Ontario's leading advocate for the life sciences sector
Hyris bCUBE was approved last week, and is the first portable system approved for screening for SARS-CoV-2, the virus that causes COVID-19. Based on research out of the University of Guelph, the technology provides results that are 95 per cent accurate within 90 minutes.
The Texas Life Science Forum is the premier life science event in Texas that brings together members from industry, emerging life science companies, academic, and investors. Thanks to a close collaboration with Rice Alliance, The Canadian Consulate in Houston has secured 5 spots for Canadian companies interested in participating in this event. Applications are due Friday, October 9.
Once you have applied, please also enter your details in the following document: https://drive.google.com/file/d/1qHKSvP98KWWYJXKeIUDOyMWH-pM94ln4/view?usp=sharing
Bridge7 was announced as one of nine startups selected for the inaugural cohort of Canada’s Google for Startups Accelerator. Launched via the U of T Early-Stage Technology program (UTEST), Bridge7 uses AI to accelerate the triaging and treatment of cancer patients.
On September 30, Health Canada regulators approved the Abbott Laboratories ID NOW rapid COVID-19 testing device for use in Canada. Trudeau said the government has earmarked more money for Health Canada to expedite the approvals process for new technologies like these diagnostic devices.
Braze Mobility is part of the inaugural Techstars Future of Longevity Accelerator, which will host companies that are providing innovative and creative solutions to address the unmet needs of individuals providing and receiving elder care. Braze Mobility provides an affordable navigation solution for power wheelchair users.
Focal Healthcare, an innovator of image-guided prostate cancer technology, announced it is receiving advisory services and research and development funding of up to $200,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
Yesterday, the federal government’s Throne Speech featured a number of announcements about new or expanded supports for businesses, amid the broad impact of COVID-19 on the economy.
Central to the speech was the government’s announcement of a campaign to create over one million jobs.
Highlights of that campaign include extending key COVID-19 business support measures like:
Extending the Canada Emergency Wage Subsidy (CEWS) to next summer
Expand Canada Emergency Business Account (CEBA) loan program, which enables financial institutions to issue loans of up to $40,000
Improving the Business Credit Availability Program (BCAP), which lets companies borrow up to $6.5 million, backed by EDC, or up to $12.5 million funded by BDC
More specific information about program details and funding amounts will be announced as part of the fall fiscal update from Finance Minister Chrystia Freeland.
OBIO Members who are subscribers to The Logic can click here for more analysis on the Speech from the Throne.
Startups can earn a chance to receive a pre-seed investment. Each investee (up to 4) will receive at least $50,000. Health tech companies may receive up to $100,000.
John Connolly, VoxNeuro CSO and co-founder and a McMaster University linguistics professor, was featured in a CBC News article on research into assessing brain function in post-COVID patients.
OnCall Health, which provides virtual care software to healthcare providers, has raised a $7.9 million Series A round, bringing the company’s total funding to date to over $10.5 million. OnCall enables healthcare enterprises to rapidly launch their own virtual care platform that is highly configurable to their brand and workflow.
Successfully entering the US market can be a game-changer – but without the right strategy and road map, it can also be incredibly risky and very expensive. With an offer through Global Affairs Canada, Canadian companies can join the University City Science Center’s virtual accelerator to show you how to do it the right way, who to talk to and the pitfalls to avoid. Application deadline: September 28, 2020.
Contact Joshua Dillard from Global Affairs Canada at joshua.dillard@international.gc.ca for more information.
ODS Medical, Inc., a Montreal based medical technology company, announced a new financing round to support product engineering and regulatory work. ODS Medical is bringing together the power of machine learning and molecular imaging to develop optical biopsy tools based on Raman spectroscopy. The amount of funding has not been disclosed.
Virtual health provider Maple Corporation has received a $75 million investment from Loblaw Companies. Maple chief executive Brett Belchetz said his company's valuation with the deal had more than quadrupled since it announced a $14.5 million investment one year ago. Maple is the largest virtual-care provider in Canada.
Funds to pursue development of INV-101 and other promising peripheral CB1 blockers to clinical proof-of-concept, as well as to expand the Company’s operations.
KA Imaging’s portable dual-energy X-ray detector has received 510(k) clearance from the U.S. Food and Drug Administration (FDA). Reveal™ enables bone and soft-tissue differentiation without motion artifacts in a single X-ray exposure.
CIX Canadian Innovation Exchange announced the CIX TOP 20 Early and CIX TOP 10 Growth innovative Canadian technology startups that have been inducted into the annual program. The selected companies represent a diverse range of technology companies spanning software, AI, medtech, fintech, big data, security, SaaS and cleantech sectors.
Triumvira Immunologics announced a $55 million Series A round co-led by Leaps by Bayer, the impact investment unit of Bayer AG, and Northpond Ventures. Additional investors include Oceanpine Capital and Viva Biotech Holdings, and existing investors include Bloom Burton & Co. and the Centre for Commercialization of Cancer Immunotherapy (C3i). Triumvira will use the funding to run clinical trials of cell therapies that are directed by an alternative to CARs.
VoxNeuro CSO, Dr. John Connolly, is featured in a recent CTV News article about the emergence of new neurological COVID-19 symptoms associated with long-haul truckers, including confusion, trouble concentrating and memory loss that persist weeks and even months after their initial sickness. Dr. Connolly is looking at the impact the novel coronavirus can have on brain function.
