Genome British Columbia (Genome BC) has invested $1.13 million into Arbutus Medical Inc., a BC-based medical device company developing innovative surgical drill technology and procedure kits that improve hospital workflow and reduce costs to treat patients.

Matching funds have come from a syndicate of Canadian health tech and impact investment funds, including Nimbus Synergies, the Pan-Canadian consortium MEDTEQ+, and the ScaleGood Impact Fund. There is the potential of additional matching funds by the end of March 2023.

This investment supports the development of Arbutus Medical’s TrakPak®, a complete single-use procedure kit for skeletal traction with everything a surgeon needs in one place, pre-sterile, ready to use at the bedside. The kit can save orthopaedic trauma teams upwards of 45 minutes of preparation time per procedure, helping hospitals operate more efficiently, reduce costs, improve patient experiences, and expand access to safe surgical care.

“We are setting a new standard of care for skeletal traction,” says Lawrence Buchan, Chief Executive Officer at Arbutus Medical Inc. “The current workflow for these procedures takes a very long time, frustrates staff, and slows down treatment for someone with a horrible injury.

“The TrakPak® skeletal traction procedure kit eliminates this problem and delivers a better solution for patients, providers, and the hospital’s bottom line. This financing will allow us to launch the next generation of TrakPak® in 2023 and rapidly scale up.”

Arbutus Medical adapts DEWALT® power tools into sterile surgical drills for hospitals and field settings. The company has developed methods to create a sterile enclosure around a nonsterile power drill so it can be safely used in surgery. This technology means that hospitals do not need to sterilize a drill between surgeries, providing a significant cost advantage compared to conventional sterilizable drills. The system has been approved for human use by the FDA and Health Canada. TrakPak® is the company’s first complete procedure kit to include their novel drill technology.

Genome BC’s investment is made through its Industry Innovation (I²) Fund, which provides commercialization support for companies developing innovative life science technologies that address biological challenges in key economic sectors in BC: Agriculture, Energy and Mining, Environment, Fisheries and Aquaculture, Forestry, and Human Health.

“Genome BC’s I² Fund exists to bridge the gap between innovation and commercialization in BC,” says Dr. Tony Brooks, Chief Financial Officer and Vice President, Entrepreneurship & Commercialization at Genome BC. “We’re excited about the potential for Arbutus Medical’s products to help hospitals operate more efficiently, reduce costs, improve patient experiences and expand access to safe surgical care.”

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Rehabtronics Receives $1.25 Million from Genome BC to Enable Free Quality Improvement Trials of Prelivia, a Medical Device Designed to Protect Against Deadly Pressure Damage

Genome BC is providing $1.25 million to support commercialization of Prelivia, the world’s first neuroscience-based technology designed to protect patients against deadly pressure injuries (also known as bed sores and pressure ulcers). Despite an estimated $26 billion spent on current treatments, pressure injuries kill 60,000 people every year in the United States alone.

Prelivia is patented and has been scientifically proven through animal and human studies.

The funds will facilitate free 90-day quality improvement trials of Prelivia at qualified healthcare facilities in the United States. Rehabtronics is inviting applications for the free trials now. Genome BC is allocating the funding from its Industry Innovation Program (I²), which supports promising technologies at early stages of commercial development.

“Genome BC has an impressive track record of supporting the most innovative companies in Western Canada and we are honoured by their vote of confidence in our team and technology,” said Dr. Rahul Samant, CEO of Rehabtronics. “This investment accelerates our plan to help health care facilities fight deadly pressure injuries. We look forward to implementing more quality improvement trials of Prelivia at qualified healthcare institutions in the United States.”

Prelivia has already gained U.S. Food and Drug Administration 510 (k) Clearance to promote healthy blood circulation and maintains healthy tissue in immobile patients. The neurostimulation device is the first product to address the underlying physiological pathway of pressure injury development, which is the lack of blood flow and oxygen to the tissue.

Prelivia is patented and has been scientifically proven through animal and human studies. The technology is currently part of the Protect2 multicentered randomized controlled study to further validate its effectiveness in decreasing progression and facilitating healing of pressure injuries. The Cleveland Clinic Foundation is currently recruiting participants.

“Genome BC invests in cutting-edge, innovative life sciences companies,” said Dr. Tony Brooks, Chief Financial Officer and Vice President, Entrepreneurship & Commercialization at Genome BC. “Rehabtronics has demonstrated there is an unmet need for this type of innovative product. Our investment will support the commercialization of Rehabtronics’s device to improve health care outcomes across multiple care settings, such as hospitals, long-term care facilities and in-home personal care.”

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Genome BC has invested $1.2 million into a Vancouver-based startup that is providing innovative, next-generation knee-bracing technology. Stoko Design Inc. is redefining how athletes prevent and recover from injuries with the development of a new retail category they call supportive apparel, incorporating medical-grade bracing into everyday athletic clothing.

Stoko’s first-to-market product, the K1, is a beautifully designed compression tight with integrated joint support that mimics the body’s natural structures to give the support of a traditional knee brace with unparalleled comfort.

“We believe that traditional bracing is obsolete, as many medical practitioners are already moving towards active rehabilitation methods,” said Zack Eberwein, Chief Executive Officer at Stoko. “The K1 is uniquely positioned for this type of treatment, offering athletes and practitioners the ability to adjust support for any level of instability or activity as they return to sport after an injury. Local investors, such as Genome BC, have been and will continue to be critical in enabling companies like ours to commercialize game-changing technologies and expand market share.”

Unlike its traditional competitors, Stoko has both a strong direct-to-consumer and business to business model. The K1 is eligible for medical coverage by some healthcare providers and is available through Stoko’s e-commerce platform, through various medical professionals, and in several specialty retail stores.

The K1 offers medical-grade bracing to support athletes through training, and recovery. Integrated non-stretch cables and anatomically mapped support ensure that the knee gets support, comparable to a traditional brace, within the compression tight.

“Genome BC invests in cutting-edge, innovative life sciences companies,” said Dr. Tony Brooks, Chief Financial Officer and Vice President, Entrepreneurship & Commercialization at Genome BC. “Stoko has demonstrated there is a market and an unmet need for this type of product. Our investment will be directed  towards manufacturing and marketing efforts to help grow the company.”

Genome BC has invested in Stoko through its Industry Innovation (I²)program. The I² Fund provides commercialization support for companies developing innovative life science technologies that address biological challenges in key economic sectors in BC: Agriculture, Energy and Mining, Environment, Fisheries and Aquaculture, Forestry, and Human Health. The I² Fund also supports digital health and other technologies that further move precision medicine into clinical practice. I² funding is repayable and is allocated to promising technologies (products, processes or services) at the early stages of commercial development. The fund aims to provide risk capital that is concurrently matched by other public or private funding sources.

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Genome BC is pleased to announce $1 million in funding to Sonic Incytes Medical Corp., completing the company’s seed financing round of over CDN$3.5 million supported by institutional investors, angel funds and private individuals. Vancouver based Sonic Incytes is developing a breakthrough, point of care ultrasound solution for assessing and managing chronic liver disease – an emerging global health crisis, affecting one in four persons worldwide.

In addition to Genome BC’s investment, Sonic Incytes also raised over $2.5M in seed financing from institutional investors Small World Group, Think Top Investments and Sunhope Venture Capital, as well as angel investors World Changing Ventures, TMFOX, UBC Seed Fund and E-Fund.

Fatty liver disease is the fastest growing and largest segment of chronic liver disease, driven largely by the increasing prevalence of diabetes and obesity. The continued growth in patients and emergence of potential new therapies creates an urgent need for a cost-effective, quick, and accurate diagnostic solution to assess and manage the progression and treatment of this disease.

“We are pleased to provide Sonic Incytes with $1 million in capital through our Industry Innovation (I²) Fund,” says Dr. Tony Brooks, Chief Financial Officer and Vice President, Entrepreneurship  & Commercialization at Genome BC. “Our investment, alongside funding from other investors, will help Sonic Incytes commercialize this innovative solution and make a significant difference in the management of liver disease and improve overall health and wellness.”

“This financing will go a long way in helping us redefine the standard of care in quantifying fatty liver disease. Physicians will soon be able to accurately diagnose liver disease with a solution comparable to MRI,” said George Aliphtiras, CEO, Sonic Incytes Medical Corp. “Access to a point of care diagnostic solution that replaces biopsy and MRI is an urgent unmet need for effective patient management, and we are ideally positioned to address this emerging health crisis.”

Currently definitive diagnostic tools for fatty liver disease are limited to biopsy and MRI, which are expensive, invasive and time-consuming. Sonic Incyte’s portable, handheld solution uses technology similar to MRI elastography, quantifying liver disease using 3D tissue sampling. It is a point of care solution that provides consistently accurate results, and a clear picture of liver health in real time, so that physicians can be confident in their diagnosis, treatment and care. In addition, the entire procedure takes about five minutes in a doctor’s office, contributing to a quick, safe and comfortable patient experience.

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Canadian UV-LED Water Disinfection Company Empowering Safe Drinking Water Globally

Vancouver, Canada — Safe water supply and adequate sanitation to protect health are basic human necessities. However, the World Health Organization (2017) reports that 3.4 million people, mostly children, die from water-related diseases each year. Access to safe drinking water contributes to improved health, reduced risk of waterborne diseases. Acuva’s compact, energy efficient UV-LED water treatment technology offers huge potential to address this global issue.

Acuva’s proprietary IntenseBeam™ technology, developed in partnership with the University of British Columbia, combines the proven performance of UV disinfection with the energy efficiency of LEDs, maximizing available UV power through optical lensing. This purifies drinking water with microbial disinfection rates up to 99.9999% to protect health and safety without adding any chemicals into the water.

“Our UV-LED water disinfection technology enables clean drinking water globally and protects health to improve lives, all while reducing the need for single-use plastic drinking water bottles,” said Manoj Singh, President & CEO of Acuva Technologies. “This funding from Genome BC’s I² Program will help Acuva’s rapid growth and achieve our vision of creating a positive global impact while addressing the need for safe drinking water.”

Through its Strike Platform of customizable UV-LED drinking water disinfection modules, Acuva is helping make safe drinking water more accessible through its partnerships with global Original Equipment Manufacturers (OEMs) of water, ice and beverage dispensing appliances. These low-power, maintenance-free systems offer product enhancement while optimizing cost of ownership. Advanced applications of this technology also include integration into lab water equipment.

“Our province still has communities where safe drinking water is not consistently available,” says Dr. Tony Brooks, Chief Financial Office and Vice President, Entrepreneurship and Commercialization. “Genome BC not only seeks to better the lives of British Columbians through this investment, but also to support global efforts for the millions of people around the world who still struggle on a daily basis for access to clean water.”

Genome BC has invested $1 million in Acuva Technologies through its Industry Innovation (I²) program. The I² Fund provides commercialization support for companies developing innovative life science technologies that address biological challenges in key economic sectors in BC: Agriculture, Energy and Mining, Environment, Fisheries and Aquaculture, Forestry, and Human Health. The I² Fund also supports digital health and other technologies that further move precision medicine into clinical practice. I² funding is repayable and is allocated to promising technologies (products, processes or services) at the early stages of commercial development. The Fund aims to provide risk capital that is concurrently matched by other public or private funding sources.

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Genome BC is pleased to announce $1 million in funding to Aspect Biosystems (Aspect), a privately held biotechnology company focused on commercializing cutting-edge 3D bioprinting technologies.

Aspect’s Lab-on-a-Printer™ 3D bioprinting platform technology enables the rapid creation of functional living tissues. The therapeutic applications are broad and profound and have attracted the attention of global pharmaceutical and biotechnology companies.

“Genome BC’s investment in Aspect Biosystems will provide funds to further their commercialization initiatives including partnership activities as well as development of their platform technology,” says Dr. Tony Brooks, Chief Financial Officer and Vice President, Entrepreneurship and Commercialization at Genome BC. “Aspect has shown significant commercial traction in a very short period of time and we are pleased to support their continued growth.”

Aspect’s 3D bioprinting platform technology is enabling the development of next-generation engineered tissue products addressing multiple applications in therapeutic discovery and regenerative medicine. These products include predictive drug testing platforms as well as transplantable tissue therapeutics. In addition to its internal programs, Aspect is establishing strategic partnerships with pharma, biotech, and healthcare companies as well as academic researchers to realize the full potential of its broadly applicable platform technology. By combining their expertise and technology with domain experts in the field, Aspect is accelerating the development of innovative tissue applications and creating meaningful impact on medical research and practice.

“Genome BC is playing an instrumental role in accelerating British Columbia’s most promising life science innovations and we are thrilled to have their support. With this additional financing, we are further increasing our capacity to meet key commercial demands and continuing our rapid growth as we work towards enabling the creation of human tissues on demand,” says Tamer Mohamed, President and CEO, Aspect Biosystems.

Genome BC has invested in Aspect through its Industry Innovation (I²) program. The I² Fund provides commercialization support for companies developing innovative life science technologies that address biological challenges in key economic sectors in BC: Agriculture, Energy and Mining, Environment, Fisheries and Aquaculture, Forestry, and Human Health. The I² Fund also supports digital health and other technologies that further move precision medicine into clinical practice. I² funding is repayable and is allocated to promising technologies (products, processes or services) at the early stages of commercial development. The Fund aims to provide risk capital that is concurrently matched by other public or private funding sources.

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Genome BC invests in local microbiome startup.

As part of its Industry Innovation Program (I² Fund), Genome BC is investing CAD $750,000 in a local microbiome testing company—Vancouver-based Microbiome Insights (MBI), which provides next-generation-sequencing-based analytical testing and consulting services to microbiome researchers in academia and industry. The new funding adds to the company’s recent round of equity financing, which closed in October.

Microbiomes are the communities of microorganisms – including bacteria, viruses and fungi – that inhabit humans, animals, plants and other environments. These tiny universes perform diverse functions; microbiomes are critical to human health, affecting immune system function, vitamin and hormone synthesis, drug metabolism and energy harvest from the diet.

Detrimental changes to the human microbiome have been linked to allergies, asthma, colon cancer, C. difficileinfections, diabetes, inflammatory bowel disease, obesity, neurodevelopment and neurodegenerative disease and many other diseases. Genomic tools are yielding a growing body of knowledge about these links, paving the way for new opportunities to develop microbiome-based clinical grade diagnostics and therapeutics.

Malcolm Kendall, CEO of Microbiome Insights, says, “The explosive growth in microbiome research – given its fundamental importance to human, animal, plant and environmental health – has significantly outpaced existing capacity to provide microbiome testing, especially outside of academia. The building of this new industry is a unique market opportunity.”

“At Microbiome Insights, our ability to advance innovation through microbiome analysis is borne out by our rapid growth and expanding client list. We offer scientific leadership and customized solutions for our clients’ unique research challenges,” says Kendall.

A recent estimate put the global microbiome sequencing services market at over USD $500 million in 2016. With microbiome knowledge in the nascent phase, significant investment potential exists in this burgeoning market environment.

Dr. Tony Brooks, Chief Financial Officer and Vice President, Entrepreneurship and Commercialization at Genome BC, says, “Our I² financing of $750,000 combined with MBI’s recent round of equity funding will be used to accelerate MBI’s sales and marketing activities, make new hires, the buildout of a new CLIA-certified lab facility, and the development and launch of new services and personal health test products.”

Genome BC’s I² Fund provides commercialization support for companies developing innovative life science technologies that address biological challenges in key economic sectors in BC: Agriculture, Energy and Mining, Environment, Fisheries and Aquaculture, Forestry, and Human Health. The I² Fund also supports digital health and other technologies that further move precision medicine into clinical practice. I² funding is repayable and is allocated to promising technologies (products, processes or services) at the early stages of commercial development. The Fund aims to provide risk capital that is concurrently matched by other public or private funding sources.

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