OBIO Launches Pre-Capital Access Advisory Program (Pre-CAAP) - Builds on Successful Capital Access Advisory Program (CAAP™) Improving financing success of Ontario bioscience companies
Toronto, Ontario, August 10, 2015 – Ontario Bioscience Innovation Organization (OBIO®) today announced the launch of the inaugural round of Pre-CAAP, a program in support of Ontario bioscience companies that aim to raise “Series A” and later rounds of private financing within the next two years. Access to capital has been and continues to be the number one challenge for bioscience start-ups in Ontario. Pre-CAAP combined with OBIO’s distinctive Capital Access Advisory Program addresses this problem by providing companies with advice and guidance to position them for financing success.
“With the success to date of OBIO CAAP in helping build the Ontario bioscience SME sector, we recognize the need to help equip all companies interested in applying to our unique CAAP program,” said Gail Garland, President and CEO of OBIO. “Pre-CAAP is intended to benefit all participants through a suite of workshops, one-on-one advice and opportunities to meet with peers and thought leaders.”
Operating upstream of OBIO CAAP, Pre-CAAP benefits companies that will have raised “seed” or later rounds of financing by the end of 2015 and that plan to apply for the next cycle of OBIO CAAP. Pre-CAAP will start mid-September and conclude December 31st, 2015 and will offer:
- A balanced suite of workshops designed to help Pre-CAAP companies refine their business strategies and prepare to apply to OBIO CAAP in 2016.
- Individualized sessions with OBIO to review investor pitch presentation.
- One-on-one business strategy advice coaching from OBIO.
- Networking opportunities with fellow bioscience CEOs and seasoned entrepreneurs.
Pre-CAAP is open to all private Ontario companies focused on developing life science products or services including but not limited to: therapeutics, medical devices, diagnostics or healthcare information technologies. While Pre-CAAP will have particular appeal to companies planning to apply to OBIO’s CAAP program, all companies that meet certain simple eligibility criteria are invited to register and participate in Pre-CAAP. Additional information about Pre-CAAP can be found on the OBIO website here.
To ensure maximum benefit from the program, companies are encouraged to register by September 1st, 2015. The registration form including eligibility criteria can be found here.
OBIO will hold an information session on Pre-CAAP by webinar August 18th, 2015 from 8:30 - 9:30 am. To register for this session, click here.
Pre-CAAP is free for OBIO members. Non-member companies are required to pay $200 plus HST which includes an OBIO membership until the end of 2015 with access to all member benefits.
For additional information on Pre-CAAP please contact Klaus Fiebig, CAAP Senior Director, Strategic Programs at KlausFiebig@obio.ca.
About OBIO CAAP
CAAP is a unique, industry-led program, designed to enhance the investment-readiness profiles of Ontario health science companies. CAAP operates downstream from existing entrepreneurship programs and targets the critical issues of access to capital at the “Series A” and later stages of private financing. Led by OBIO and a North American Steering Committee of life science venture capitalists and serial entrepreneurs, OBIO CAAP companies work closely with a team of CAAP Advisors to position them for successful fundraising. OBIO CAAP is supported in part by the Federal Economic Development Agency for Southern Ontario and the Province of Ontario.
For more information on OBIO CAAP, visit the OBIO website here.
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 and one that will become a global leader in providing health technology products and services to the international marketplace. OBIO advances this goal through advocacy, promotion and strategic leadership and via collaborative partnerships with industry, academia, patients and government.
For more information, visit the OBIO website www.obio.ca and follow OBIO on Twitter @OntBioscience.
Senior Director, Programs
416-848-6839 ext. 102
CAAP Senior Director, Strategic Programs
416-848-6839 ext. 105