Fusion Pharmaceuticals to be acquired by AstraZeneca, accelerating development of next-generation radioconjugates to treat cancer

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 and Chime Biologics join forces to advance novel anti-CCR8 antibody for cancer immunotherapy

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 achieves FDA clearance for Gynethotics™ Pessaries, pioneering the future of personalized pelvic care

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.

Tenomix secures an all-Canadian oversubscribed Seed round of $2M to advance a breakthrough cancer care robotics system

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.

Canadian technology that could transform how we treat cancer

Read this article, published in the Toronto Star, about Montreal-based start-up Jenthera Therapeutics who are developing in vivo gene editing that can directly modify a person’s DNA and fine tune immune cells to find and attack specific types of cancer.

Jenthera presented at the OBIO® Investment Summit.

HDAX among ten exciting U of T-affiliated start-ups to keep an eye on in 2024

This Entrepreneurship Week, University of Toronto Entrepreneurship is highlighting U of T-affiliated start-ups to keep an eye on in 2024.

HDAX Therapeutics, co-founded by alumnae Pimyupa Manaswiyoungkul and Nabanita Nawar, is looking to tackle the problem with a preventative drug that has delivered promising results in pre-clinical studies.

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

More recognition for OBIO® member Vena Medical

Read this article, published in The Logic, profiling Vena Medical’s journey of making a breakthrough innovation that sends cameras into human brains. The physicians at The Ottawa Hospital (TOH) were the first in the world to use new stroke technology, the Vena MicroAngioscope™, in a patient procedure. Equipped with the world’s smallest camera, the device goes inside veins and arteries, allowing physicians to see inside the blood vessels of the patient’s brain. 

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

MIMOSA Diagnostics receives Health Canada approval

MIMOSA Diagnostics, a medical equipment manufacturing company who is making a medical device for non-invasively assessing tissue damage, has received Health Canada approval six months after it launched its technology in the U.S. The sign-off paves the way for the company to sell its MIMOSA Pro device north of the border, following comments last year by CEO Dr. Karen Cross that pursuing American approval first would ease the Canadian compliance process because the two systems have similar requirements.

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

Mediphage Bioceuticals closes Seed round financing

Mediphage Bioceuticals, a biotechnology company driving the next generation of genetic medicines, recently announced closing of its Seed financing round. A mix of early Mediphage supporters, including CCRM Enterprises Holdings Ltd, Riverine Ventures, and Bio Med Ventures, as well as new investors participated in the syndicate. The investment will drive the company’s internal therapeutic and manufacturing programs, while enabling Mediphage to continue supporting its growing number of external collaborations with pharmaceutical and biotechnology companies, CDMOs, and national research organizations.

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

KA Imaging to present on Portable Dual-Energy Tomosynthesis at ECR 2024

KA Imaging’s Team Lead for Spectral Imaging, Steven Tilley, will be presenting at the upcoming European Congress of Radiology (ECR). The study titled “Dual-Energy Tomosynthesis of the Chest using a Triple Layer X-ray Detector”, which yielded promising results, will be part of a Research Presentation Session.

KA Imaging will also be part of the technical exhibition, showcasing the Reveal 35C detector (CE Marked), as well as mobile solutions. The company can be found at Expo X2 (Lower Level), booth #226. The Congress will be held in Vienna from February 28 to March 3.

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

Eurofins CDMO Alphora announces the completion of a new pilot scale biologics development facility

Eurofins CDMO Alphora Inc., a contract drug and manufacturing organization based in Mississauga, recently announced the successful completion of its state-of-the-art 3,300 square feet pilot-scale Biologics development facility in Mississauga. Specializing in monoclonal antibodies (mAbs) and mammalian-based therapeutic proteins, the facility offers comprehensive services in upstream processing, downstream development, process design, GMP QC testing, with up to 200 L scale for Pre-Clinical and Phase I Supply. Additionally, the facility supports fully integrated conjugation services for antibody drug conjugate (ADC) candidate development, leveraging its extensive experience in active pharmaceutical ingredients (API) and highly potent active pharmaceutical ingredients (HPAPI).

We are pleased to count Eurofins CDMO Alphora as an OBIO® member, and also as a sponsor of the 2024 OBIO® Investment Summit.

The Ottawa Hospital is the first in the world to use Vena Medical’s breakthrough stroke technology

The physicians at The Ottawa Hospital (TOH) were the first in the world to use new stroke technology, the Vena MicroAngioscope™, in a patient procedure. Equipped with the world’s smallest camera, the device goes inside veins and arteries, allowing physicians to see inside the blood vessels of the patient’s brain. The use of the MicroAngioscope™ marks a significant development in the field of neurovascular care and will pave the way for new, innovative treatments for patients across the region. 

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

Virica expands bioprocessing capabilities with Carleton University partnership

Virica Biotech Inc., a leading developer of cell enhancers for scaling of viral vectors and cell and gene therapies, is expanding bioprocessing services through a strategic partnership with Carleton University. Slated to open this spring, Virica’s new facility at the university multiplies the company’s capacity to provide high throughput virology services for customers looking to optimize production of their cell and gene therapies.

Virica Biotech is an OBIO® member, an alumnus of our BDSP™ program and recipient of the WiHI Leadership subsidy.

Swift Medical secures new financing round to further enhance its AI-based wound care technology

Swift Medical, a digital health technology company serving wound care providers, recently announced the successful closing of an $US8M round of financing co-led by current investors BDC Capital’s Women in Technology Venture Fund and funds managed by Virgo Investment Group. Swift utilizes artificial intelligence to improve clinical and economic outcomes in chronic and acute wound care, and this financing will accelerate its pace of technology enhancements.

Swift Medical is an OBIO® member and an alumnus of our BDSP™ and CAAP® programs.

Eurofins CDMO Alphora announces the completion of a new pilot scale biologics development facility

Eurofins CDMO Alphora Inc., a contract drug and manufacturing organization based in Mississauga, recently announced the successful completion of its pilot-scale biologics development facility. Spanning 3,300 square feet, the facility is dedicated to the development and scaling of monoclonal antibodies (mAbs) and other mammalian-based therapeutic proteins.

We are pleased to count Eurofins CDMO Alphora as an OBIO® member, and also as a sponsor of the OBIO® Investment Summit happening this month.

Cohesys awarded $1.62M from MTEC to support BoneTape, a revolutionary fracture fixation technology

Cohesys, an innovative medical device company focused on novel solutions for fracture treatment, has been selected for a $1.62M award by the Medical Technology Enterprise Consortium (MTEC) in collaboration with the Department of Defense (DoD) U.S. Army Medical Research and Development Command (USAMRDC). This award will advance development and clinical validation for BoneTape, a revolutionary resorbable bone fixation device designed to improve fracture treatment.

Cohesys is an OBIO® member and an alumnus of our BDSP™, CAAP® and H2BB™ programs.

AI-Driven Clinical Trial Pre-Screening by K2 Medical Research, Magruder Eye Institute and RetiSpec

K2 Medical Research, a leading clinical research organization committed to advancing medical science, has partnered with the renowned Magruder Eye Institute and Toronto-based medical AI company, RetiSpec, to redefine Alzheimer’s research through AI-driven technology. The partnership aims to leverage advanced artificial intelligence (AI) technology as a pre-screening tool for clinical trials, with the objective of enhancing trial accessibility and reducing the time associated with recruitment of eligible candidates. The collaboration aims to utilize RetiSpec’s AI technology as a pre-screening tool at Magruder Eye Institute.

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

FluidAI Medical announces a $25M manufacturing investment in Ontario

FluidAI Medical has developed an AI-powered monitor that detects post-operative gastrointestinal leaks, preventing complications that can arise from their late detection. The company’s investment will be used to research product improvements, build an automated assembly line to meet growing international demand and will create 38 jobs. In support of FluidAI’s investment, Ontario is providing over $1.4M in funding through the Advanced Manufacturing and Innovation Competitiveness stream of the Regional Development Program.

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

KA Imaging’s Premium Dual-Energy Mobile System now available for sale in the U.S.

FluidAI Medical has developed an AI-powered monitor that detects post-operative gastrointestinal leaks, preventing complications that can arise from their late detection. The company’s investment will be used to research product improvements and build an automated assembly line to meet growing international demand and will create 38 jobs. In support of FluidAI’s investment, Ontario is providing over $1.4 million in funding through the Advanced Manufacturing and Innovation Competitiveness stream of the Regional Development Program.

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

XPAN secures FDA 510(k) clearance and announces successful completion of initial human clinical cases in the U.S.

Xpan Inc., a medical device company focused on minimally invasive surgical innovation, secured FDA 510(k) clearance on the XpanTM Universal Trocar System – a device that can be tailored by surgeons during laparoscopic procedure, reducing complications and improving quality of care for patients.

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