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Xagenic

Dr. Hofstein’s Op-Ed for The Hill-Times, “Biotechnology research: A knowledge economy”

This op-ed on Canadian biotechnology and the knowledge economy appeared in The Hill-Times (subscription required), Canada's politics and government newsweekly, September 9: Obesity, cancer, heart disease and stroke, diabetes, Parkinson’s disease, Alzheimer’s, or the more general stresses of an aging population: no matter which area of concern holds our collective gaze from moment to moment, improving health outcomes and healthcare is the No. 1 challenge for the world’s economy. Canada has the holistic approach and translational research necessary to address health care’s pervasive ... Read more

FedDev Ontario awards Xagenic Inc. $990,000 through Investing in Business Innovation initiative

TORONTO, Feb. 19, 2013 — Xagenic Inc., a privately-held molecular diagnostics company, today announced that it will receive up to $990,000 in funding from the Government of Canada to support design and development of the first lab-free molecular diagnostic platform with a 20-minute time to result. The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), made the announcement in the keynote speech at the Conference Board of Canada's Business Innovation Summit 2013 ... Read more

Xconomy names Xagenic to 2012’s Biotech Startup Class

MI spin-off company one of 30 listed in North America and the United Kingdom Xconomy, a U.S.-based business news website, named Xagenic to its 2012 Biotech Startup Class. Luke Timmerman's article, published December 3, 2012, sited Xagenic as one of only 30 "exciting biotech startups" to raise significant venture capital (at least $5 million) in the life sciences sector. Xagenic, founded by Drs. Shana Kelley and Ted Sargent at the University of Toronto,  was also the only Canadian company named to the list. (more…) Read more

BioCentury Features Xagenic’s PCR-Based Infection-Diagnosis Technology

Xagenic, a MaRS Innovation spin-off company, was featured in the most recent issue of BioCentury. Here's an excerpt (the article only available to BioCentury subscribers): PCR-based diagnosis of infections can delay treatment decisions by days or hours because the method relies on technical expertise and equipment not available in most point-of-care settings. Xagenic Inc.'s chip-based arrays use a non-PCR, electrochemical approach to diagnose bacterial infections at the point of care in 20 minutes with PCR-like accuracy. Xagenic's core technology is a silicon chip containing ... Read more

MaRS Innovation’s Lead Start-Up Completes $20 Million Series B

Xagenic’s financing round to test platform and first diagnostic assay, continue product development and begin FDA submission Toronto, ON (December 2, 2013) — MaRS Innovation’s first start-up company, Xagenic Inc., is developing the first lab-free molecular diagnostic platform with a 20-minute time-to-result based on University of Toronto research by Professors Shana Kelley and Edward Sargent. Today, Xagenic announced it has successfully closed a Series B financing round totaling $20 million. New investor Domain Associates, LLC, led the round, joined by existing investors who ... Read more

Xagenic Raises $10 million in Series A Financing

TORONTO (January 30, 2012) – Xagenic Inc., a start-up company created by Dr. Shana Kelley, in partnership with MaRS Innovation, today reached a significant milestone by successfully completing series A financing totaling $10 million. The financing comes from sources from the private and public sector including CTI Life Sciences Fund L.P., Qiagen N.V. and the Ontario Capital Growth Corporation through its Emerging Technologies Fund. (more…) Read more

Xagenic secures $1 million investment from Ministry of Research & Innovation

Provincial Investment Supports Commercialization of Leading-Edge Molecular Diagnostic Screening Technology TORONTO (July 26, 2011) — Xagenic Inc., one of MaRS Innovation’s (MI) portfolio spin-off companies, was awarded $1 million in funding by Ontario’s Ministry of Research and Innovation (MRI) through its Investment Accelerator Fund‐Life Sciences (IAF-­LS) program. Research and Innovation Minister Glen Murray made the announcement at MaRS Discovery District. “Today’s announcement will go a long way in helping us to commercialize a technology that will ultimately shape the future of diagnostic testing — instead ... Read more

Xagenic secures $1 million investment in chip-based technology for detecting disease, cancer and infection

Funds secured from MaRS Innovation, HTX, OICR and CCR to speed commercialization of Xagenic's rapid molecular diagnostic technology TORONTO (October 13, 2010) – MaRS Innovation today announced a $500,000 investment in its Toronto-based spin-off company, Xagenic Inc. When combined with funds from other investors and lenders, the new working capital provided to Xagenic totals $1.04 million. This follow‐on financing includes a $300,000 loan from HTX, The Health Technology Exchange; $200,000 from the Ontario Institute for Cancer Research; $40,000 from the Ontario Centre of Excellence ... Read more
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