PRESS RELEASE Ontario Bioscience Innovation Organization Announces a Call for Life Sciences Companies to Apply for the OBIO Capital Access Advisory Program
Toronto, Ontario, December 2, 2014 - Ontario Bioscience Innovation Organization (“OBIO®” or “the Organization”), a non-profit organization that is Ontario’s leading advocate for the life sciences sector, is pleased to announce a call for applications for the third cycle of the OBIO Capital Access Advisory Program (CAAPTM). 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 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.
“Going into the third year, the goal of the OBIO Capital Access Advisory Program continues to be to ensure that Ontario’s human health technology companies can bring their remarkable technologies to market,” said Gail Garland, President and Chief Executive Officer of OBIO. “I would like to thank all of the venture capital investment community members and industry advisors who contributed to the second year of OBIO CAAP. We look forward to continuing and expanding this important initiative in 2015 and beyond, and thank the Government of Ontario for contributing support to this important program.”
“OBIO’s CAAP is unique. CAAP provides Ontario pre-venture companies with benefits that come with venture backing, and builds organizations by bringing mentoring, strategic guidance and networks of senior members of the venture and life sciences communities to earlier stage enterprises. We are proud to see the success of the CAAP Companies raising capital and expanding operations. We have great expectations for the future of this initiative under OBIO’s stewardship,” said Damian Lamb, Managing Director, Genesys Capital and Chair, OBIO CAAP Steering Committee.
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, or healthcare information technologies, and
- Enterprises that have already raised initial capital and are committed raising an additional “Series A” or later round of financing in the next 12 to 18 months.
Information Session and Applications An information session for companies that want to apply to OBIO CAAP will be held on December 11, 2014 at 11 am by teleconference. To register, please email CAAP@OBIO.ca. Additional information on OBIO CAAP can be found here. Applications are available by sending an email to CAAP@OBIO.ca. Applications must be received by January 16, 2015 at 5 pm ET.
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 that will become a leader in providing health technology to the international marketplace. OBIO advances this goal through advocacy, promotion and strategic leadership and via collaborative partnerships with industry, academia, patients and government.