TORONTO--Ontario Bioscience Innovation Organization (OBIO®), a not-for-profit membership based organization that is Ontario’s leading advocate for the health science industry, announced today that Ontario health science companies that have participated in its Capital Access Advisory Program (CAAP®) have raised more than $109 Million since the CAAP program launched in 2013.
“OBIO is so proud of the success of the Ontario health science companies that have been part of the CAAP program and have continued to grow their businesses,” said Gail Garland, President and CEO of OBIO. “Helping Ontario health science companies build is the strength of the OBIO and its programs, like CAAP, and in 2018, OBIO will continue to build on our successes as we work to develop the environment that companies need to flourish in Ontario.”
OBIO CAAP is a unique, industry-led initiative that provides selected high-potential Ontario health science companies with mentoring, strategic guidance and access to an expansive network of health science industry experts and investors to enhance the ability of OBIO 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.
“Our experience with the OBIO CAAP program really improved our investor readiness,” said Joe Eibl, CEO and Co-Founder of Flosonics Medical, a 2017 CAAP Company. “The feedback we received from the industry experts on the CAAP Steering Committee and from the OBIO team helped us refine our pitch deck and deliver a more effective pitch to investors. I would encourage any health science company that is getting ready for a Series A to apply to CAAP.”
Launched in 2013, the OBIO Capital Access Advisory Program operates downstream from other programs and targets the critical issue of access to capital at the post-seed stage of venture financing. To date, 47 CAAP companies have been advised and supported by OBIO and industry experts. From time of entry into the program, CAAP companies have increased their employees by 49 per cent. OBIO CAAP is generously supported by the Federal Government and the Government of Ontario.
“The OBIO CAAP program was invaluable in supporting our company as we prepared to move into the next phase of our development,” said Liam Kaufman, CEO of Winterlight Labs, a 2017 CAAP Company. “Being part of CAAP not only provided us with great strategic advice on our next steps and helpful feedback from the expert Steering Committee, we also benefitted from warm introductions to investors. I would strongly recommend any health science company apply to CAAP and take advantage of the OBIO team and its wealth of industry knowledge.”
Applications for CAAP 2018 are now open. The deadline for applications is December 22nd, 2018 at 5:00pm EDT. All high-potential health science companies based in Ontario that meet the requirements listed below are eligible to apply:
OBIO CAAP Eligibility
- Companies focused on developing health 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 post-seed round of financing in the next 12 to 18 months.
1. Download the OBIO Capital Access Advisory Program application form & checklist here.
2. Complete the form and the checklist, and make sure all items on the checklist are addressed by your stand-alone, non-confidential PowerPoint pitch deck.
3. Submit your PowerPoint pitch deck, application form & checklist here.