April 9, 2019
Entrepreneurs from Ontario’s Nanology Labs and Xpan Inc. receive FACIT investment for early-stage cancer innovations
Latest recipients slated to accelerate Ontario’s commercialization momentum are a 2018 finalist and 2019’s winner of FACIT’s Falcons’ Fortunes pitch competition
TORONTO, ON (April 8, 2019) – FACIT, an Ontario First business accelerator and investor for oncology innovations, is pleased to announce recent successes in its mission to help bridge the capital gap often experienced by early-stage entrepreneurs. The newest recipient of FACIT’s Prospects Oncology Fund is Nanology Labs, a start-up based out of the University of Toronto.
Nanology has developed an innovative low toxicity MRI contrast agent that circumvents the limitations of other MRI contrast agents currently available. This exciting nanoparticulate system leverages manganese to illuminate early stage tumours, including those in the brain, in a manner that allows clinicians to make better treatment decisions. Concurrently, it produces oxygen molecules in the tumour which enhances therapeutic efficacy of irradiation. “This seed funding is critical in enabling our technology to reach its next inflection point, moving our system closer to the clinic and positioning our company for further investment,” said Dr. Mohammad Ali Amini, CEO and Co-Founder of Nanology. “We were fortunate to have been chosen as a finalist in FACIT’s 2018 pitch competition, which helped to strengthen our subsequent application to the Prospects Fund.”Continue reading – Entrepreneurs from Ontario’s Nanology Labs and Xpan Inc. receive FACIT investment for early-stage cancer innovations
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.
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.