Toronto not-for-profit health science industry advocate the Ontario Bioscience Innovation Organization (OBIO) is accepting applications for its 2017 OBIO Capital Access Advisory Program (CAAP), the aim of which is to provide high-potential Ontario health science companies with mentoring, strategic guidance and access to a network of health science industry experts and investors to help those companies secure financing.
The deadline for Ontario-based health science companies that are advanced beyond the seed financing stage to apply for OBIO CAAP is December 23.
Interested companies can register to attend an information session, either by teleconference or in-person in the OBIO boardroom at 100 College Street, Suite 215, on November 17, 2016 at 4:00 p.m., followed by a wine and cheese reception.
Launched in 2013, OBIO CAAP is a federally and provincially funded industry-led initiative that aims to advance and accelerate the development and commercialization of therapeutics, diagnostics, medical devices, and health IT products and services to benefit Ontario and global human health.
The Ontario Bioscience Innovation Organization was founded in 2009 to develop and commercialize of Ontario’s human health technologies.
“OBIO CAAP positions Ontario’s industry-leading health science technology ventures for success. To date, CAAP companies have raised more than $60M in funding since entering the program and we look forward to building on this track record of positioning high-potential health science companies for follow-on and scale-up investment,” said OBIO CEO Gail Garland. “OBIO CAAP has become a unique and important part of Ontario’s health science industry ecosystem and we look forward to continuing to support the growth and success of Ontario companies.”
OBIO CAAP is funded by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
OBIO CAAP operates downstream from other programs, aiming to provide access to capital for Ontario-based health science companies that are beyond the seed-stage of financing.
“Oversubscribed since its inception, OBIO CAAP provides Ontario health science companies with advice and guidance from experienced entrepreneurs and investors. This has enabled attracting financial and human capital, building businesses with a global reach, and future economic growth,” said Brian Underdown, Venture Partner, Lumira Capital and Chair, OBIO CAAP Steering Committee. “There is no doubt that OBIO CAAP will continue its high impact path of enabling and accelerating growth of Ontario’s best health science companies by focusing on access to capital.”
The goal of OBIO is to advocate, promote and provide strategic leadership to develop an integrated health innovation economy in Ontario, through the development of a commercial bioscience cluster in Ontario and Canada and to make Ontario a leader in providing health technology to the international marketplace via collaborative partnerships with industry, academia, patients and government, resulting in improved patient outcomes, and increased health care efficiency.
Eligible companies are developing health science products or services, including but not limited to therapeutics, medical devices, diagnostics, or healthcare information technologies, which have already raised initial capital and are committed to raising a subsequent major round in the next 12 to 18 months.
Companies that are still at the seed capital stage can apply to OBIO’s Pre-CAAP program, which helps them prepare for CAAP and increase their investability.