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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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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Genome BC is pleased to announce its investment in Augurex Life Sciences Corp., through its Industry Innovation (I²) Program. Augurex is a biotechnology company transforming disease management and health outcomes for patients with autoimmune diseases affecting joints such as rheumatoid arthritis (RA).

Augurex has developed its first blood test, called JOINTstat™, which measures the 14-3-3η protein in blood for early RA diagnosis and joint damage risk monitoring. JOINTstat also predicts RA development in people with joint pain. Since 14-3-3η is a very early contributor to disease and correlates with joint damage prognosis, it facilitates the identification of patients for early RA intervention and tighter control of treatment so that clinical and remission targets can be reached; the highest priorities in rheumatology care.

“Augurex was founded on an invention shared between the University of Alberta and the University of British Columbia in 2006. The early discovery data, based on 37 patients, was convincing,” said Norma K. Biln, CEO of Augurex. “Now, JOINTstat has been studied in over 4000 patients, is Health Canada approved, launched by LifeLabs in Canada and has been in clinical use since late 2013 in the United States. Recently the test was CE marked and TGA approved making it certified for clinical use in Europe and Australia.”

“Connecting our customers to innovative tests to support them in making critical decisions about their health is what drives LifeLabs towards building a healthier Canada.” said Sue Paish, President and CEO, LifeLabs “With Augurex’s JOINTstat blood test, together with our expertise and reach, we are able to provide Canadians access to timely information to support early diagnosis and disease management to improve patient outcomes.”

A portfolio of 14-3-3η-centric biomarkers has emerged from Augurex’s work, as well as a preclinical-stage therapeutic program. RA is a chronic and debilitative disease. While many therapies are available, there is still a 30% remission rate with even the most advanced drugs. The Arthritis Alliance of Canada estimates the direct and indirect costs of RA at $5.7B annually with 1 in every 136 workers suffering from it. Beyond RA, the portfolio of 14-3-3η-centric markers has demonstrated applications in multiple autoimmune diseases with joint involvement.

“Genome BC’s investment in Augurex will help the company launch several other blood test products from their pipeline and advance their therapeutic program,” said Dr. Pascal Spothelfer, President and CEO, Genome BC. “Combined, these products could transform the management of rheumatoid arthritis with true personalized approaches.”

“From Augurex’s inception, we’ve benefited from access to government programs, angel networks, top tier Canadian scientific opinion leaders and a relationship with LifeLabs, which has allowed us to bring this homegrown innovation to Canadian patients and clinicians,” says Ms. Biln. “Often at this point, it is harder for companies to access government funding and that is why the Genome BC program comes at such a pivotal time for Augurex. Having reached a more financially secure position, this is when federal and provincial programs can make a huge difference to boost a company into global competitiveness, putting Canada in the lead on the innovation race.”

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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