Ontario Bioscience Innovation Organization Provides Opportunity for iBIONICS to Access Investment
iBIONICS and their groundbreaking Diamond Eye project continue to gather accolades and honours. Most recently, iBIONICS was selected as one of 10 high potential early stage bioscience startup companies to participate in the 2017 Capital Access Advisory Program (CAAP®) of Ontario Bioscience Innovation Organization (OBIO). Selection into this program, now in its 5th year, is further evidence that the iBIONICS’ effort to restore partial sight is one of the bright lights in Ontario’s bioscience startup community.
This year’s chosen participants will work with OBIO and an impressive network of expert advisors to address key goals and objectives which will position them for successful financing going forward. Past OBIO CAAP companies are currently advancing the development and commercialization of therapeutics, medical devices and health IT products and services to benefit the people of Ontario and beyond. This startup resource can help make a real difference in the lives of many.
“The CAAP program will help us leverage expertise to further develop market and reimbursement strategies, while accelerating our fundraising. The Diamond Eye project has progressed smoothly through the early startup phase and has picked up momentum over recent months,” says Suzanne Grant, CEO and Cofounder of iBIONICS. “With OBIO CAAP support, we plan to expand valuable relationships with laser focus. Every day we get closer to bringing our solution for blindness to the people who need it.”
“OBIO CAAP is a unique program that enables health science companies to execute on their strategic business goals, accelerate business development and attract the necessary capital, ultimately driving fundraising success,” says Gail Garland, CEO, OBIO. “We are excited to welcome iBIONICS into the OBIO CAAP 2017 cohort and the OBIO community. Our goal is to further the commercialization of Ontario’s human health technologies and we are pleased to work with iBIONICS on their journey to bring the Diamond Eye to market.”
2016 national winners of the Startup Canada Innovation Award and the Creative Business Cup, iBIONICS is an early stage life sciences company specializing in wireless nano-implants and neuromodulation.
iBIONICS’ inaugural solution, The Diamond Eye™, is designed to deliver artificial vision so a man who sees darkness can again see his wife’s face, and a playing child can be seen by her grandmother. By 2020, 200 million people worldwide will be living with degenerative retinal diseases, age-related macular degeneration and retinitus pigmentosa, leading causes of blindness. The cost of AMD in Europe and North America alone is $56 billion per annum.
The Diamond Eye core technology was inspired by Cochlear, the $US10B global company that has helped over 450,000 deaf people to hear. Professor Steven Prawer, world-renowned materials scientist and Cofounder of iBIONICS, invented a new innovative way of approaching implants. This unique nanotechnology is packaged in diamond electrodes that stimulates neural tissue.
Neural technology and electric medicine have attracted interest of Silicon Valley super entrepreneurs such as Elon Musk and Mark Zuckerburg. Retinal implants are the fastest growing vertical in electric medicine today.
This born-global startup is headquartered in Ottawa-Gatineau with medical operations in Montreal and an R&D subsidiary in Melbourne, Australia. They are current residents at Cambridge Innovation Center, in the US as part of a life-science accelerator operated by the Canadian Trade Commissioner Service.
The OBIO Capital Access Advisory Program (CAAP®) is an intensive goal driven program of coaching and targeted advisor and investor introductions. The program drives fundraising success for health science companies looking to raise post-seed funding and operates downstream from existing entrepreneurship programs. It is a collaborative initiative between OBIO, industry and investors. CAAP harnesses the expertise and engagement from the Ontario health science community and investors from across Canada and the U.S. to accelerate growth of this important Ontario industry sector.
The Ontario Bioscience Innovation Organization (OBIO®) founded in 2009, is a not-for-profit, membership-based organization engaged in strategy, programming, policy development and advocacy to further the commercialization of Ontario’s human health technologies positioning Ontario 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.
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