Toronto Innovation Acceleration Partners Leads Investment in Northern Vascular Systems to Advance Clinical Development of Novel Light-Activated Embolization Technology
TORONTO, ON — July 23, 2026 — Northern Vascular Systems (NVS), a Toronto-based medical device company developing next-generation embolization technologies for neurovascular disorders, and Toronto Innovation Acceleration Partners (TIAP) today announced the completion of an investment round of over CAN$2 million, led by TIAP to support the advancement of NVS’ lead product into clinical trials for chronic subdural hematoma (cSDH).
Founded on research originating at TIAP member institutions Sunnybrook Research Institute and the University of Toronto, Northern Vascular Systems is developing a first-in-class light-activated liquid embolic platform designed to give physicians precise, on-demand control over embolization procedures. The company’s technology combines a proprietary photo-curable hydrogel, a light-emitting microcatheter, and a light activation system, enabling clinicians to precisely control when, where, and how embolization occurs during treatment.
Unlike conventional embolic agents that begin solidifying immediately upon delivery, NVS’s technology remains in a liquid state until activated by light. This on-demand curing capability allows the material to better conform to complex vascular anatomies before solidifying, potentially improving procedural precision, safety, and effectiveness. The hydrogel is also designed to be mechanically compliant, biocompatible, and absorbable over time, offering a novel approach to treating a range of neurovascular and peripheral vascular conditions. The platform has demonstrated promising performance in preclinical studies and is being advanced into clinical evaluation for chronic subdural hematoma, one of the fastest-growing neurological disorders worldwide.
“Northern Vascular Systems was founded with the goal of fundamentally improving how embolization procedures are performed,” said Joel Ramjist, Chief Executive Officer and Co-Founder of NVS. “TIAP’s investment provides critical support as we enter clinical trials for our first indication. Just as importantly, their confidence in our team and technology has helped attract significant additional investment to accelerate our path toward bringing this innovative platform to patients.”
Northern Vascular Systems was co-founded by Yuta Dobashi, the inventor of the company’s core technology and Chief Technology Officer; Joel Ramjist, Chief Executive Officer; Dr. Victor Yang, neurosurgeon, biomedical engineer, entrepreneur, and co-founder of 7D Surgical; and Dr. Konrad Walus, Professor of Engineering at the University of British Columbia, serial entrepreneur, and co-founder of Aspect Biosystems. The company has grown from university-based research into a multidisciplinary team of scientists, engineers, clinicians, and entrepreneurs focused on advancing precision embolization technologies.
“Northern Vascular Systems exemplifies the kind of breakthrough Canadian health innovation that TIAP was created to support,” said Dr. Sohaib Siddiqui, TIAP Director of Technology and Venture Development, who will also join the NVS Board of Directors. “The team has developed a highly differentiated technology platform with the potential to address important unmet needs across neurovascular care. We are excited to support the company’s next phase of growth as it advances into first-in-human clinical studies.”
Chronic subdural hematoma, which affects hundreds of thousands of patients globally each year, is most commonly caused by major or minor trauma to the brain from a head injury and is increasingly associated with aging populations. Embolization has emerged as a promising minimally invasive treatment option, and NVS believes its light-activated embolic platform could provide physicians with greater procedural control and improved treatment outcomes compared with existing approaches.
About Northern Vascular Systems
Northern Vascular Systems is a Toronto-based medical device company developing a novel light-activated liquid embolic platform for the treatment of neurovascular and vascular disorders. Originating from research conducted at Sunnybrook Research Institute and the University of Toronto, the company’s technology combines advanced biomaterials, optical engineering, and minimally invasive intervention to provide clinicians with precise control over embolization procedures. Northern Vascular Systems is advancing its lead program toward clinical trials in chronic subdural hematoma while exploring broader applications across neurovascular and peripheral vascular disease.
About Toronto Innovation Acceleration Partners (TIAP)
Toronto Innovation Acceleration Partners (TIAP) is a leading commercialization organization supporting the translation of breakthrough research discoveries into high-growth companies and impactful technologies. Working with innovators and entrepreneurs from Toronto’s top universities, hospitals and research institutes, TIAP identifies the most exciting sparks of ground-breaking therapeutic, medical device and digital health/AI innovation, and then provides venture creation expertise and investment capital to bring these transformative technologies to market. TIAP is partially supported through the Federal Economic Development Agency for Southern Ontario.
For more information, please contact:
Joel Ramjist
Chief Executive Officer
Northern Vascular Systems
j.ramjist@northvasc.com
Barry Gee
Director, Public Affairs
Toronto Innovation Acceleration Partners (TIAP)
bgee@tiap.ca