News Release: Semi-Finalists Chosen for BioInnovation Challenge

Semi-Finalists Chosen for BioInnovation Challenge

Halifax, NS – August 28, 2017 The semi-finalists have been chosen for the 2017 edition of The BioInnovation Challenge (BIC). Scott Moffitt, Managing Director of BioNova, the host of BIC, announced today that the semi-finalists who will take part in the program have been selected. The semi-finalists will receive professional pitch training between now and the semi-final run off, which will be held in Halifax on October 17. The program is part of a regional collaboration between BioNova, BioNB and PEI BioAlliance, its sister organizations in NB and PEI. The program allows up and coming life sciences companies to compete in the challenge and kick start their success. “We’re very excited about this year’s BioInnovation Challenge,” said Moffitt. “We have a number of brand new semi-finalists which shows that, year over year, this region is producing great life science ideas and great innovators.” Moffitt also notes that, “we are continuing to see exciting, new innovations as the BioInnovation Challenge evolves to offer more and more support for early stage companies.” The semi-finalists are: • Tieös Pharmaceuticals Inc. from New Brunswick • Neck Tronics Inc. from Nova Scotia • iPSNP Computing Inc. from New Brunswick • Heterogeneous Nanosystems Ltd. from Nova Scotia • Zecken Laboratories from New Brunswick • ADDtext Inc. from Nova Scotia • Pfera Inc. from New Brunswick • Canuevo Biotech Inc. from New Brunswick The winner of the BioInnovation Challenge will receive a $15,000 seed investment and a package of support services and mentoring valued at more than $30,000. The 2017 BIC is presented by BioNova in partnership with the Atlantic Canada Opportunities Agency, BioNB, Emergence, Dalhousie University Industry Liaison and Innovation, Springboard Atlantic, Jennifer Cameron PR, JLT, Sandler Training and Grant Thornton. BIC will take place over two days in October. The 8 semi-finalists will present to a panel of judges on October 17 at the Life Sciences Research Institute. The top three presenters will then pitch to the judges and the conference audience at BioPort Atlantic, BioNova’s annual conference, the following morning. The winner will be announced at the close of BioPort Atlantic on the afternoon of October 18. BioPort Atlantic will take place at the Halifax Marriott Harbourfront Hotel on October 17 and 18. BioPort provides a forum to educate, inform and inspire the life sciences community to develop their ideas, commercialize their technologies and build links within the region and with guests brought in from the US and from around the world. About BioNova: BioNova is the industry association leading the advancement of the life sciences sector in Nova Scotia. BioNova leads and supports its members as we build a successful, self-sustaining life sciences industry in Nova Scotia. By promoting the industry and its successes, building relationships both inside and outside the province and creating networking and educational opportunities. BioNova aims to accelerate the commercialization success of Nova Scotia’s life sciences businesses and organizations. -30- For further information, media may contact: Kerri Mannette Program Manager, BioNova 902-421-5705 ext. 4 kmannette@bionova.ca]]>

ENTREVESTOR: Chiropractor strengthens necks

See original story here Bill Smith believes he’s developing the best product available for strengthening neck muscles, and that it will be even better thanks to a deal he just signed with SimWave Consulting of Kanata, Ont. Smith is a Bridgewater chiropractor who has used his professional knowledge to develop Neck Tronics, whose product helps athletes and people recovering from injury to strengthen the neck. Last month, he announced that Neck Tronics has formed a partnership with SimWave Consulting, a specialist in augmented reality and virtual reality. The idea is that the new product — which will go through human trials in the two months — will help strengthen the neck, and the AR-VR component will help the user use the product and understand its benefits. “We’re developing a product for strengthening the neck,” said Smith in a phone interview last week. “There are a lot of products out there to strengthen the neck but . . . we believe that we have the best product that’s out there.” Smith said the Neck Tronics product is attacking a huge market because there are so many people suffering from whiplash or concussion. Studies have shown that athletes reduce the risk of concussion if they strengthen their neck muscles, so Neck Tronics is developing a preventive tool to help avoid one of the blackest marks against modern sports — the risk of head trauma. Whiplash and concussions cause physical pain for individuals and families, and massive pain for the economy, said Smith. Adding in lost productivity, the cost of rehabilitation and other factors, he said, whiplash costs the economy $25 billion to $40 billion a year in the U.S. and Canada, and with concussions the figure is closer to $60 billion. The Neck Tronics device will help sports trainers, coaches and athletes assess the strength of an individual’s neck and then work to bolster the muscles between the shoulders and skull. And for people with injuries, it will help with the rehabilitation process. Smith, who came up with the idea about three-and-a-half years ago, said there is a huge benefit to having a visual component in the product, and that is why he partnered with SimWave. “At SimWave, we have been working on the forefront of VR/AR technology since 2013 and have seen many new and interesting implementations of the technology across a multitude of industries,” said SimWave CFO Adam Caitness in a statement. “We are proud to be able to collaborate our efforts in the AR/VR field with a medical provider to create a new and exciting product that is much needed.” Smith has received some grant money and is now raising equity to finance the growth of Neck Tronics. He’s raised about $200,000 in a round he hopes will reach $550,000 soon. He plans to take the product to market as a strength device for athletes and has already had interest from rugby organizers, as well as those in hockey and football. Introducing Neck Tronics as a product for athletes will avoid the lengthy regulatory process associated with medical devices, so it could be on the market in November. Meanwhile, the company is also applying to have Neck Tronics approved as a Class II medical rehabilitation product with the Food and Drug Administration in the U.S. and Health Canada. If successful, Smith hopes to have the product in rehab centres by the third quarter of 2018.]]>