ENTREVESTOR: Adaptiiv Partners With Italy’s EZB

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Adaptiiv Medical Technologies Inc., the Halifax company that uses 3D printing to improve cancer treatment, has further extended its international reach by partnering with Italian peer Eckert & Ziegler BEBIG, or EZB.

EZB specializes in products used in brachytherapy, which applies radioactive sources directly to or into tumors while sparing the surrounding healthy tissue. For the patient, this means shorter treatment periods, fewer side effects and a faster recovery.

The two companies announced Sunday they will test and align their systems to provide an integrated workflow for cancer centers to create 3D-printed brachytherapy applicators customized to each patient. They believe the collaboration will demonstrate that 3D printing can provide clinically viable solutions that improve treatment and patient care.

“This is a significant milestone for us,” said Adaptiiv CTO Alex Dunphy in the press release.“Collaborating with the team at EZB has allowed us to continue to make significant strides towards improving the standard of care using a patient-specific approach in brachytherapy. The successful alignment of our systems will demonstrate that 3D printing can be used to provide a clinically viable solution in brachytherapy treatment.”

ENTREVESTOR: ABK Raises US$30M VC Round

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Halifax medical device maker ABK Biomedical Inc. has raised a record-setting US$30 million venture capital round, with which it hopes to bring two products to market.

The Series B round is equal to C$40 million, which is the largest venture capital round ever in Atlantic Canada. The record had been held by Fredericton-based cybersecurity outfit Sonrai Security, which closed a US$18.5 million (C$24.6 million) round in late December.

The ABK funding round was co-led by: Cambridge, Mass.-based F-Prime Capital, which is an offshoot of mutual fund giant Fidelity Investments; and Palo Alto, Calif.-based Varian Medical Systems, a maker of medical software. They were attracted to ABK because of the strength of the management team and the potential of its technology – even though the company does not yet have a product in the market.

NEWS RELEASE: Halifax firm improves lives and provides faster results with new technology

Alentic Microscience Inc. commercializes its blood diagnostic device for medical settings March 4, 2019 – Halifax, NS – Atlantic Canada Opportunities Agency Cutting-edge ideas in life sciences are reaching the marketplace faster than ever, providing Canadians with less invasive and more effective treatment options that improve patient outcomes. Determined to provide mobile healthcare solutions that give immediate results, Alentic Microscience Inc. has developed a pocket-sized diagnostic device that can generate test results in under five minutes, from any location, using only a drop of blood from a pinprick. Conceived for medical diagnostics, Alentic’s technology was chosen by the Canadian Space Agency to conduct immunological research in real-time aboard the International Space Station. Alentic is now commercializing its technology to be used in hospitals, clinics, veterinary settings or in the field. The device uses patented technology to analyze a tiny quantity of blood, producing high quality blood test results immediately at patient point-of-care. The device can perform different types of tests rapidly, which will improve patient care, reduce wait times, lower costs and increase healthcare efficiencies. Today, Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced $2,992,162 in Government of Canada support to Alentic Microscience Inc. for the project. This investment builds on commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in the region through the Atlantic Growth Strategy, which supports strategic investments that build on the region’s competitive advantages, including its growing innovation ecosystem and skilled workforce. Quotes: “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 life sciences. With commitment and bold action, Atlantic Canada can be a frontrunner for the country, and the world, in providing quality bio-innovations that attract investment and talent, advance our economic prosperity and provide better healthcare to Canadians.” – The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA “Alentic’s technology is working to transform traditional patient care with shorter wait times for test results. This innovative tool has the potential to improve the lives of thousands of Canadians, particularly those who have health conditions such as heart disease, anemia and immune disorders, for which frequent blood tests are vital to properly manage these illnesses.” – Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax “All of us at Alentic Microscience are deeply grateful to ACOA for their enabling financial support. This contribution will allow us to achieve critical research, development and commercialization milestones on our path to selling Alentic’s revolutionary diagnostic devices in Canada and abroad. The money further allows us to grow our superb team as we approach market entry.” – Alan Fine, CEO, Alentic Microscience Inc. Quick Facts: • Alentic Microscience is receiving a $2,992,162 repayable contribution through ACOA’s Business Development Program (BDP). • The funding will help create six jobs, including a biological engineer, a software developer and an embedded systems engineer, in addition to maintaining 15 jobs, to help with the planning, detailed design, prototype assembly, testing and clinical trials of new devices. • Alentic’s technology is fully operational for specific cellular analyses currently used in medical and veterinary settings. • In collaboration with Honeywell International Inc., Alentic successfully obtained a multi-million dollar contract with the Canadian Space Agency to develop specific diagnostic tests and a device to monitor astronauts’ immune systems in real time, an important task that was previously impossible. • Alentic Microscience Inc. has been granted ten patents in the United States, one in Canada and one in China, with many more patents in progress. • The BDP primarily assists Atlantic Canadian entrepreneurs who want to start a business, increase productivity or improve operations. • The Business Development Program continues to build on the objectives of the Innovation and Skills Plan, a multi-year strategy to create well-paying jobs for the middle class and those working hard to join it. Associated Links:Bio-Analyzer: Instant biomedical results from space to Earth Contacts: Chris Brooks Director, Communications and Outreach Atlantic Canada Opportunities Agency 902-426-9417 / 902-830-3839 (cell) chris.brooks@canada.ca Alan Fine CEO Alentic Microscience Inc. 902-407-0827 / 902-440-3825 afine@alentic.com]]>