otoscopy

MaRS Innovation’s top 10 portfolio stories for 2014

MaRS Innovation enjoyed an exceptional year in 2014. Our team continues to collaborate with researchers within our membership to help bridge the commercialization gap between their world-leading research and creating successful start-up companies or licenses.

Here are our picks for the top 10 news stories from MaRS Innovation’s portfolio.

Triphase-logo-Web1. Triphase Accelerator Corporation, in which MaRS Innovation is an investor, started the year with a bang by signing a collaboration and option agreement with Celgene Corporation. In October, Triphase initiated a Phase I clinical study to evaluate marizomib in Glioblastoma (GBM) with Celgene, signed an agreement to provide Celgene with an option to acquire a new bi-specific antibody (licensed by Triphase from PharmAbcine) and closed the year by announcing that Triphase’s proteasome inhibitor, marizomib, demonstrates potent synergistic anti-multiple myeloma activity in combination with pomalidomide.

Flybits Corporate Logo2. Flybits Inc., spun out of Ryerson University, announced a $3.75 million Series A financing with Robert Bosch Venture Capital to advance its context-aware mobile experience platform. The company was also named a Red Herring Top 100 North America winner.

XLV Diagnostics Inc. 3. XLV Diagnostics Inc., spun out from Sunnybrook Health Sciences Centre and the Thunder Bay Regional Research Institute, secured a $3 million Series A investment round with Boston-based Bernard M. Gordon Unitrust. XLV’s product will provide mammography image quality equivalent to top-of-the-line mammography machines currently in use, and will do so at a fraction of the cost of current generation systems. The funding will support continued product development and regulatory approval.

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OtoSim Inc. and U of T collaboration makes MEdSim Magazine

MEdSim Magazine profiled OtoSim Inc. and their partnership with the University of Toronto to establish a Student Training Fund in otoscopy.

Screen Shot 2014-02-27 at 11.25.34 AM

Led by a $200,000 donation by Mr. Ralph Chiodo of Active Green + Ross, OtoSim Inc. provided 66 OtoSim™ simulation units to U of T.

Otoscopy, the diagnostic examination of the ear, is one of the most poorly acquired medical skills in students because traditional methods of study rely on lectures and print material. Using the OtoSim™ simulation unit allows students to interactively improve otoscopy skills before they reach the clinic.

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$200,000 donation to establish Student Training Fund in Otoscopy at U of T

OtoSim™ device’s integration into medical students’ curriculum to help improve diagnosis accuracy by 44 per cent

OtoSim Inc. Logo
A $200,000 donation led by Mr. Ralph Chiodo of Active Green + Ross will help establish a Student Training Fund in Otoscopy at U of T in partnership with OtoSim Inc.

TORONTO, ON (Feb. 5, 2014) — The University of Toronto (U of T) is creating a Student Training Fund in Otoscopy in partnership with OtoSim Inc., thanks to a $200,000 donation led by Mr. Ralph Chiodo, founder of Active Green + Ross. Other donors include some franchisees of Active Green + Ross and others among Chiodo’s friends and associates.

The Halldale Group, a publisher specializing in simulation and training information, covered this funding announcement.

Through the donation, undergraduate medical students will have access to better otoscopy training through the use of the OtoSim™ in their curriculum. Otoscopy, the diagnostic examination of the ear, is one of the most poorly-acquired medical skills in students, general practitioners and pediatricians, achieving a fifty per cent accuracy rate.

Ralph Chiodo’s donation allows OtoSim Inc. to provide 66 otoscopy training units, known as the OtoSim™, to U of T. The devices, which can be networked to facilitate mass training exercises, will help undergraduate medical students to be effectively trained to diagnose ear problems using an otoscope.

Watch how the OtoSim™ can be used in mass training exercises. Nearly 100 second-year medical students voluntarily attended the OtoSim™ training session to better prepare their otoscopy skills for the clinic.

“We are excited to be the first official OtoSim™ mass-training site and thank Mr. Ralph Chiodo for leading the charge on fundraising for this unique learning opportunity,” said Ian J. Witterick, professor and chair in U of T’s Department of Otolaryngology-Head & Neck Surgery.

“A clinical study demonstrated that with only a couple hours of group training, the accuracy of third-year medical students increased from 54 per cent to 78 per cent,” said Dr. Andrew Sinclair, OtoSim CEO and former senior director at MaRS Innovation. “Mr. Ralph Chiodo’s donation will help us to ensure that more medical students graduate with a much higher proficiency in this critical primary physical examination skill.”

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OtoSim Inc. Makes a Sound Pitch on BNN

OtoSim listens to the Verdict on BNN's The Pitch
Louis Hui (far left) listens to the panel’s comments on BNN’s The Pitch.

OtoSim Inc., a MaRS Innovation spin-off company, made its debut on Business News Network’s The Pitchon June 1, 2012.

Louis Hui, OtoSim’s business development manager, had 90 seconds to pitch OtoSim™ — an integrated educational system that dynamically and interactively teaches how to accurately diagnose ear diseases — to The Pitch’s panel of financiers and experts.

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