot that uses ultrasound and artificial intelligence to automate the current manual lymph node screening process and significantly improves cancer staging accuracy.
We are very happy to support Tenomix through OBIO’s Women in Health Initiative Seed Program! Tenomix is an alumnus of our BDSP™ and HealthMINT™ programs and presented at the OBIO® Investment Summit.
