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Facit Invests in Four Oncology Companies

Facit

Facit, a Toronto, Ontario, Canada-based commercialization venture firm, announced investments in four breakthrough oncology innovations – all driven by women leaders.  

The four ventures include Virano Therapeutics, Hyivy Health, Tenomix Inc., and DTPx Therapeutics.

Led by life sciences ecosystem veteran Ella Korets-Smith, Toronto and Ottawa based Virano Therapeutics is developing its proprietary molecules that temporarily dampen the immune system to give virus-based cancer therapies a greater chance to take hold and fight cancer cells.  

Led by Rachel Bartholomew, Founder and CEO, Kitchener-Waterloo-based Hyivy Health is a patient-centered medtech company dedicated to improving pelvic health. With Facit’s support, Hyivy is conducting trials on their pelvic rehabilitation system, called Floora, to demonstrate its clinical efficacy for regulatory approval.

Led by Dr. Eveline Pasman, London, Ontario based Tenomix aims to automate and improve efficiency of lymph node resection following surgery for colorectal cancer. 

Led by Dr. Sumaiyah Rehman, who won Facit’s Falcons’ Fortunes pitch competition earlier in 2023, and Dr. Catherine O’Brien, DTPx Therapeutics are advancing therapeutics to prevent relapse in patients treated for colorectal cancer.

These four Ontario start ups are each at various early stages of development and span the continuum of Facit’s commercialization and investment programs. Facit’s Falcons’ Fortunes, Prospects Oncology Fund, and Compass Rose Oncology Fund help to bridge the seed funding gap and support entrepreneurship and commercialization in the province, while bringing cancer solutions to benefit patients sooner. 

FACIT is an commercialization venture firm that builds companies with entrepreneurs to accelerate oncology innovation, with a portfolio that has attracted more than $1.5 billion in investment to Ontario.

VCWire

21/11/2023