Entrevestor: Coloursmith Closes $600K Round

Read the full Entrevestor article here

Contact lens technology startup Coloursmith Labs has raised $600,000 in seed funding and announced the first two members of its board of directors.

Founded in 2018 by Dalhousie University researcher Gabrielle Masone, the Halifax-based company is developing technology that aims to allow contact lenses to filter certain types of light before it reaches the eyes.

The two board members are Wade Dawe and Rhiannon Davies. Dawe is the president of Brigus Capital, and Davies is a former vice-president and board member of Dutch optometry retailer GrandVision,

“Wade’s dedication to the company all this time has been nothing short of perfect,” said Masone in an interview. “And Rhiannon has a real finger on the pulse of the contact lens industry, and the eyewear industry in general.”

Masone, who Dawe describes as a “true innovator”, met both board members while completing Creative Destruction Labs’ accelerator program in the past year.

Coloursmith’s product works by using “optical filters” to control which types of light pass through contact lenses. This determines what wavelengths the wearer sees.

The technology aims to help reduce the effects of colour blindness and guard against the negative health effects of excessive blue light exposure. Blue light is the light given off by computer monitors, for example.

About one out of every 12 men and one in 200 women with Northern European ancestry suffers from colour blindness, according to the United States government’s National Eye Institute.

The science on whether or not blue light from digital devices harms the eye is not settled yet, according to the American Academy of Ophthalmology. But Harvard Health warns that it does cause sleep disruptions, and may contribute to obesity and other diseases.

Coloursmith is also considering other applications for the optical filters, including treating migraines and light sensitivity.

The company previously raised $200,000 from startup pitch competitions, such as Innovacorp’s Spark Innovation Challenge and the Volta Cohort Competition, as well as other programs that support early stage businesses.

Masone used the money to build a prototype and file patent applications in all major, global markets for contact lenses.

The latest $600,000 has been provided by investors that include St. John’s-based Killick Capital, PEI’s Island Capital Partners and Dawe’s Brigus Capital.

 

BioNova Announces Picomole as the Winner of the Eighth Annual BioInnovation Challenge (BIC) at BioPort 2018

Halifax, NS – November 8, 2018 – Today Picomole from Moncton, New Brunswick was named the winner of BioNova’s eighth annual BioInnovation Challenge (BIC) business pitch competition at BioPort 2018. Picomole is an innovative medical technology company with the goal of developing their patented and patent-pending technologies for breath analytics into the standard of care for non-invasive clinical diagnostics and personalized medicine. Stephen Graham of Picomole said, “This experience has been invaluable. The mentorship and training we’ve received through this process has helped take Picomole to the next level, and we know the funding and the advisory services will help to elevate us even more.” Atlantic Canada’s best health and life science innovators participate in the BioInnovation Challenge (BIC) business pitch competition each year. The competition’s goal is to help ease the transition from research laboratory to market. Picomole will receive a prize package that includes $25,000 in seed funding and an advisory services package worth more than $30,000. Picomole was up against Matthew Kay, CEO ofTalem Health Analytics and Gabrielle Masone, CEO of Coloursmith Labs. “Our panel of judges had a difficult time selecting a winner because all seven finalists have what it takes to make their start up a success,” said Scott Moffitt, Executive Director of BioNova. “Congratulations to Picomole.” The Judging Panel:  Jennifer Hamilton, Senior Director, New Ventures (Canada), Johnson & Johnson Innovation Gerry Lacroix, Technology Sector Leader – Nova Scotia, Grant Thornton LLP John Holyoake, Managing Director, Investment Banking, Bloom Burton & Co. -30- Contact: Shana Cristoferi, Marketing Manager, BioNova Mobile: (902) 830-9193 scristoferi@bionova.ca About BioNova BioNova leads, accelerates, and advocates for Nova Scotia’s growing health and life sciences sector. Since 1993, BioNova has been accelerating the growth of its member companies. By hosting networking and educational events, and providing connections to potential funders and business resources, BioNova helps companies succeed.  While these companies commercialize life-changing research to improve healthcare, provide healthier food, and develop sustainable solutions, BioNova advocates on behalf of the sector. BioNova champions the sector’s cluster of world-class research facilities, incubator programs, and companies who, together, bring investment and jobs to Nova Scotia.  www.bionova.ca About BioPort 2018 The 17th annual BioPort conference will take place at the Halifax Convention Centre on November 7-8, 2018. BioPort provides a forum to educate, inform and inspire the health and life sciences community to develop their ideas, commercialize their technologies and build links within the region and with guests brought in from the U.S. and from around the world.  www.bioportatlantic.ca]]>

BioNova Names 2018 BioInnovation Challenge (BIC) Semi-Finalists

NEWS RELEASE FOR IMMEDIATE RELEASE BioNova Names 2018 BioInnovation Challenge (BIC) Semi-Finalists August 29, 2018 – Halifax, Nova Scotia – Eight (8) semi-finalists have been chosen to compete in the BioInnovation Challenge (BIC), BioNova’s regional health and life sciences business competition, which will be held in Halifax on November 7th during BioPort 2018 at the Halifax Convention Centre. BIC is one of the longest running business competitions in the region with over 50 companies having gone through the program since 2011. The competition has supported the growth and innovation of past winners such as New Brunswick-based Pfera Inc., along with Spring Loaded Technology, ABK BioMedical and Covina Biomedical from Nova Scotia. “A strong and vibrant economy in our region requires continuous innovation and BIC has become a key program to support that,” said Scott Moffitt, Managing Director of BioNova. “Many of the companies coming out of the program have gone on to raise millions to grow and scale.” This year’s semi-finalists will receive significant training to be positioned for business growth, including sessions with expert pitch training coach Linda Plano, who has over ten years of experience mentoring entrepreneurs with start-ups in life sciences. This year’s winner will receive $25,000 in funding to develop their business idea as well as a package of support services and mentoring valued at more than $30,000. Read more about the eight (8) semi-finalists below: Coloursmith Labs – Direct-to-consumer contact lenses that work as the world’s first practical solution to colour blindness. Unified Health – New models designed to ease the strain on the emergency system while reducing healthcare costs and bringing better patient outcomes. Talem Health Analytics – Software for healthcare professionals to track, analyze and predict treatment regimens for people in motor vehicle accidents. Picomole – A painless, accurate, and versatile diagnostic breath test to detect early stage lung cancer. BioHuntress – A natural treatment for blood cancer that brings a better patient experience. Neuro Amel Technologies – A frameless, automated brace that uses electrical stimulation to improve mobility for stroke patients. Macro Movements – Software that gives feedback on movement to prevent injury. 3F Waste Recovery – Turns waste problems in the fishery, farming and forestry industries into profitable solutions. BIC 2018 is presented by BioNova in partnership with the Atlantic Canada Opportunities Agency, BioNB, Emergence, DalhousieUniversity Industry Liaison and Innovation, Springboard Atlantic, Jennifer Cameron PR, PWC, Cox & Palmer, Bereskin & Parr, Archway Insurance, and Grant Thornton. BIC 2018 will take place over two days in November. The eight (8) semi-finalists will present to a panel of judges and the conference audience at BioPort, BioNova’s annual conference, on November 7th. The top three presenters will then pitch the following morning.  The winner will be announced at the close of BioPort 2018 on the afternoon of November 8th. About BioNova: BioNova leads, accelerates, and advocates for Nova Scotia’s growing health and life sciences sector. Since 1993, BioNova has been accelerating the growth of its member companies. By hosting networking and educational events, and providing connections to potential funders and business resources, BioNova helps companies succeed.  While these companies commercialize life-changing research to improve healthcare, provide healthier food, and develop sustainable solutions, BioNova advocates on behalf of the sector. BioNova champions the sector’s cluster of world-class research facilities, incubator programs, and companies who, together, bring investment and jobs to Nova Scotia. About BioPort 2018: BioPort 2018 will take place at the Halifax Convention Centre on November 7 and 8. BioPort provides a forum to educate, inform and inspire the health and life sciences community to develop their ideas, commercialize their technologies and build links within the region and with guests brought in from the U.S. and from around the world. -30- For further information, media may contact: Shana Cristoferi Marketing Manager, BioNova 902-421-5705 scristoferi@bionova.ca Click here to download the BIC, BioPort, and BioNova Logos.
 
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