Organization: Canadian Medical Discoveries Fund

Justin Leushner

Justin Leushner has been appointed CEO of the Centre for Imaging Technology Commercialization (CIMTEC)…

VC industry in crisis, says new CVCA report

A new report from the Canadian Venture Capital and Private Equity Association (CVCA) shows that the Canadian VC industry is in decline. VC investment between 2003 and Q3/08 dropped by 35% compared to the US industry which increased 17% in the same period. “Fund raising is shrinking and the investment pace by Canadian funds is…

ViOptix raises $12M for NRC-developed technology

ViOptix Inc, Fremont CA, has raised $12.2 million in series ‘D’ financing to further commercialize its tissue oximetry technology for reconstructive microsurgery. The funding was provided by Channel Medical Partners, Lincoln Funds International and existing investors Canadian Medical Discoveries Fund and Morningside Technology Ventures Ltd. ViOptix also maintains operations in Toronto (ViOptix Canada) which holds…

Cytochroma Inc raises additional $21 million in VC

Privately held Cytochroma Inc, Markham ON, has received $21 million in venture capital financing to expand the development of potential products for vitamin D deficiency and other diseases related to chronic kidney disease. The latest funding brings the total raised since 2001 to $58 million and follows last year’s acquisition of Madison WI-based Proventiv Therapeutics…

Trillium Therapeutics signs pact with Genentech

Trillium Therapeutics Inc has entered into an agreement with biotech giant Genentech Inc, San Francisco, to develop and commercialize its technology in the area of protein therapeutics. The exact nature of the technology and the terms of the agreement were not disclosed. The agreement will provide privately held Trillium with an upfront payment, research funding…

MDS investment spurs Canadian joint venture

MDS Capital Corp is the lead investor in a $9.2-million financing of ViOptix Inc, a Fremont CA-based developer of optical diffusion imaging and spectroscopy technology for use in plastic, reconstructive and vascular surgery. The financing also involves the creation of a private joint venture company based in Toronto. ViOptix Canada also receives funding from the…

Inimex receives US$4.5 million in venture financing

Vancouver-based Inimex Pharmaceuticals Inc has received US$4.5 million in syndicated financing for the lead optimization and pre-clinical development of the first drug based on its innate immunity technology platform. The investment was made by a financing syndicate led by BDC Venture Capital and including the Canadian Medical Discoveries Fund and Working Opportunity Fund. Inimex’s platform…

New council will steer biotech policy in Ontario

Dale Patterson, executive VP of the Canadian Medical Discoveries Fund, will chair the steering committee of the Biotechnology Council of Ontario, a new organization that will advise the Ontario government on public policy issues facing the biotechnology industry. Administered by the MaRS Discovery District in Toronto, the council is open to all biotech stakeholders, and…

Friesen-Rygiel Prize nominations sought

The Canadian Medical Discoveries Fund is seeking nominations for this year’s Friesen-Rygiel Prize, awarded to a Canadian academic institution with the most outstanding discovery leading to commercialization. The nomination deadline is March 15. FMI: www.cmdf.com….

Cytochroma secures $12-million private financing

Kingston ON-based Cytochroma Inc has closed a $12-million private equity financing to advance its R&D of therapeutics based on cytochrome P450-based metabolism. The Business Development Bank of Canada’s Venture Capital Division is the lead investor, with participation from Novo A/S (Denmark), GeneChem Technologies Venture Fund LP, Canadian Medical Discoveries Fund and Working Ventures Canadian Fund…