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]]>

ACOA: Covina Biomedical Inc. Solidifying Place in the Bone Cement Industry

Government of Canada supports prototype development, regulatory approvals and research commercialization August 7, 2018 – Halifax, NS – Atlantic Canada Opportunities Agency Great innovation happening here in Atlantic Canada is growing our economy, creating well-paying jobs, and improving the lives of Canadians. That is why the Government of Canada is supporting Covina Biomedical Inc. as it advances a proprietary bone cement used in the repair of knee implants, the single biggest problem in orthopedics today. Andy Fillmore, Parliamentary Secretary for the Minister of Democratic Institutions and Member of Parliament for Halifax, announced a $500,000 repayable investment in Covina Biomedical on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA). The assistance will help Covina Biomedical prove the effectiveness of its injectable bone cement for orthopedic patient care. Customer feedback and validation will prepare the company for clinical trials and develop a roadmap to obtain regulatory approval in Canada and the United States. Together, these initiatives will position Covina to scale-up, creating new economic benefits for Atlantic Canada. Intellectual property for Covina’s injectable bone cement that prevents invasive surgery is the result of an earlier ACOA project with Dalhousie University. The product is being developed and commercialized in Nova Scotia, creating up to six new full-time, highly skilled positions and maintaining two others. This contribution is being made through ACOA’s Business Development Program, which works with small and medium-sized companies to improve competitiveness in export markets. The investment builds on the commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy. The Strategy supports targeted investments in initiatives that build on the region’s competitive advantages, such as its strong export potential and skilled labour to expand business activities between the region and international markets.

 

Quotes

“Covina represents the benefits of collaboration between academia and industry. Commercializing research out of our universities and into the real world where it will help Canadians is one of the markers that will distinguish Canada as a world-leading economy now and for the long-term. This will help to create growing, innovative businesses with global reach, good jobs, and a thriving middle class.” –       The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA 
“It’s very exciting to see the outcome of local research and development result in a product that can be commercialized and exported globally. Covina Biomedical has tremendous potential to assist patients suffering from osteoarthritis or failed knee implants, and to contribute to the local, flourishing life sciences community.” –       Andy Fillmore, Parliamentary Secretary to the Minister of Democratic Institutions and Member of Parliament for Halifax 
“Our company was founded on the passion to improve patient outcomes amidst a growing healthcare crisis of rising costs and wait times, and to do it here, in Atlantic Canada. The continued support of ACOA is helping to make this exciting opportunity possible, by supporting first, the transition of this high-quality research from Dalhousie University, and now, the continued development of our novel technology and growth of our company in the region.” –       Dr. Caitlin Pierlot, CEO, Covina Biomedical Inc.
“The support of ACOA through the AIF program which funded the initial research at Dalhousie was instrumental. As the largest research intensive University in Atlantic Canada, Dal is a knowledge-generating institution and the ideal environment to pursue discoveries. We are proud to have partnered the technology with Covina and look forward to assisting them as they grow as a company. This is a great example of a bold research discovery that will have far reaching patient impact.” –     Stephen Hartlen, Executive Director of Industry Liaison and Innovation and Assistant Vice-President of Industry Relations, Dalhousie University

Quick facts

  • The orthopaedic market is forecasted to exceed $45 billion in the United States by 2021.
  • Knee replacements are the single biggest problem in orthopaedics today with the global market worth over $8.4 billion (USD).
  • Age and BMI are key risk factors in the onset and progression of musculoskeletal conditions of the hip and knee, resulting in significant risk of requiring one or more joint implants in a lifetime. – In 2016, more than 1.9 billion adults were overweight, and of these, 650 million were obese – By 2050, nearly 20 per cent of the global population will be over the age of 65
  • The number of knee joint implants is expected to rise to 185,000 procedures per year in the US by 2025.
  • Average total cost of care of a single knee joint implant procedure in the US was estimated at $100,000 in 2014.

Contacts

Alex Smith Director of Communications & Outreach Atlantic Canada Opportunities Agency Phone: (902-426-9417 | 902-830-3939 (cell) Email: alex.smith@canada.ca Caitlin Pierlot Chief Executive Officer Covina Biomedical Inc. Phone: (902) 442-4014 | 902-495-9008 (cell) Email: cpierlot@covinabiomedical.com Michèle Charlton Communications Advisor, Research Dalhousie University Phone: 902-494-4148 Email: michele.charlton@dal.ca
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Investment and Partnership Announcements

CNW – Adaptiiv Receives FDA 510(k) Clearance to Market 3D Bolus Software – Adaptiiv, an innovative medical technology company announced today that it received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market 3D Bolus Software, an advanced software solution that enables the creation of customized personal medical devices using 3D printing, used primarily in the treatment of cancer. ACOA: Covina Biomedical Inc. Solidifying Place in the Bone Cement Industry –  the Government of Canada is supporting Covina Biomedical Inc. with a $500,000 repayable investment as it advances a proprietary bone cement used in the repair of knee implants, the single biggest problem in orthopedics today. IMV: Nasdaq Approves Listing of IMV Inc. Common Shares –  IMV Inc., a clinical stage immunotherapy company, today announced that its common shares have been approved for listing on the Nasdaq Capital Marketunder the symbol “IMV.” ACOA: Helping Spring Loaded Technology Ramp up Production to Improve Mobility–  The Government of Canada is providing this award-winning company with a $460,458 repayable contribution to help it upgrade its manufacturing operations, increase productivity and improve the quality of life of more people affected by mobility issues. Sona Nanotech Limited Delivering Innovative Treatment Tools to Global Markets- The Government of Canada is supporting Sona Nanotech Limited’s efforts to establish a development and production facility for gold nanorod technology production in the Dartmouth area. ACOA: Adaptiiv Medical Technologies Perfecting Customized Medical Software-  The Government of Canada is supporting Adaptiiv Medical Technologies’ revolutionary ideas in the creation of patient-specific boluses to improve the delivery of more effective and accurate radiation doses to targeted areas. ACOA: Precision BioLogic Inc. Banks on Developing New Diagnostic Tools-  The Government of Canada is supporting Precision BioLogic Incorporated’s breakthrough ideas in bioscience and the research required to develop new diagnostic products for use in clinical coagulation laboratories. WEBWIRE: McCain Foods makes significant strategic investment in vertical farming- McCain Foods Limited has completed a strategic investment in TruLeaf Sustainable Agriculture, a highly innovative Canadian agricultural technology company. TruLeaf has developed proprietary indoor vertical farming technology to grow fresh and nutritious leafy greens of high quality and flavour, in an environmentally sustainable way, 365 days per year. News Release ACOA: Windsor Expansion Helps BioVectra Meet Global Market Demand-  The Government of Canada is investing $5,000,000 in BioVectra Inc. to help the Charlottetown-based biotechnology and pharmaceutical ingredient manufacturing company expand its operations to Nova Scotia. Densitas Receives 510(k) Clearance for Breast Density Software-  Breast imaging analytics innovator Densitas Inc. announced today that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market its machine learning breast density assessment software. ENTREVESTOR: ABK Raised $9M in Equity in August- ABK Biomedical has raised more than $9 million in an over-subscribed round of equity funding that closed last August.  The larger equity base has allowed the company to borrow $3 million from the Atlantic Innovation Fund. ENTREVESTOR: Appili Raises $4.3M in Equity Funding- Halifax drug discovery company Appili Therapeutics Inc., has raised $4.3 million in equity financing to further its operations and add to its number of drug candidates.]]>

ENTREVESTOR: Spring Loaded Shows its Impact

See original story here Spring Loaded Technology on Tuesday used a press conference to show what its Levitation knee brace means to the people who use it –especially to users who suffer from osteoarthritis. The manufacturer held the media event at its Dartmouth headquarters to announce a $460,000 loan from the Atlantic Canada Opportunities Agency’s Business Development Program, and the launch of a new add-on product for the Levitation. But the highlight was a video and speech by Jane Grover of the Annapolis Valley, who explained what the knee brace – which not only stabilizes the joint but adds to its power – has meant to herself and her granddaughter. Grover, 64, said the Levitation knee brace has helped her granddaughter Kelsie, who has muscular dystrophy, continue to enjoy exercise and outdoor life in spite of her disease. So, when Grover found out she herself needed a second knee replacement, she opted for a Levitation knee brace instead. “I was offered surgery within a month but I declined because of my faith in the Levitation knee brace that my granddaughter Kelsie was wearing,” said Grover, who mounted the stage wearing one of the devices. [Watch the video here.] Resson Raises $14M; Mahindra Leads Spring Loaded began six years ago when Chris Cowper-Smith (now the CEO) and two co-founders set out to design a knee brace that would store energy when the knee joint is bent and release it when the leg is straightened. The company launched its Levitation knee last June, and its sales have risen steadily, especially among osteoarthritis patients. “It’s the most attractive market to us because it’s the market where we actually got pull,” said COO Dawn Umlah in an interview. She added that the 14 million people in Canada and the U.S. living with osteoarthritis have no other suitable alternatives. On Tuesday, the company unveiled its new Levitation Offloader, an add-on to the knee brace that improves performance for osteoarthritis patients. “With the launch of the Levitation Offloader, we’re able to offer customized relief to further reduce pressure on the worst-affected compartment of the knee,” said Cowper-Smith in a statement. “This allows us to better support a wider range of osteoarthritis patients, to reduce wear and tear and provide the pain relief they need.” The statement said conventional knee braces only address a narrow range of arthritis cases–uni-compartment tibiofemoral arthritis–which account for less than 4 percent of knee arthritis cases. Spring Loaded said its knee brace is the only one capable of reducing forces in all three compartments of the knee. The company will use the ACOA funding to expand its manufacturing capacity and increase its output. It has increased its staff 40 percent year-on-year and now employs 35 people, said Umlah. She added Spring Loaded is now raising equity capital, though she declined to say how much. Spring Loaded is one of three Nova Scotia life sciences companies to announce loans from ACOA’s Business Development Program this week. Adaptiiv, formerly 3DBolus, announced it has received funding of $328,943. The company has developed software that works with 3D printers to produce a personalized bolus — a plastic fitting used in radiation therapy. The company recently announced a distribution deal with CIVCO Radiotherapy. And Sona Nanotech announced a $500,000 BDP loan. Sona, which produces gold nanorods for medical markets, is going through the process of gaining a listing on the TSX Venture exchange. ]]>

ACOA: Adaptiiv Medical Technologies Perfecting Customized Medical Software

See original news release here

Government of Canada supports targeted marketing plan, regulatory approvals and research commercialization  May 14, 2018 – Halifax, NS – Atlantic Canada Opportunities Agency Helping Atlantic Canadian businesses succeed by fostering greater innovation through the commercialization of research creates well-paying jobs and improves the lives of all Canadians. That is why the Government of Canada is supporting Adaptiiv Medical Technologies’ revolutionary ideas in the creation of patient-specific boluses to improve the delivery of more effective and accurate radiation doses to targeted areas. Andy Fillmore, Parliamentary Secretary for the Minister of Democratic Institutions and Member of Parliament for Halifax, announced a $328,943 investment of behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA). The contribution is being made through ACOA’s Business Development Program, which supports small and medium-sized companies’ innovation to improve competitiveness in export markets. The assistance will help Adaptiiv Medical Technologies obtain regulatory approval to expand into new markets in the United States, and to execute a new marketing plan featuring promotional materials and a demonstration video to showcase the company’s software to aid with its increased market reach. The funds will also help Adaptiiv finalize the commercialization of its High Dynamic Range (HDR) Imaging-Surface Bracatherapy Module, which is a form of treatment where sealed radiation is placed inside or next to the area requiring treatment. Bracatherapy is commonly used to treat cervical, prostate, breast and skin cancer, and can also be used to treat tumors in many other body sites. The investment builds on the commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy. The Strategy supports targeted investments in initiatives that build on the region’s competitive advantages, such as its strong export potential and skilled labour to expand business activities between the region and international markets.

Quotes

“Canada is a country of innovators. Curiosity, courage, and creativity are what lead to the kind of innovations and technologies that improve our daily lives and drive our economy, and our country, forward. Adaptiiv Medical Technologies, a pioneer in medical solutions to deliver better, more accurate treatment, is an example of the adaptability we need to foster in our home-grown businesses to maintain our competitive edge in the global economy.” –       The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA “For businesses to grow and create good, well-paying jobs, they must be supported in their endeavors to turn their new ideas into products that can compete in the global marketplace. Adaptiiv Medical Technologies is well-placed to help countless individuals with its technologies that can improve medical treatments, providing a strong foundation on which to build new partnerships with both clients and consumers.” –       Andy Fillmore, Parliamentary Secretary to the Minister of Democratic Institutions and Member of Parliament for Halifax “Adaptiiv’s software enables clinicians to design and 3D print accessories for radiation therapy treatment. Our goal is to democratize the delivery of patient-specific treatment. To that end, Adaptiiv is thrilled with the support it has received from the Canadian Government and Atlantic provinces and their continued role in encouraging innovation as we work to provide our patient-specific solution to the global radiotherapy market.” –       Peter Hickey, CEO of Adaptiiv Medical Technologies 

Quick facts

    • A conventional bolus is a flat piece of rubber-like material placed on top of the patient’s skin to increase the radiation dose to the skin and to the tissues right below it. However, conventional boluses are unable to accommodate or correct for anatomical irregularities, making them less than optimal.
    • Conventional boluses often have air cavities between the bolus and skin, which can cause an under dose of medication.
    • Adaptiiv overcomes the challenges of conventional boluses and other accessories currently used in radiation therapy.
    • Adaptiiv is a software application that fully integrates with existing treatment methods, using 3D printing to produce treatment accessories on demand.
    • Adaptiiv’s algorithms automatically calculates a customized design that changes the surface shape of the bolus to allow for tailoring of dose distribution. The application produces objects that are accepted directly into the planning software and used to accurately develop a treatment plan.
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