Ontario Bioscience Innovation Organization Announces a Call for Applications for the 2020 Capital Access Advisory Program (CAAP®)

Business Wire

TORONTO--(BUSINESS WIRE)-- The Ontario Bioscience Innovation Organization (OBIO^®), the leading advocate for Ontario’s health science industry, is pleased to announce a call for applications for the 2020 OBIO Capital Access Advisory Program (CAAP^®).

OBIO CAAP is a unique, industry-led initiative that provides selected high-potential Ontario health science companies with mentoring, strategic guidance and access to an expansive network of health science industry experts and investors to enhance the ability of OBIO CAAP Companies to secure financing. Through CAAP, OBIO is advancing and accelerating the development and commercialization of therapeutics, diagnostics, medical devices, and digital health products and services to benefit Ontario and global human health.

“OBIO positions Ontario’s industry-leading health science technology ventures for success. To date, OBIO CAAP companies have raised more than $230M in funding since entering the program and we look forward to continuing to empower high-potential health science companies to achieve follow-on and scale-up investment,” said Gail Garland, President and CEO, OBIO. “OBIO CAAP has become a unique and critical part of Ontario’s health science industry ecosystem and we look forward to continuing to support the growth and success of Ontario companies.”

“OBIO and its CAAP program have been a huge great boost in preparing AmacaThera for a significant VC round that closed in 2018,” said Dr. Molly Shoichet, Co-Founder, AmacaThera and Fellow of the Royal Society and Officer of the Order of Canada. “OBIO helped us work out and clearly define our clinical development path, differentiate us from our competitors and communicate our unique value proposition,” added Mike Cooke, CEO and Co-Founder, AmacaThera. “Additionally, through OBIO’s networking and investor events, we were introduced to a host of investors. We closed our seed round with one of these VCs.”

“I first became involved with OBIO in 2010 as an OBEST task force member supporting the development of an Ontario-wide health science industry strategy,” said Amol Karnick, CEO, KA Imaging. “Over the years, I have witnessed OBIO’s continuous engagement with industry. Shortly after I became CEO of KA Imaging in 2015, I applied for and was accepted as part of the OBIO CAAP 2016 cohort. The advice and guidance we received from OBIO and their advisors contributed to both our business development and fundraising success. I am pleased to say that we have a well funded company and that KA Imaging is well on its way to becoming a Canadian success story.”

“When Rna Diagnostics joined OBIO CAAP in 2017, we had raised several angel rounds. Through the OBIO CAAP program and at events such as the Niagara Investment Summit, we met numerous highly qualified advisors and investors. These opportunities to present to qualified, engaged investors are what every start-up needs to succeed,” said Jeremy Bridge-Cook, President and CEO, Rna Diagnostics. “As Chair of the OBIO Board of Directors, I am proud of OBIO’s ability to continuously meet the needs of its members with outstanding programs such as OBIO CAAP.”

Initiated in 2013, the OBIO Capital Access Advisory Program operates downstream from other programs and targets the critical issue of access to capital at the post-seed stage of venture financing. All high-potential health science companies based in Ontario that meet the requirements listed below are encouraged to apply.

OBIO CAAP Eligibility

Companies focused on developing health science products or services including but not limited to therapeutics, medical devices, diagnostics, or digital health; and,
Enterprises that have already raised initial capital and are committed to raise a subsequent major round of financing in the next 12 to 18 months.

Applications

For more information about how to submit an application, please visit the OBIO website here. The deadline for 2020 CAAP Applications is Friday, December 18, 2019 at 5:00pm EDT.

Information Session

An information session for companies that want to apply to OBIO CAAP will be held at 12:00 noon on Thursday, December 6, 2019 by teleconference and in-person meeting in the OBIO boardroom, 100 College Street, Suite 215. To register, please click here.

Earlier stage companies currently raising seed capital may be interested in the OBIO Health MINT™ program to boost their investability and get ready for CAAP. Additional information on the 2020 Health MINT program will be provided in January.

About CAAP

OBIO has received investment from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) for CAAP. Via this program, participating companies are eligible for funding in the form of a grant.

About OBIO

The Ontario Bioscience Innovation Organization (OBIO®) is a not-for-profit, membership-based organization engaged in the development of an integrated health innovation economy for Ontario and one that will become a global leader in providing health technology products and services to the international marketplace. OBIO advances this goal through advocacy, promotion and strategic leadership and via collaborative partnerships with industry, academia, patients and government. For more information, visit www.obio.ca and follow OBIO on Twitter @OBIOscience.