The Doug Ford government is investing $3 million to help six life sciences companies develop and bring to market made-in-Ontario medical innovations and health-care solutions. These companies are the first recipients to receive support from the province’s Life Sciences Innovation Fund (LSIF), a new, early-stage fund that helps companies advance made-in-Ontario solutions and increase Ontario’s competitiveness.
“The first group of LSIF recipients will bring our life sciences sector to new heights, ensuring Ontario remains a global leader in the sector,” said Economic Development Minister Vic Fedeli.
The six life sciences companies receiving $500,000 each are located across the GTA.
Fero International Inc., located in Hamilton, designs and builds modular infrastructure to provide scalable, rapidly deployable, and cost-effective solutions for health-care, remote communities and disaster relief.
KEEP Labs Inc., located in Kitchener, has developed a smart storage device to help patients monitor their dosage of medication.
InventoRR MD, located in Toronto, is developing several products for trauma and general surgery, including the AbClo – a medical device that provides traction to the abdomen to reduce the incidence of failed closure and major complications.
Juniper Genomics, located in Toronto, has developed a proprietary approach that uses whole genome sequencing, bioinformatics and data to give patients and clinicians as much certainty as possible that embryo transfers for IVF will succeed.
MIMOSA Diagnostics Inc., located in Toronto, has developed a medical device that looks below the surface of the skin to detect skin injuries before they are visible to the naked eye.
Gotcare, located in Toronto, has developed technology to connect clients with ideal home care workers based on proximity, specialization, language, and cultural understanding.
The Life Sciences Innovation Fund is part of the government’s life sciences strategy to secure Ontario as a global biomanufacturing and life sciences hub. Over the last two and a half years, the province has attracted over $3 billion in life sciences investments and is now the largest life sciences jurisdiction in Canada.
Companies across the province can apply online for the LSIF to receive up to $500,000 to scale their made-in-Ontario health solutions.
