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.
December 4, 2017
OICR launches groundbreaking Cancer Therapeutics Innovation Pipeline to drive cutting-edge therapies to the clinic
Ten new projects were selected in the pipeline’s inaugural funding round, highlighting Ontario’s strengths in collaboration and drug discovery.
Toronto (December 4, 2017) – The Ontario Institute for Cancer Research (OICR) today announced the Cancer Therapeutics Innovation Pipeline (CTIP) initiative and the first 10 projects selected in CTIP’s inaugural round of funding. CTIP aims to support the local translation of Ontario discoveries into therapies with the potential for improving the lives of cancer patients. The funding will create a new pipeline of promising drugs in development, and attract the partnerships and investment to the province necessary for further clinical development and testing.
“Ontario congratulates OICR on this innovative approach to driving the development of new cancer therapies,” says Reza Moridi, Ontario’s Minister of Research, Innovation and Science. “The Cancer Therapeutics Innovation Pipeline will help ensure that promising discoveries get the support they need to move from lab bench to commercialization, and get to patients faster.”
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.
October 4, 2017
Addition of new investors builds on Ontario’s next-gen radiotherapies and cancer innovations
September 29, 2017
We are pleased to share the Ontario Institute for Cancer Research (OICR) Annual Report for 2016/17.
We are living in an era of unprecedented innovation in cancer research. Recent advances have helped us to better understand cancer and allowed for collaboration on a scale that was previously not possible. This work is happening now and it is happening right here in Ontario.
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.