Jul 11, 2019 | News
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Halifax-based Motryx, which produces sensors that monitor the storage conditions of blood samples during transport, has been awarded a $97,500 grant from the federally funded Women Entrepreneurship Strategy.
CEO Franziska Broell, who holds a PhD in oceanography from Dalhousie University, said in an interview that the money will go toward integrating GPS support into the Motryx sensors by the end of this year—a feature that several laboratories have expressed interest in.
“It’s a key part of the solution that we need to develop in order to be able to access that big private lab market in the U.S.,” said Broell. “It’s going to be integral to [scaling the business].”
The Women Entrepreneurship Strategy is a $2 billion, federally funded program that aims to double the number of women-owned businesses in Canada by 2025. Businesses with female CEOs, more than 50 percent female ownership or more than 50 percent female employees are eligible for funding from the program. Motryx meets all three criteria.
“Our government believes that women’s economic empowerment is not just the right thing to do; it’s good for the bottom line,” said Minister of Small Business and Export Promotion Mary Ng in a press release. “It’s a smart investment with an economic and social return.”
Founded in 2014 as Maritime BioLoggers, Motryx originally intended to manufacture tracking tags for marine life. The company pivoted to monitoring blood samples in late 2018 because the marine trackers had to be customized for each new organism, which was going to make the business difficult to scale.
Jul 9, 2019 | Coloursmith Labs Inc., News
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Contact lens technology startup Coloursmith Labs has raised $600,000 in seed funding and announced the first two members of its board of directors.
Founded in 2018 by Dalhousie University researcher Gabrielle Masone, the Halifax-based company is developing technology that aims to allow contact lenses to filter certain types of light before it reaches the eyes.
The two board members are Wade Dawe and Rhiannon Davies. Dawe is the president of Brigus Capital, and Davies is a former vice-president and board member of Dutch optometry retailer GrandVision,
“Wade’s dedication to the company all this time has been nothing short of perfect,” said Masone in an interview. “And Rhiannon has a real finger on the pulse of the contact lens industry, and the eyewear industry in general.”
Masone, who Dawe describes as a “true innovator”, met both board members while completing Creative Destruction Labs’ accelerator program in the past year.
Coloursmith’s product works by using “optical filters” to control which types of light pass through contact lenses. This determines what wavelengths the wearer sees.
The technology aims to help reduce the effects of colour blindness and guard against the negative health effects of excessive blue light exposure. Blue light is the light given off by computer monitors, for example.
About one out of every 12 men and one in 200 women with Northern European ancestry suffers from colour blindness, according to the United States government’s National Eye Institute.
The science on whether or not blue light from digital devices harms the eye is not settled yet, according to the American Academy of Ophthalmology. But Harvard Health warns that it does cause sleep disruptions, and may contribute to obesity and other diseases.
Coloursmith is also considering other applications for the optical filters, including treating migraines and light sensitivity.
The company previously raised $200,000 from startup pitch competitions, such as Innovacorp’s Spark Innovation Challenge and the Volta Cohort Competition, as well as other programs that support early stage businesses.
Masone used the money to build a prototype and file patent applications in all major, global markets for contact lenses.
The latest $600,000 has been provided by investors that include St. John’s-based Killick Capital, PEI’s Island Capital Partners and Dawe’s Brigus Capital.
Jul 2, 2019 | Appili Therapeutics, News
Appili’s multi-drug resistant antibiotic program has the potential to address public health threats for both military and civilian populations worldwide.
HALIFAX, Nova Scotia, July 2, 2019 – Appili Therapeutics Inc. (TSXV: APLI) (the “Company” or “Appili”), a biopharmaceutical company focused on anti-infective drug development, announced today that the United States Department of Defense, (DOD) Congressionally Directed Medical Research Programs, Peer Reviewed Medical Research Program (PRMRP) has completed the contract awarding the Company a $3.0 million USD grant.
Appili will use the funds to continue advancing its ATI-1503 antibiotic program, which targets drug-resistant, Gram-negative bacteria also known as ‘superbugs.’ The ATI-1503 program has the ability to target 4 out of 6 “ESKAPE” pathogens, which are the leading cause of hospital acquired infections worldwide [i]. PRMRP grants support military health-related research that has the potential to make a strong impact on patient care.
“Multi-drug-resistant bacteria continue to spread throughout the world, making them one of the most urgent public health threat we are facing worldwide,” said Kevin Sullivan, CEO of Appili Therapeutics. “We believe that the ATI-1503 program has the potential to address several of the most dangerous superbugs for the military and civilians alike, and we are grateful for PRMRP’s continued support of this promising novel antibiotic class.”
According to the World Health Organization, drug-resistant bacteria, particularly the superbugs that are resistant to most or sometimes all available anti-infectives, are among the highest threats to human health worldwide. The U.S. Centers for Disease Control and Prevention (CDC) report that they are responsible for more than 2 million infections and 23,000 deaths each year in the U.S. alone. In addition to the widespread civilian vulnerabilities that they present, these superbugs pose serious challenges in both internationally deployed troops and domestic military personnel in veterans’ hospitals. The significance of these threats, and their prevalence worldwide, have made solutions to multi-drug resistant bacteria a priority research area for the Department of Defense (DOD).
Appili’s ATI-1503 program is a new class of antibiotics based on the negamycin scaffold, which is a naturally occurring compound with intrinsic Gram-negative antibacterial activity. The class has broad spectrum activity, which allows it to potentially address the deadliest Gram-negative bacteria, including the superbugs Klebsiella pneumoniae, Acinetobactor baumannii, and Pseudomonas aeruginosa. These are high priority pathogens for the CDC and WHO because of the lack of effective antibiotic treatment options for the most resistant strains [ii][iii].
About the PRMRP Grant
This work is supported by the DOD Congressionally Directed Medical Research Programs through the PRMRP under Award No. W81XWH1910308. As previously disclosed, Appili was informed of the PRMRP grant in February 2019, but such grant remained subject to finalizing the definitive agreement.. Under the terms of PRMRP grants, the investigators conducting this research will adhere to the laws of the United States and regulations of the Department of Agriculture, as well as the CDC-NIH Guide for Biosafety in Microbiological and Biomedical Laboratories. For more information, visit http://cdmrp.army.mil.
About Appili Therapeutics
Appili Therapeutics, Inc. was founded to advance the global fight against infectious disease by matching clearly-defined patient needs with drug development programs that provide solutions to existing challenges patients, doctors, and society face in this challenging disease space. Appili has built pipeline of assets designed to address a broad range of significant unmet medical needs in the infectious disease landscape. This diverse pipeline aims to address some of the most urgent threats in global public health. Via an in-licensing program, Appili acquired the rights to ATI-1701, a vaccine for tularemia, being developed to mitigate the risks of a very serious biological weapons threat. ATI-1503 is a drug discovery program aimed at generating negamycin analogue candidates, which are a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs. ATI-1501 employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. Headquartered in Halifax, Nova Scotia, with offices in Mississauga, Ontario, Appili is pursuing worldwide opportunities in collaboration with science and industry commercial partners, governments and government agencies. For more information, visit www.AppiliTherapeutics.com.
This news release contains “forward-looking statements” which reflect the current expectations of the Company’s management future growth, results of operations, performance and business prospects and opportunities. Such statements include, but are not limited to, statements regarding the Company’s proposed development plans with respect to ATI-1503 and the proposed use of proceeds from the PRMRP grant. Wherever possible, words such as “may “, “would “, “could “, “should”, “will,” “anticipate,” “believe,” “plan,” “expect,” “intend,” “estimate,” “potential for” and similar expressions have been used to identify these forward-looking statements. These statements reflect management’s current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions including with respect to the ability of the Company to adequately fund and implement its development plans and business strategy. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements including, without limitation, those listed in the final prospectus of the Company dated June 12, 2019 and the other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the press release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Neither the TSX Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.
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Media Relations Contacts:
Andrea Cohen, Sam Brown Inc.
T: 917-209-7163
E: [email protected]
Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics
E: [email protected]
Jun 28, 2019 | News, SONA NanoTech
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by Darren Rowles, CEO of Sona Nanotech |
Among the many positive headlines, facts and figures about Halifax contained in the latest edition of the Halifax Index is a particular statistic that caught my attention.
New research by the Halifax Partnership has revealed that the majority of funds raised by startup companies in Halifax over the last five years went to health care and life sciences companies – some US$64 million (C$84.4 million) in fact.
The report said: “Health care and life sciences companies have shown the strongest growth over the last five years in both value and number of funding rounds.”
While it’s not surprising that health care and life science startups are enjoying such success, being by their very nature forward-looking companies at the forefront of innovation, the significant amount of investment in this one sector is particularly noteworthy.
To put the figure into perspective, it’s US$11 million more than the amount invested in the second placed sector – energy, cleantech and natural resources – and four times more than the amount invested business and finance startups.
The company I run, Sona Nanotech Inc., is one of the life sciences startups to have benefitted from substantial investment during this period thanks to a private placement last year that raised C$2 million.
And, as a business that relocated to Halifax specifically to take advantage of all the Nova Scotian capital has to offer, we are uniquely placed to add some context to the findings.
Halifax is the hub of Nova Scotia’s booming life sciences sector, and for any life sciences startup it is the place to be, containing all the necessary infrastructure, support and academic links that a growing young business requires.
Read our Coverage of the Halifax Index
When it comes to support, BioNova, the life sciences body for Nova Scotia, is second to none.
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 Sona Nanotech has made vital connections in the sector both inside and outside the province.
Then there’s Innovacorp, Nova Scotia’s early stage venture capital organization, which is based in Halifax and includes life sciences among its target industries.
Innovacorp offers entrepreneurs access to world-class incubation facilities, expert advice and other support to help accelerate their companies.
When Sona was on the hunt for a new home in Halifax, Innovacorp had everything we were looking for, which is why we set up our laboratory facilities at the Technology Innovation Centre in Dartmouth (recently renamed The Bays at Innovacorp). We now have an excellent base from which to grow our business.
Halifax is also served by three academic centres of excellence for health care and life sciences; Dalhousie University, one of Canada’s leading research universities and one of the world’s best when it comes to scientific research, St Mary’s University, with its national leading program in chemistry, and the QEII Health Sciences Centre, the largest teaching hospital and adult academic health sciences centre in Atlantic Canada.
As well as the professional connections Sona is building with these institutions, the company has personal links with two of them. One of Sona’s founders, Dr. Gerard Marangoni, is a Dalhousie alumni, having completed his PhD there in 1992, and our business development manager, Anindita Gupta, completed her master’s degree in technology entrepreneurship and innovation at St Mary’s.
So, when all these factors are taken into account it should come as no surprise that life sciences startups in Halifax have been so successful in gaining investment in recent years. Sona Nanotech is proud to call Halifax our home, and to be part of the city and wider region’s thriving life sciences startup community.
Sona’s pioneering work was recently recognized by the Startup Canada Awards when we won the Innovation Award for the Atlantic Canada region – the only Nova Scotian business to win at the awards. With the ongoing backing of the city’s fantastic support network, we look forward to continuing to grow and innovate with the sector and to put Halifax on the map as the leading life sciences hub of Atlantic Canada.
Darren Rowles is CEO and president of Sona Nanotech Inc.
Jun 26, 2019 | Appili Therapeutics, NeuroQuest, News
See full Entrevestor article here
Shares of Halifax drug discovery company Appili Therapeutics Inc. begin trading on the TSX Venture exchange today.
The company, whose long-term goal is to produce drugs that can combat antibiotic-resistant viruses, issued a statement Monday evening saying the Toronto Stock Exchange had accepted its application for an initial public offering.
Appili is not raising new funds in the listing as it meets the TSX Venture requirements for capital, with enough money in the bank to last until mid-2020. The company raised $3.6 million earlier in the year via a sale of warrants. Since inception, the company has raised a total of $15.4 million in equity funding and $19 million in non-dilutive funds, and decided last autumn that its best long-term route to capital would be found in public markets.
“This public listing is an important part of our evolution as we look to continue to build our pipeline of products that treat the most serious threats to human health,” said Appili CEO Kevin Sullivan in an email Monday night. “It really is an exciting part of our life cycle/growth strategy that we are keen to show the markets.”
