August 2014

Accel-Rx, the national health sciences accelerator, launches as a Centre of Excellence for Commercialization and Research (CECR)

MaRS Innovation among founding partner CECRs; Accel-Rx will provide funds to new biotechnology start-ups emerging within MI’s portfolio

VANCOUVER, BC (Aug. 25, 2014) –With the awarding of $14.5M under the Canadian government’s Networks of Centres of Excellence (Centres of Excellence for Commercialization and Research (CECR)) Program, as announced earlier this morning by the Honourable Ed Holder, Minister of State for Science and Technology, Accel-Rx – Canada’s Health Sciences Accelerator is officially launched.

Media coverage of this announcement: CBC’s Inside Politics blog, IT Business Net, and the Funding Portal.

This announcement builds on the previously announced strategic partnership between BDC and Accel-Rx to fund Canadian biotechnology start-ups.

The Accel-Rx Health Sciences Accelerator is a national organization focused on maximizing new health sciences company creation, and ensuring start-ups have the resources they need to enable them to stay and grow in Canada and give rise to a new generation of strong health sciences anchor companies. Accel-Rx therein brings together five of Canada’s leading health sciences CECRs to foster pan-Canadian cooperation and directly address the health science company creation challenge in Canada.

These CECRs include:

CDRD Ventures Inc. (CVI), the commercialization vehicle of The Centre for Drug Research and Development will provide the initial management to launch Accel-Rx’s operations. BDC Venture Capital, as recently announced, will further advance Accel-Rx’s mission by acting as the main funding mechanism for companies created at and/or supported by Accel-Rx, with the intent to invest in up to three to four companies annually, with that number potentially increasing as the partnership progresses.

Robert Bosch Venture Capital leads $3.75 million Series A round for Flybits

August 20, 2014
Susanne Staer
Flybits

Toronto start-up to advance context-aware mobile experience platform

TORONTO, Canada (August 20, 2014) — Flybits Inc., a Toronto start-up that has created a context-aware experience development platform for mobile environments, has closed a $3.75 million Series A financing. Led by Robert Bosch Venture Capital GmbH (RBVC) and Trellis Capital Corporation with participation from MaRS Investment Accelerator Fund and Ryerson Futures, Inc., the investment will advance the company’s product development and international growth in the United States and Europe.

This announcement was covered in the National Post, TechVibes, Fortune Magazine‘s Term Sheet Blog (Dan Primack), BetaKit, Yonge Street Media and PEHub.

Since spinning off from Ryerson University in 2012, Flybits has raised a total of $4.05 million to date, including a seed round from MaRS Innovation. Flybits technology has been used in developing smarter cities, connected stadiums, smart corporate campuses, shopping malls, conference venues and even fashion shows. The company also concurrently incubated its technology at the Ryerson Digital Media Zone in Toronto and Vodafone Xone in Redwood City, California.

“Flybits is RBVC’s first investment in Canada,” said Luis Llovera, managing director of Robert Bosch LLC based in Palo Alto, California. “The company has demonstrated a unique and innovative approach in building foundational technology to deliver Contextual Mobility Services for both display-driven devices and for the emerging Internet of Things applications. Flybits’ strong roots in tangible and high impact R&D, their ability to predict the required infrastructure for the industrial Internet and their global entrepreneurial ambitions were some of the reasons we were attracted to this company.”

“Involving high-quality investors such as Bosch and Trellis demonstrates the potential in our unique approach to designing Intelligent Mobility Solutions that are intuitive and scalable,” said Dr. Hossein Rahnama, CEO and founder of Flybits. “In particular, having Bosch as a strategic investor means we leverage their global expertise in software automation, connected communities and sensor technologies as we support new and existing international customers, and scale and develop both our team and our products.”

“Recognizing the Flybits’ platform potential to create next-generation mobile experiences at an early stage, MaRS Innovation worked closely with Flybits to launch the company and secure initial market traction,” said Dr. Raphael Hofstein, president and CEO of MaRS Innovation.

UTEST graduate CoursePeer announces partnership with the Western GTA Summit

August 13, 2014
Susanne Staer
CoursePeer

CoursePeer’s social collaboration intranet solution successful in amplifying members’ and citizens’ collaboration and engagement

TORONTO, Aug. 13, 2014 — If you run a community-led group to discuss key issues facing over 1.4 million people, how do you help them to do the best collaboration possible? What’s the best way to capture and retain their feedback?

After seven years of successfully holding the Western Greater Toronto Area (GTA) Summit—an annual meeting co-chaired by the mayors and business leaders of Mississauga, Brampton, Caledon and Oakville to discuss issues of significant importance to the Western GTA—the Summit’s task forces decided to further enhance their members’ means of collaboration and knowledge retention by adopting an innovative technology platform.

This announcement was covered in Mississauga News, InsideHalton.com and the Brampton Guardian.

CoursePeer, a University of Toronto and MaRS Innovation start-up providing learning and collaboration solutions for enterprise and government, began a successful implementation at the Summit in January 2014.

“I find the program very intuitive, accommodating and simple to use. There is a bit of a fraternity building among the regular users,” said Peter VanSickle, co-chair of Brampton and president of the Brampton Downtown Development Corporation.

BioCentury features Encycle Therapeutics

Encycle Therapeutics, a MaRS Innovation start-up company from the University of Toronto, was featured in a BioCentury emerging company profile by Michael J. Haas.

The company is currently raising a Series A financing round and employs eight people.

Haas’ profile, “Encycle: Oral Macrocycles,” is available behind a pay wall on the BioCentury website.

Here’s a short excerpt:

Macrocycle therapies can block protein-protein interactions that are undruggable with small molecules; however, oral availability and cell penetration remain key challenges. Encycle Therapeutics Inc.’s chemistry platform generates drug-like macrocycles against validated targets to treat diseases for which oral therapies are needed.

Marketed inhibitors of protein-protein interactions include biologics and other molecules large enough to target the wide, shallow surfaces involved in those interactions, but can only bind extracellular targets. Macrocycles can have sufficient size to block protein-protein interactions yet remain small enough to penetrate cells and block intracellular interactions that biologics and small molecules cannot.

Founded on chemistry from University of Toronto for cyclizing peptides and non-peptidic molecules, Encycle’s macrocycles incorporate three features that are not all found in other companies’ compounds — the absence of sulfur, the presence of intramolecular hydrogen bonding motifs, and an upper limit on size, according to President and CEO Jeffrey Coull.

CBC’s Lang and O’Leary Exchange features Whirlscape’s Minuum keyboard

August 1, 2014
Susanne Staer
Media Coverage

UTEST graduate Whirlscape, makers of the wearable, one-line Minuum keyboard, were recently featured on CBC’s Lang and O’Leary Exchange.

Minuum has also broken the 100 billion pixels mark in screen space saved for its users. Read about it on input, the Minuum blog.

Founder and CEO Will Walmsley was interviewed by Amanda Lang. The footage was also made available on CBC News, and was included in CBC’s weekly summary of the week’s top business stories. Watch the video.

Here’s an excerpt:

Typing on a smartphone is hard enough – imagine doing it on a smartwatch or other wearable device.

A Toronto startup called Minuum is trying to solve that problem with a tiny virtual keyboard.

It’s a downloadable app costing $3.99 that combines a tiny keyboard with a powerful autocorrect that helps you get the message out, no matter how you punch it.
[. . .]
“What really drives us to work on this technology is the future potential it has. The core concept is a keyboard that is just one line of characters, which means if you can imagine typing on a line anywhere, that can be a keyboard,” he said.

Monthly Archives: August 2014