USask’s Vaccine and Infectious Disease Organization receives $30 million from Government of Canada

USask’s Vaccine and Infectious Disease Organization (VIDO) will receive $30 million in construction funding to strengthen Canada’s preparedness for emerging infectious diseases and to become Canada’s Centre for Pandemic Research. This funding for VIDO supports building a new animal housing facility and upgrading key areas to containment level 4 (CL4), the highest level of containment. VIDO has some of the most advanced high-containment research and development capacity in the world, aimed at protecting the health of Canadians and Canada’s agriculture sector. 

VIDO presented at the OBIO® Investment Summit.

Nanostics receives funding from the University of Alberta Innovation Fund to propel adoption of the ClarityDX Prostate test

Nanostics Inc., a precision health company developing diagnostic tests with its ClarityDX® platform technology, recently announced that it received an investment from the University of Alberta Innovation Fund (UAIF) to help propel adoption of Nanostics' ClarityDX® test in North America. The ClarityDX Prostate test, launched in Canada in September 2023, is available to patients from Nanostics' accredited clinical laboratory in Edmonton, Alberta.

This innovative blood test, which uses biological data, clinical information, and machine learning models to generate a risk score for aggressive prostate cancer, marks a significant advancement in prostate cancer screening. It provides critical support to men and their healthcare providers in making more informed decisions about whether additional screening is required following a high prostate-specific antigen (PSA) test result.

Nanostics Precision Health presented at the OBIO® Investment Summit.

Membio's bioreactor technology acquired by ABEC

Membio’s bioreactor technology has been acquired by ABEC, a leading global supplier of stainless steel and single-use integrated solutions and services for biopharmaceutical manufacturing. When brought to market, this technology will give customers a significant advantage in manufacturing their cellular products.

Membio is an alumnus of our BDSP™ and WiHI programs.

KA Imaging's inCiTe 3D X-ray Microscope to support orthopaedic research at the University of Waterloo

X-ray equipment manufacturer KA Imaging has announced the installation of a unit of the inCiTe™ 3D X-ray Microscope at the University of Waterloo. The inCiTe™ 3D X-ray Microscope is the first commercial system that utilizes BrillianSe™, a patented high spatial resolution amorphous selenium (a-Se) detector exclusively developed by KA Imaging Inc.

The new system is installed in the new Orthopaedic Mechatronics Laboratory, co-led by Dr. McLachlin and Dr. Naveen Chandrashekar. It supports interdisciplinary research interests in studying bone and joint tissue mechanics and interfaces at the microstructural level.

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

Front Line Medical Technologies achieves CE marking for transforming aortic occlusion

Front Line Medical Technologies Inc., an innovator in trauma care medical devices, recently announced the attainment of CE marking for its COBRA-OS (Control of Bleeding, Resuscitation, Arterial Occlusion System). This milestone broadens their innovative medical device's market presence.

Front Line Medical is an alumnus of our EAHN™ and WiHI programs.

Forcen closes $8.35 million CAD in funding to develop its touch-tech for robots

Toronto-based robotics sensing company Forcen has closed an $8.35 million CAD funding round as it looks to scale up its prototype production facilities. The all-equity round closed in February and was co-led by Brightspark Ventures and BDC Capital’s Deep Tech Venture Fund with participation from Garage Capital, MaRS IAF, and returning investors including EmergingVC. Forcen will use the investment to support more customers and continue developing its force sensing technology for robots.

Forcen is an alumnus of our CAAP® program.

Morphocell Technologies announces completion of US$40 Million Series A financing

Morphocell Technologies Inc., a Montreal-based biotechnology company in the cell therapy space, recently announced the closure of a US$40 million Series A funding round. The funding is set to fuel the company’s groundbreaking journey towards a first-in-human clinical trial of the first cell therapy issued from its tissue engineering platform, aimed at transforming liver disease treatment globally.

Morphocell Technologies is an alumnus of our CAAP® program and presented at the OBIO® Investment Summit.

Rocket Doctor selected for the inaugural cohort of the Google for Startups Accelerator

Rocket Doctor, a technology-driven digital health platform and marketplace that empowers healthcare providers to break down the barriers that prevent patients from accessing care, has been selected for the inaugural cohort of the Google for Startups Accelerator: AI First North America. The program will provide 10 weeks of hands-on mentorship and technical project support to start-ups using AI in their core service or product. Selected start-ups will collaborate with a cohort of top peer founders and engage with leaders across Google.

Rocket Doctor is an alumnus of our BDSP™ and CAAP® programs, presented at the OBIO® Investment Summit, and is a beneficiary of our Life Sciences Critical Technologies & Commercialization (LSCTC) Centre of Excellence.

HDAX Therapeutics and Noa Therapeutics' CEOs selected among the 2024 Termeer Fellows

The Termeer Fellowship Program recently announced the class of 2024 Termeer Fellows – a group of fifteen visionary leaders who are passionate about transforming patient care through innovations. The fellows will receive leadership programming, mentorship, and access to a network of industry leaders.

 Congratulations to the selected leaders! Shout-out to Nabanita Nawar, CEO and Co-founder, HDAX Therapeutics and Carla Spina, CEO and Co-founder, Noa Therapeutics!

HDAX Therapeutics and Noa Therapeutics are OBIO® members and alumni of our BDSP™ and WiHI programs.

Hyivy Health featured in the Globe and Mail

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.

16Bit receives FDA De Novo marketing authorization for Rho™

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.

DIGITAL and Swift Medical announce pioneering co-investment in AI for enhanced wound care

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 announces a breakthrough therapeutic in the fight against Triple-Negative Breast Cancer

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 featured in the National Post

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 and Titan Medical merge to help ignite widespread adoption of next-generation Novasight Hybrid intravascular imaging platform

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.

Ontario biotech start-ups get government funding and business support

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 secures $20 million USD in Series C funding

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.

Tenomix secures oversubscribed $2.1M, all-Canadian financing round to advance cancer staging

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 secures $500,000 investment boost from the Ontario Centre of Innovation

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 secures pre-Seed financing to transform the treatment of inflammatory disease

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.