PRESS RELEASE Toronto, Ontario, December 5, 2013 – Ontario Bioscience Innovation Organization (“OBIO®” or “the Organization”), a non-profit organization that is Ontario’s leading advocate for the life science sector, is pleased to announce a call for applications for the second cycle of the OBIO Capital Access Advisory Program (CAAP™).
The OBIO CAAP is an industry-led program that works to improve access to capital for Ontario bioscience companies. It is a unique program that provides companies with mentoring, strategic guidance and access to the networks from both senior members of the life science venture capital community and senior advisors from industry to prepare companies to seek capital. Through the OBIO CAAP, the Organization helps to advance the development and commercialization of medical devices, drugs and other life science technologies that can improve the lives of people in Ontario and around the world.
“The goal of the OBIO Capital Access Advisory Program is to ensure that Ontario’s human health technology companies can continue to bring their remarkable technologies to market,” said Gail Garland, President and Chief Executive Officer of OBIO. “I would like to thank the Government of Ontario and Miller Thomson for supporting this important program, and also thank all of the venture capital investment community members and industry advisors who contributed to the pilot year of the OBIO CAAP. We look forward to continuing and expanding this important initiative in 2014 and beyond.”
"Miller Thomson is a proud supporter of OBIO’s Capital Access Advisory Program,” said Robert M. Stewart, Partner, Miller Thomson LLP. “As a firm, we are excited to be involved in a program that helps great ideas and great entrepreneurs get investment ready. I wish all of the initial CAAP companies much success, and look forward to the continuation of the program in future years.”
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 “Series A” to later stages of venture financing. All high-potential bioscience companies based in Ontario that meet the requirements listed below are encouraged to apply.
OBIO CAAP Eligibility
- Companies focused on developing life science products or services including but not limited to therapeutics, medical devices, diagnostics, healthcare services or healthcare information technologies, and
- Enterprises that have already raised initial capital and are committed raising an additional round of financing in the next 12 to 18 months.
Additional information on the OBIO CAAP can be found at www.obio.ca. Applications are available by sending an email to CAAP@OBIO.ca. Applications must be received by January 20, 2014 at 12 pm ET.
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