[January 05, 2018] |
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Get to Know the Revolutionary Medical Innovations Being Unleashed in Canada
Next week, leading Canadian health startups will be the ones to watch
during J.P. Morgan's healthcare conference in San Francisco. More than
two dozen health firms in MaRS' network, from fields including
artificial intelligence (AI), digital health and robotics, will be in
Silicon Valley for the week of conferences and events.
Health investors are paying attention to Canada, particularly to
Toronto's hot market. According to Thomson
Reuters, venture capitalists (VCs) invested over $1.1 billion in
Canadian life-science companies in 2016, the most on record in a single
year and double the amount of VC funding in 2015. There were also a
record number of deals in 2017, particularly in AI and healthcare.
"Investors are beginning to take note of Toronto as an under-tapped
market for health startups," says Salim Teja, president of MaRS Ventures
Services. "VCs and large health corporates globally are drawn to our
capacities in science and healthcare delivery. We have a strong network
of hospitals and research institutes in a highly concentrated area.
Toronto is on par with leading health clusters and innovation hubs
globally."
MaRS is the world's largest urban innovation hub, with 1.5 million
square feet dedicated to supporting multidisciplinary discoveries in the
heart of Canada's biggest city, next to the University of Toronto and
dozens of research hospitals.
"VCs look to invest in transformative innovations that can significantly
improve the diagnosis, treatment and prevention of disease," says Brad
Bolzon, managing director and chairman of the investment team at Versant
Ventures. "In Canada, we've seen world-class science translated into
startups that hold the promise of developing truly differentiated
products for patients."
Each year, hundreds of investors from around the world are drawn to
Toronto for MaRS' annual health startup showcase. This year's Toronto
Health Innovation Week, running from April 9 to 13, is expected to
be the largest health investor gathering in Canada.
Here are some of the Canadian health companies descending on San
Francisco during J.P. Morgan's annual health conference.
Artificial intelligence in healthcare Toronto-based health
ventures are leveraging big data to transform medicine with new tools
for doctors, patients and consumers. Diverse talent, leading research
hospitals and innovation platforms like MaRS and the Vector Institute
for Artificial Intelligence, along with vast troves of health data, are
supporting Toronto's emergence as a world-leading market for AI and
health innovation. The following companies are combining machine
learning and life science to develop new therapies, diagnostics and
preventative treatments.
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Atomwise
invented the use of deep learning for rational drug design, and is
working with leading pharmaceutical and agrochemical organizations on
dozens of diseases.
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Cyclica
has developed a cloud-based AI-assisted platform used by pharma to
screen small-molecule drugs against all known human protein structurs
in an effort to navigate the drug-discovery pipeline more efficiently.
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WinterLight
Labs' AI technology can quickly and accurately break down
speech and language patterns to help detect and monitor cognitive and
mental diseases like Alzheimer's.
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Swift
Medical delivers an advanced mobile wound care management app
for healthcare enterprise, completely streamlining clinical and
administrative workflows from capture to claim.
"2017 was a breakout year for Toronto, cementing its reputation as a
global epicenter for AI innovation, particularly in life sciences," says
Naheed Kurji, president and CEO of Cyclica. "The field of artificial
intelligence was pioneered by Toronto-based researchers, and their
efforts have spurred much of the remarkable innovation we are seeing in
the city today. The international venture capital ecosystem is taking
note-2018 will be an exciting year."
Therapeutics, devices and robotics From the foundations of
artificial intelligence and machine learning to the discovery of insulin
and stem cells, Toronto has a history of medical and scientific
breakthroughs. Today, sixteen of the world's top 25 medical device
makers call Toronto home. This includes Johnson & Johnson, Medtronic and
GE Healthcare , as well as more than half of Canada's estimated 1,100
medical device companies. The following innovators are developing
products and therapies that will make a difference around the world.
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BlueRock
Therapeutics is pioneering cell therapies that replace
dead, damaged, or dysfunctional cells to restore critical natural
functions in the body. The company is initially targeting severe brain
and heart conditions, two areas of critical unmet medical need.
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Northern
Biologics is developing a portfolio of antibody-based
therapeutics based on relevant targets in the tumor microenvironment.
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eSight
creates electronic glasses that enable the legally blind to
actually see.
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Induce
Biologics develops bioimplants to regenerate bones in a
more cost-effective and less harmful way than traditional solutions.
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Medella
Health develops novel sensors, using machine learning to
monitor health biomarkers for medical devices ranging from smart
contact lenses to point-of-care solutions.
Digital health and mobile medicine Toronto is also a leading
hub for digital health with innovators using technologies such as
digital sensors and mobile medicine to empower patients and healthcare
professionals. Here are a few of the companies with digital solutions
that connect medical professionals, patients, records and research.
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Mavencare
is a technology enabled homecare company dedicated to supporting
seniors and their families to promote aging in place. The company
operates in Toronto, New York City and Boston.
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Memotext
offers a phone messaging service that sends reminders to patients
about their medications and is adaptive to their individual behaviors
to provide timely notifications that improve outcomes.
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Mozzaz
delivers mobile solutions for "high-need, high-cost" complex care
patients and the teams that support them. Personalized, interactive
care plans enable patients to engage in their care and stay connected
to care teams for support.
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Pulse
Infoframe makes medical research more collaborative. Its
platform allows pharmaceutical and medical device companies,
researchers and patients to share key data insights, helping to
advance the understanding and treatment of cancer and rare diseases.
About MaRS Discovery District MaRS
Discovery District (@MaRSDD) in Toronto is one of the world's
largest urban innovation hubs. Our purpose is to help innovators change
the world. MaRS supports promising ventures tackling key challenges in
the health, cleantech, finance & commerce, and work & learning sectors
as they start, grow and scale. In addition, the MaRS community fosters
cross-disciplinary collaboration to drive breakthrough discoveries and
new solutions to be adopted in Canada and beyond, growing our economy
and delivering societal impact at scale.
MaRS Health supports over 350 Canadian health technology startups with
advisory support and connections to capital, talent, global partners and
customers.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180105005844/en/
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