Toronto, Ontario, November 3, 2015 – Ontario Bioscience Innovation Organization (OBIO®), a not-for-profit organization that is Ontario’s leading advocate for the life sciences sector, is pleased to announce a call for applications for the 2016 OBIO Capital Access Advisory Program (CAAP®).
OBIO CAAP is a unique, industry-led initiative that provides selected high-potential Ontario bioscience companies with mentoring, strategic guidance and access to an expansive network of life science industry experts and investors to enhance the ability of CAAP Companies to secure financing. Through CAAP, OBIO is advancing and accelerating the development and commercialization of therapeutics, diagnostics, medical devices, and health IT products and services to benefit Ontario and global human health.
“As we look ahead to the fourth year of the OBIO Capital Access Advisory Program, we continue to see the benefit that CAAP provides to ensure that Ontario’s industry-leading bioscience technology ventures can succeed,” said Gail Garland, President and Chief Executive Officer of OBIO. “We will continue to expand this important initiative in 2016 and beyond, and thank the Federal Government and the Government of Ontario for contributing support to this important program. Thank you to the venture capital investment community and industry advisors from across North America and beyond for endorsing CAAP and providing invaluable assistance to the CAAP Companies.”
“OBIO’s CAAP program has been oversubscribed since its inception, reflecting its importance within the life sciences company ecosystem in Ontario. CAAP provides Ontario bioscience companies with advice and guidance from experienced entrepreneurs and investors, enabling them to attract financial and human capital, build businesses with a global reach, and contribute to the economy,” said Brian Underdown, Managing Director, Lumira Capital and Chair, OBIO CAAP Steering Committee. “We look forward to continuing to strengthen the program and build CAAP in the coming 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, or healthcare information technologies, and
• Enterprises that have already raised initial capital and are committed to raising a Series A or subsequent round of financing in the next 12 to 18 months.
For more information and to request an application, please see the visit the OBIO website here. The deadline for 2016 CAAP Applications is December 23rd, 2015 at 5 pm ET.
An information session for companies that want to apply to OBIO CAAP will be held on November 16, 2015 at 12 pm by teleconference. To register, please email CAAP@OBIO.ca.
Earlier stage companies which have not raised seed capital may be interested in the OBIO Pre-CAAP program to boost their investability and get ready for CAAP. Additional information on the 2016 Pre-CAAP program will be provided in January.
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