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.
October 4, 2017
Addition of new investors builds on Ontario’s next-gen radiotherapies and cancer innovations
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).
August 1, 2017
FACIT invests first round of Prospects Fund in Radialis Medical, KA Imaging, and DNAstack.
TORONTO, ON (July 10, 2017) – FACIT has announced the first three investments under its new Prospects Oncology Fund for proof-of-concept development of breakthrough cancer technologies. Ontario start-ups Radialis Medical of Thunder Bay, KA Imaging of Kitchener, and DNAstack of Toronto are the first to receive capital from this new fund, illustrating the strength and breadth of the cancer research network in the province. FACIT’s strategy is to bridge the gap in capital and expertise often experienced by early stage companies, and better position innovations to reach patients.
March 22, 2017
New evergreen fund to help Ontario discoveries reach seed-stage funding faster
TORONTO, March 21, 2017 /CNW/ – Fight Against Cancer Innovation Trust (“FACIT”) is pleased to announce the launch of The Prospects Oncology Fund (“Prospects Fund”), designed to advance early-stage Ontario cancer discoveries by supporting the proof-of-concept studies needed to attract seed-stage investment. Managed by FACIT, this is an evergreen fund to which capital is allocated annually.
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.
February 23, 2017
Financing leverages and strengthens Ontario’s next-generation radiotherapeutics expertise, products
TORONTO, ON (February 23, 2017) – The Fight Against Cancer Innovation Trust (FACIT) and the Ontario Institute for Cancer Research (OICR) are pleased to report that Fusion Pharmaceuticals Inc. (Fusion) has closed a US$25M Series A financing, with Johnson & Johnson Innovation – JJDC, Inc. (JJDC) as the lead investor. Additional, new investors include venture groups HealthCap, TPG Biotechnology Partners, and Genesys Capital, as well as founding investor FACIT.
November 2, 2016
OrbiMed, Versant-led round continues commercialization success for Turnstone’s cancer therapies
TORONTO, Nov. 2, 2016 /CNW/ – Turnstone Biologics Inc. (“Turnstone”), an Ontario-based developer of novel oncolytic viral immunotherapies, announced the closing of a USD $41.4 million Series B financing led by OrbiMed Advisors LLC (“OrbiMed”) and Versant Ventures (“Versant”), which led Turnstone’s Series A round in October 2015. New investor F-Prime Capital Partners (“F-Prime”) and existing founding investor FACIT also participated. Proceeds from the financing will support an ongoing Phase I/II clinical trial in patients with advanced or metastatic solid tumours as well as accelerate and expand Turnstone’s pipeline, funding the development of three additional programs into the clinic. In connection with the financing Orbimed’s Rishi Gupta, JD and F-Prime’s Ben Auspitz will join Turnstone’s board of directors alongside Versant’s Brad Bolzon, PhD and Jerel Davis, PhD as well as FACIT’s Jeff Courtney.
October 5, 2016
Ontario has some of the finest cancer researchers in the world who are developing new cancer therapies, diagnostic tools and other anti-cancer technologies. When these novel products make their way into clinical use they improve outcomes for cancer patients and reduce the cancer burden on society.
July 4, 2016
(from left to right) John Matheson, Medical Innovation Fellow, Western University, Mohammad Tavallaei, Medical Innovation Fellow, Western University, Jeff Courtney, CCO, FACIT, Nicholas Power Surgeon, London Health Sciences Centre, Asha Parekh Medical Innovation Fellow, Western University
Millions worldwide watch Dragons’ Den and Shark Tank where ambitious entrepreneurs try to convince deep-pocketed investors to provide funding for their innovative ideas. On June 1, 2016, a lucky group of cancer researchers from across Ontario had the opportunity to take part in a similar and perhaps ‘kinder’ pitch competition – the FACIT Falcons’ Fortunes event. The Fight Against Cancer Innovation Trust (FACIT) holds the competition every year to learn about some of the most exciting ideas in oncology research, provide funding for the best pitch, and to enhance, support and celebrate a culture of commercialization within Ontario.