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Two Halifax-area medtech companies – Spring Loaded Technology and Densitas – have received a slice of an $11 million equity funding exercise anchored by the Montreal-based health technology organization Medteq.
Medteq, which nurtures Canadian health-technology innovators, issued a statement saying that its $14 million investment fund made its first investments, backing eight companies based in Montreal and Halifax. MEDTEQ invested alongside co-investors including: Anges-Quebec, Anges-Quebec Capital, Innovacorp, Real Ventures and others.
The target companies included Spring Loaded, which makes advanced knee braces, and Densitas, which assesses the density of breast tissue during mammograms. Innovacorp, the Nova Scotia government’s early-stage venture capital agency, was already an existing investor in both companies.
Cablon Medical and Adaptiiv team up to expand the reach of 3D printed medical accessories for radiotherapy
HALIFAX, NS June 7, 2019 – Adaptiiv Medical Technologies Inc. (Adaptiiv) is pleased to announce that Cablon Medical, a leading developer and supplier of radiotherapy hardware and software, will become their latest Alliance Partner offering personalized 3D printed medical accessories in Belgium, The Netherlands, and Luxembourg. Cablon Medical and Adaptiiv will provide clinically viable solutions that focus on improving treatment and patient care.
As an Alliance Partner, Cablon Medical will be distributing Adaptiiv’s software solution to enable 3D printing of patient-specific bolus, for photon and electron radiotherapy treatment, as well as high dose rate (HDR) surface brachytherapy applicators. The Adaptiiv software solution integrates directly with existing treatment planning software, enabling practitioners to design and 3D print a patient-specific bolus or applicator. This innovative technique requires less fabrication time, replaces the need for complex bolus and expensive applicators, and provides an improved treatment and patient experience.
“Adaptiiv’s solution provides our clients with a method to improve the quality and efficiency of care as well as the patient experience,” said Peter Schoor, Vice President, Europe at Cablon Medical. Adaptiiv is the first company to offer a platform that seamlessly integrates into existing treatment workflows and their team has demonstrated the ability to rapidly validate new approaches to treatment that are being used in a clinical setting,” says Schoor.
In 2018, Adaptiiv became the first company in the world to receive US FDA 510(k) clearance and a CE Mark for a 3D printing software solution intended for use in radiation oncology. 3D printed accessories conform to the patient anatomy to improve radiation dose delivery, patients are more comfortable throughout the treatment period, and because the software fully integrates with treatment planning systems, setup and production times are drastically reduced.
“Cablon Medical and Adaptiiv are aligned in our vision of the importance of providing the highest standard of patient care. Our solution represents a step further to enabling patient-specific care by increasing the clinical acceptance and implementation of 3D printing at the point-of-care. To that end, we are excited to partner with Cablon Medical as our partnership provides reach into countries that will play a significant role in our efforts to provide patient-specific solutions to the global radiotherapy market,” says Peter Hickey, CEO of Adaptiiv.
Adaptiiv Medical Technologies Inc. is the definitive software platform to design 3D printed medical accessories for use in radiation oncology. Headquartered in Halifax, Nova Scotia, Canada, Adaptiiv is shaping the future of patient-specific healthcare through innovation and collaboration with industry leaders throughout the world. Adaptiiv has FDA 510(k) clearance, is ISO 13485 certified, has a CE Mark, and TGA (Australia) approval. The company’s solution is currently used in nine countries including Canada, United States, Mexico, Australia, New Zealand, Israel, Hong Kong, Ireland, and England.
About Cablon Medical
Cablon Medical is a supplier of high-quality medical devices, medicines and consumables. In addition, Cablon Medical, develops innovative software and hardware for radiotherapy treatment and software for ultrasound image quality control. The products are sold both in The Netherlands and increasingly abroad.
Adaptiiv Medical Technologies Inc.
+1 (902) 442-9091
Cablon Medical B.V.
Cindy van Loen
+31 33 494 39 64
Adaptiiv Medical Technologies Inc.
Cablon Medical B.V.
Solid State Pharma Inc. to add new equipment, create intellectual property for pharmaceutical, natural health companies.
May 21, 2019 – Halifax, NS – Atlantic Canada Opportunities Agency
Cutting-edge ideas in life sciences help Atlantic Canadian businesses take advantage of emerging opportunities in the pharmaceutical and natural health products sectors, successfully compete in world markets and grow the local economy. Committed to improving drug effectiveness, Solid State Pharma Inc. is helping companies around the world provide faster and more effective drug treatments to patients.
In just five years, the pharmaceutical research company has outgrown its current space and is moving to a new downtown Halifax location, more than tripling its footprint. Solid State Pharma is purchasing state-of-the-art equipment to outfit the laboratory where it will conduct innovative research to produce new intellectual property. Pharmaceutical and natural health care companies will use this research to patent new drugs, extend the patent life of existing drugs, and lower required dosages. Solid State Pharma will decrease costs for its clients, develop new intellectual property to improve the company’s sustainability, add jobs and grow exports around the globe.
Today, Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax, announced a $700,000 Government of Canada contribution to Solid State Pharma Inc. to support its expansion. The announcement was made on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).
Economic growth and the creation of good jobs for Atlantic Canadians require innovation and diversification. Support for this project is one way the Government of Canada is working to help businesses scale-up, increase productivity and participate in the innovation economy. Projects like this also contribute to the Atlantic Growth Strategy outcome of long-term economic prosperity in the region.
“In a time of rapid technological change and global interconnectedness, we have an opportunity to leverage our healthcare innovations to achieve even greater impact through advances in pharmaceutical research. Companies like Solid State Pharma are world leaders in this field. These firms are helping Atlantic Canada provide better healthcare to Canadians and people around the world, while generating regional economic wealth and creating highly skilled jobs.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“The Government of Canada, through the Atlantic Growth Strategy, supports investments in research and initiatives that grow the economy and encourage the commercialization of breakthrough ideas. From its new facility, Solid State Pharma Inc. will continue to conduct cutting-edge research to help optimize drug effectiveness for patients around the world.” – Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax
“Bringing value to the patients, to our community and to our team is the primary driving force at Solid State Pharma. We have had four requests for acquisition by European and Chinese companies but we showed no interest because we want to stay and grow here in Atlantic Canada for many years to come. The ACOA contribution helps us meet our long-term vision, create more highly-paid jobs and increase our export revenue.”
– Dr. Mahmoud Mirmehrabi, Founder and President, Solid State Pharma Inc.
Solid State Pharma Inc. is an early-stage life sciences company that specializes in pharmaceutical research and crystal engineering.
The company partners with many global pharmaceutical companies and earns nearly all of its revenue from out-of-country exports.
When it incorporated in 2014, Solid State Pharma had one employee, founder Dr. Mahmoud Mirmehrabi. The company currently employs 13 full-time staff, two interns and five consultants. It plans to add 25 highly skilled jobs and 15-20 new intern positions over the next five years.
Solid State Pharma is receiving a $700,000 repayable contribution through the Regional Economic Growth through Innovation (REGI) program.
The Business Scale-up and Productivity stream of the REGI program supports businesses at various stages of development, including high-growth firms, to accelerate their growth, help them scale-up and enhance their productivity and competitiveness in both domestic and global markets.
The REGI program continues to build on the objectives of the Government of Canada’s Innovation and Skills Plan.
Director, Communications and Outreach
Atlantic Canada Opportunities Agency
902-426-9417 / 902-830-3839 (cell) email@example.com
Dr. Mahmoud Mirmehrabi President Solid State Pharma Inc.
902-442-4012 ext 1 Mahmoud@solidstatepharma.com