March 27, 2019
The winner of last year’s FACIT Falcons’ Fortunes pitch competition is already seeing early success in moving her product to the clinic
The winner will soon meet with U.S. regulators, marking a major step towards commercializing her innovative polymer product, ReFilx™, and bringing it to breast cancer patients.
It took only 10 minutes for a panel of investors and industry experts to recognize that Dr. Soror Sharifpoor and her oncology product – ReFilx™ – were worth supporting. Last spring, she pitched ReFilx™ in the FACIT Falcons’ Fortunes competition and won the top prize – the $50,000 Ernsting Entrepreneurship Award. Almost 12 months later, Sharifpoor and her team at Polumiros Inc. will be meeting with the U.S. Food and Drug Administration (FDA) to officially begin the regulatory submission process – a necessary first step in bringing their product to patients.
ReFilx™ is a polymer designed to fill the breast tissue cavities left in breast cancer patients following a lumpectomy. The polymer dissolves over time, allowing the patient’s cells and tissue to regrow in its space, thus preventing breast tissue defects from forming.
“ReFilx™ could improve the emotional and mental well-being of breast cancer patients,” says Sharifpoor. “In addition to the psychosocial benefits, it could also encourage surgeons to take more aggressive margins around the tumour, thereby reducing the chances of cancer recurrence.”
Bringing ReFilx™ to the clinic requires rigorous clinical testing and regulatory review, which begins with a pre-submission meeting with the FDA. FACIT’s support allowed Sharifpoor to continue with pre-clinical testing, hire a regulatory consultant and further develop ReFilx™ into an injectable form.
In a few months, Sharifpoor and her team will have the pre-submission meeting to collect feedback on their product, which will then be used to guide their future submission to the FDA and their plans for further clinical research. Polumiros Inc. intends to pursue this research in Canada.
“We’re excited to initiate our regulatory submission process,” says Sharifpoor. “We’re fortunate to have had FACIT’s support, allowing us to develop ReFilx™ faster and smarter than we would have on our own.”
FACIT, OICR’s strategic partner in commercialization, is hosting its 6th annual pitch competition this year on April 4, 2019. The Falcons’ Fortunes event will feature six aspiring entrepreneurs from across the province who are developing oncology-related innovations. FACIT runs the annual competition as part of its broader mandate to support translation of cancer research to benefit Ontario’s economy and patients worldwide.
Learn more about Falcons’ Fortunes – FACIT’s annual pitch competition or read about this year’s event details.
June 27, 2018
World-leading genomics cloud computing group builds clinical tool for cancer care in Ontario
TORONTO, ON (June 27, 2018) – Ziliomics Inc., a start-up created by FACIT, received seed financing from the Prospects Oncology Fund. Derived from a leading oncology bio-computing group and leveraging insights from the world’s largest cancer genomics projects, Ziliomics develops web-based, modular software platforms that help physicians make actionable treatment decisions for patients living with cancer. Together with FACIT’s interim executive management model, the capital advances the development of Heliotrope, Ziliomics’ lead software product, and positions the company for corporate partnerships and additional financing. Financing terms were not disclosed.
June 13, 2018
Entrepreneur adds US oncology management experience to Ontario commercialization
TORONTO, ON (June 13, 2018) — The Board of Trustees announced the appointment of David O’Neill as the President of FACIT. Dr O’Neill joined FACIT in 2013 as Vice President, Business Development, bringing cancer drug development expertise as well as an extensive business network in pharma and biotech. As Acting President for the last year, he has elevated the profile of the organization and enabled FACIT to continue to deliver critical commercialization financing to innovative start-ups in the growing Ontario market.
April 12, 2018
Biotechnology competition modeled after popular TV program Dragons’ Den
TORONTO, ON (April 12, 2018) – A panel of investor-judges has selected Ontario-based oncology researcher Soror Sharifpoor of Polumiros Inc. as the winner of the 2018 FACIT Falcons’ Fortunes competition. The $50,000 award is intended to support further development of their innovative cancer research. FACIT runs the annual competition as part of its broader mandate to support translating research into Ontario companies to impact the lives of patients with cancer.
Now in its fifth year, the FACIT Falcons’ Fortunes competition is open to any Ontario-based oncology researcher (academics, research institutions, research hospitals and start-ups). Entrepreneurial scientists are invited to pitch innovative research ideas to a panel of four investors in a competition that is modeled after the popular CBC television program Dragons’ Den. The winners receive the $50,000 “Ernsting Entrepreneurship Award.” After follow-up technical evaluation of the underlying innovation, the money funds product development for one year.
February 21, 2018
Investment supports emerging entrepreneurial scientists and critical proof-of-principle studies
TORONTO, ON (February 20, 2018) – FACIT, a business accelerator, announced four new recipients of funding through its Prospects oncology investment competition: Dalriada Therapeutics Inc. (“Dalriada”), 16-Bit Inc. (“16-Bit”), a cancer biomarker study at the Ontario Institute for Cancer Research (“OICR”), and a virus-based therapeutic under development at the Ottawa Hospital and the University of Ottawa. FACIT’s investments are imperative in bridging the capital gap often experienced by early-stage Ontario companies, helping corporations establish jobs and build roots in the province. The wide ranging scope of the innovations, which span therapeutics, machine learning and biomarker development, reflect the rich talent pool within the Ontario oncology research community.
November 22, 2017
FACIT expands Board to advance mandate to drive Ontario cancer breakthroughs.
TORONTO, ON (November 21, 2017) — FACIT announced the expansion of its Board of Trustees with the appointment of three new members: Mr. Kevin Empey, Dr. Cynthia Goh, and Dr. Shana Kelley. Their collective appointments strengthen FACIT’s leadership team, bringing additional financial, entrepreneurial and biotech industry expertise and networks, as FACIT advances its mandate to help guide and drive breakthrough Ontario oncology innovations. The new members join existing Trustees Mr. Greg Gubitz and Mr. John Morrison. As part of this transition, Dr. Doug Squires is stepping down from his position of Chairman, FACIT Board of Trustees.
August 1, 2017
FACIT launches cross-border campaign to recruit clinical scientists and biotechnology industry executives
Initiative targets expats for growing oncology company portfolio in Ontario
TORONTO, ON (July 18, 2017) — FACIT, which commercializes innovative cancer treatments, has launched a recruitment campaign targeting individuals who possess strong clinical development, commercial and fundraising experience in the technology and life sciences sectors. FACIT is expanding and updating its database of US-based industry advisors for roles ranging from investment diligence to full time management roles in Ontario-based biotech start-ups. While Canadian biotechnology expatriates are the focus of this initiative, FACIT continues to attract worldwide leaders in oncology research to the province, a shared mandate well established by its strategic partner, the Ontario Institute for Cancer Research (OICR).
March 22, 2017
Seed financing of CAD$3.0M positions first-in-class WDR5 cancer therapy for clinical development
TORONTO, March 22, 2017 /CNW/ – FACIT announced a seed stage investment in Propellon Therapeutics (the “Company” or “Propellon”), a start-up created by FACIT focused on developing a portfolio of WDR5-targeted anti-cancer therapeutics. FACIT’s investment, combined with non-dilutive capital, achieves a targeted $3.0M financing for the lead program. The seed funding enables Propellon to accelerate the nomination of a candidate drug and position the Company for financing and/or entering a strategic partnership for clinical trials in patients with haematological cancers.