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]]>

Modernizing EQUITY TAX CREDITS in Atlantic Canada and Stimulating Innovative Companies

BioNova advocates on behalf of the sector for initiatives that are important to attract investment to the province. learn more about the recommendations we’re presenting to Government on modernizing Equity Tax Credits for Atlantic Canada by clicking on the image below.
To add your signature of support for these recommendations CONTACT US


Update: Province Announces Innovation Equity Tax Credit
highlights: The new tax credit applies to investments up to $250,000 in eligible businesses, which is $200,000 more than the current Equity Tax Credit. Nova Scotian investors will receive a tax incentive of 35 per cent, or 45 per cent in priority sectors of oceans technology and life sciences.


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ACOA: Precision BioLogic Inc. Banks on Developing New Diagnostic Tools

See original press release here Precision BioLogic Inc. Banks on Developing New Diagnostic Tools From: Atlantic Canada Opportunities Agency News release

Government of Canada supports research project to advance medical technology for clinical coagulation tests May 11, 2018 – Dartmouth, 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. This is why 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. Darren Fisher, Member of Parliament for Dartmouth-Cole Harbour, announced a $500,000 investment 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 contribution is being made through ACOA’s Business Development Program, which supports small and medium-sized companies’ innovations to improve competitiveness in export markets. The assistance will help Precision Biologic Inc. develop new products to complement its existing line of frozen plasma diagnostic items used for hemostasis testing throughout the United States, Canada, Europe, Australia and New Zealand. The new research project will create one job. This 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
“The Government of Canada focuses on supporting scientific research and providing equipment that Canadian researchers need to succeed in creating new technologies and medicines to diagnose diseases and treat patients. We are pleased to help an innovative company such as Precision BioLogic develop new products for identifying coagulation disorders.” –       The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA “Investments such as this bring innovative services and more opportunities to our country, helping to generate wealth and economic growth in Atlantic Canada. This project will encourage Precision BioLogic Incorporated to bring additional focus to its commercialization and to reach new markets.” –          Darren Fisher, Member of Parliament for Dartmouth-Cole Harbour “Precision BioLogic has been developing, manufacturing, and marketing frozen diagnostic products for more than 25 years. This funding will allow us to develop new products to help in the diagnosis of coagulation disorders.” –          Paul Empey, President & CEO of Precision BioLogic Incorporated 

Contacts

Alex Smith Director of Communications & Outreach Atlantic Canada Opportunities Agency Phone: 902-426-9417 / 902-830-3839 (cell) Email: alex.smith@canada.ca Elaine Benoit Marketing & Communications Manager Phone: 902-468-6422 x 357 / 902-430-7795 (cell) Email: ebenoit@precisionbiologic.com
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News Release ACOA: Windsor Expansion Helps BioVectra Meet Global Market Demand

Extensive facility renovation, new equipment, assists life sciences firm in creating jobs, growing regional economy April 12, 2018 – Windsor, NS – Atlantic Canada Opportunities Agency Canada is a country of innovators. Curiosity, creativity and a collaborative spirit are what lead to the kinds of innovations and technologies that improve our daily lives and drive our economy, and our country, forward. That is why 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. This will enable the firm to grow, create additional highly skilled positions and help build sustained economic prosperity in Atlantic Canada. The funding was announced today by the Honourable Scott Brison, Secretary of the Treasury Board and Member of Parliament for Kings-Hants, 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 repayable contribution is being made through ACOA’s Business Development Program, which helps small and medium-sized enterprises expand and modernize to improve competitiveness. BioVectra will use the assistance to complete major renovations at its Windsor facility and to purchase new equipment. This will allow the company to increase its capacity to develop and manufacture biologic drug substances for global pharmaceutical and biotechnology companies. These materials are used in the creation of products to treat cancer, autoimmune disorders, diabetes, arthritis, and many other serious illnesses. The project will create 28 full-time positions, and by 2020, when the plant is fully operational, it is expected that more than double that number of people will be employed there. 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 in initiatives that build on the region’s competitive advantages, such as its strong export potential, growing innovation network, and skilled workforce.

Quotes

“Science and technology – along with stronger international trade – are rapidly changing the way Canadians live and work, bringing new challenges and more opportunities. Investing in BioVectra Inc., an industry-leading biotechnology and pharmaceutical ingredient manufacturing firm, will help strengthen and grow the middle class, and lay a more solid foundation for the next generations of Canadians.” – The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA  “The jobs of the future depend on Canadians’ ability to continue to adapt, innovate, and maintain our competitive edge in the fast-paced and increasingly global economy. BioVectra is already known worldwide for its expertise in developing and producing active pharmaceutical ingredients used in products that treat life-threatening diseases. This modern, 50,000 square-foot facility will increase the company’s manufacturing capacity by 40 per cent and allow BioVectra to become a rare one-stop shop for its global biotech and pharmaceutical customers.” – The Honourable Scott Brison, President of the Treasury Board and Member of Parliament for Kings-Hants “As an integral part and leader within the vibrant Atlantic Canadian BioScience cluster, we consider ourselves fortunate to operate in a supportive ecosystem where substantial emphasis is placed on talent, skills and innovation. The contribution from ACOA’s Business Development program will enable BioVectra to continue to thrive, create highly skilled jobs in Atlantic Canada, and help solidify Canadian leadership within the very competitive global markets we participate in.” – Oliver Technow, President, BioVectra Inc.

Quick facts

  • BioVectra Inc., headquartered in Charlottetown, P.E.I., has more than 300 employees, and will initially add another 28 jobs in Windsor. The company’s four locations – three in Charlottetown and one in Windsor – total approximately 110,000 square feet.
  • BioVectra’s predecessor, Diagnostic Chemicals Ltd. (DCL), was founded in 1970 by Dr. Regis Duffy, then a UPEI chemistry professor, who began producing small amounts of a specialty chemical under contract to a U.S. firm.
  • Since its inception, BioVectra, which is part of the active pharmaceutical ingredient life cycle from early clinical development to commercial supply, has created hundreds of products used on the market today.

Contacts

Alex Smith Director of Communications and Outreach Atlantic Canada Opportunities Agency Phone: 902-426-9417 / 902-830-3839 (cell) E-mail: alex.smith@canada.ca Jordan MacGregor Communications and Marketing Manager BioVectra Inc. Phone: 902-566-9116 ext 6376 E-Mail: jmacgregor@biovectra.com]]>

ENTREVESTOR: A Call for Better Business Acumen

See original article here Written  by Darren Rowles , CEO of Sona Nanotech Having been a scientist for more than 15 years, I’ve seen my fair share of science-based startups come and go. Those that succeed tend to do so through a combination of good products, good business sense and good fortune. Often a good enough product or idea can compensate for a lack of business sense, and some companies succeed through sheer luck alone. But many others fall by the wayside before they even get a chance to succeed. Without a good business plan and knowledge of the market even the best products and ideas can fail. The simple fact is, many scientists lack the business acumen and motivation needed to take their idea or product to market. I don’t say this as a criticism, just an observation; many scientists have absolutely no interest in business, finance or commerce and that’s fine. Take my company, Sona Nanotech, for example. The team at Sona comprises brilliant scientists who have developed unique products – the world’s first toxin-free gold nanorods. But they lacked the knowledge and contacts to gain the vital market access they needed to make the products a commercial success. Over Sona’s brief history there has been no shortage of would-be investors willing to back the company and its products, but it was difficult for the team to properly capitalize on these offers without a solid commercial strategy. That’s why I was brought on board as CEO and president at the end of last year, because I know the market, I am comfortable in business environments, I can talk the language and I can build relationships and partnerships. Read our Report on Sona’s Plan To List on the TSX Venture Coming from the U.K., I am having to learn how to navigate an entirely new and unfamiliar system here in Nova Scotia, so I can understand some of the difficulties other life science startups in the province face when it comes to commercializing their own products. For example, after an initial successful application a couple of years ago, we applied to the Atlantic Canada Opportunities Agency for further funding, but not being very familiar with the system and wanting to get the best out of it meant we needed help. So, we brought in a consultant to help us better understand the system and how to access the different tiers of funding programs. As a result, our current application stands a better chance than most. There are also operational issues to consider. Take facilities, for example. We are incredibly lucky and grateful that we have been able to operate the company out of lab space at St. Francis Xavier University. But now we need a new space to accommodate our growth and have been looking around for somewhere suitable. Many life sciences startups will no doubt be in the same position, having spun out of one of the province’s excellent universities they will be looking for a permanent base from which to grow. Luckily there are options for us in the Halifax area, and for startups there are several incubation hubs in the region that can offer superb facilities. However, finding those facilities and negotiating a good deal can be difficult if you aren’t commercially minded. Logistics is another issue. We recently needed to buy in some specialist equipment from the U.S., but to do so we had to use brokers to deal with the import/export costs and supply chain logistics, something which came as a bit of a surprise. ABK Raises $9M in Equity Financing Nova Scotia has a healthy and growing life sciences sector. Worth around $300 million and centered on the Halifax area, it is home to more than 50 companies that employ around 1,100 people. There are also some incredible life science startups dotted throughout Nova Scotia, but unless they receive proper business support many are going to struggle to fully realize their potential. Life sciences if a fast-moving global sector, and startups need interaction with industry partners, access to programs of funding and, most importantly, access to the market. And this can’t just be access to market reports, because those can be sourced online, but real market access, company databases, contact info and the opportunity of actually getting in front of the key decision-makers in their specific part of the life sciences sector. Ideally, they need to obtain access or incorporate an individual or organization into their setup that can bridge the gap between science and business, which can be worlds apart. That’s why something like BioNova, the life sciences body for Nova Scotia, is so vital. BioNova aims to advance life sciences in the province and accelerate the commercialization success of its businesses and organizations by building relationships and by creating networking and educational opportunities. Additionally, it offers programs that allow life sciences SMEs to apply for project funding or work with collaborators. As a member we have made vital connections in the sector both inside and outside the province. If the potential of Nova Scotia’s life sciences sector is to be fully realized in the increasingly competitive global marketplace, its science and business communities must work more closely together in future.   Darren Rowles is CEO of Sona Nanotech, a biotech firm based in Halifax, Nova Scotia. He has 15 years’ experience in product manufacture and development in the area of gold nanoparticles and lateral flow diagnostics.]]>