NEWS

FACIT leads seed round in QurCan Therapeutics

5/18/2021

FACIT, a commercialization venture firm focused on advancing Ontario's top-tier oncology innovations, announced a new follow-on investment in start-up Nanology Labs ("Nanology"). FACIT led the $3M seed round, alongside co-investors Creative Destruction Lab Angels, Ontario Brain Institute, Ontario Centre of Innovation, and MEDTEQ. FACIT has previously supported Nanology, spun out of the University of Toronto, through both its early-stage Prospects Oncology Fund and seed-stage Compass Rose Oncology Fund.

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Nanology Labs clôture un tour de table de 3 millions de dollars

5/17/2021

La start-up de technologie de la santé basée à Toronto, Nanology Labs, a levé un financement de démarrage de 3 millions de dollars. La ronde était dirigée par la société de capital-risque de commercialisation FACIT, avec la participation de Creative Destruction Lab Angels, de l’Institut ontarien du cerveau, du Centre ontarien d’innovation et de MEDTEQ.

Le nouveau capital sera utilisé par Nanology Labs pour faire progresser le développement de sa nanomédecine intelligente, appelée T-MX, qui est conçue pour surmonter l’hypoxie tumorale, une cause courante de résistance dans le traitement du cancer.

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Nanology Labs Secures $3 Million in Oversubscribed Seed Round

5/17/2021

TORONTO — Nanology Labs, an IND-stage company developing next generation nanomedicines to conquer cancer, announced today that its seed capital raise was oversubscribed at $3M. The round was led by FACIT with co-investors Creative Destruction Lab Angels, Ontario Brain Institute, Ontario Center of Innovation, and MEDTEQ.

The capital will advance development of T-MX (aka Manganescan), a smart nanomedicine designed to overcome tumor hypoxia, a common cause of resistance in cancer treatment. The financing is timely as T-MX completes GLP-toxicology and GMP-manufacturing in readiness for a Ph1/2 study in patients with oligometastatic brain cancer, planned to start at the Princess Margaret Cancer Center, recognized internationally for expertise in tumor hypoxia.

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Nanology Labs closes $3 million seed round

5/17/2021

Toronto-based healthtech startup Nanology Labs has raised a $3 million seed round of funding. The round was led by commercialization venture firm FACIT, with participation from Creative Destruction Lab Angels, Ontario Brain Institute, Ontario Center of Innovation, and MEDTEQ.

The fresh capital will be used by Nanology Labs to advance the development of its smart nanomedicine, called T-MX, which is designed to overcome tumour hypoxia, a common cause of resistance in cancer treatment.

According to Mohammad Amini, CEO and co-founder of Nanology Labs, the startup’s polymer-lipid platform develops nanoparticles that are transported into human cells. Its T-MX product specifically is designed for cancer cells and generates molecules that “reprogram” hypoxic tumours. The product is aimed to boost immunogenic cell health and makes it easier for solid tumours to be destroyed by radio, chemo, and immunotherapy.
In 2019, Nanology Labs received an undisclosed investment from the FACIT Prospects Oncology Fund. In 2018, the startup was one of six to receive $50,000 from the Ontario Brain Institute as part of its early-stage neuro-technology entrepreneur awards.

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Nanology Labs Receives Investment from Oncology Research Fund

4/9/2021

Nanology Labs, a pharmaceutical startup based out of the University of Toronto, has received an investment from the FACIT Prospects Oncology Fund, which was designed to advance Ontario’s cancer research innovations by supporting proof-of-concept studies and projects. The amount the fund is investing has not been disclosed.

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FACIT announces follow-on investments in Nanology Labs through Compass Rose Fund

1/28/2020

FACIT, a commercialization venture firm focused on advancing Ontario’s top-tier oncology innovations, announced new follow-on investments in start-ups Xpan Inc. (“Xpan”) and Nanology Labs (“Nanology”). Spun out of the University of Toronto, both start-ups have previously received funding through FACIT’s proof-of-concept Prospects Fund that enabled the companies to address key commercialization challenges. Upon successfully achieving initial business targets, these start-ups and their respective technologies have been elevated to an equity-based investment through FACIT’s seed stage Compass Rose Fund.

Nanology has developed a first-in-class theranostic agent enabling real-time tumor detection and radio-sensitization. In animal models, this agent is safer and more sensitive than MRI contrast agents currently available. It simultaneously oxygenates the tumor area leading to an improvement in radiation therapy efficacy. “FACIT’s follow-on investment is critical in enabling our technology to reach its next inflection point, moving closer to the clinic and positioning our company for further investment,” said Dr. Mohammad Ali Amini, Co-Founder and CEO of Nanology.

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Winner of the MEDTEQ Investment Pitch

1/13/2020

The 2020 MEDTEQ Innovation Summit will provide 5 Canadian healthtech start-ups with the opportunity to showcase their company in front of high profile investors, potential clients and partners during a cocktail reception by invitation. Each selected company will have five minutes to present its solution and technology and try to secure up to a $200,000 investment from the MEDTEQ investment fund.

A MEDTEQ Invest cocktail reception: More than 50 companies applied to present their technological solution at an invitation‐ only cocktail party attended by numerous investors, with $200,000 at stake. The winner, Nanology Labs, will be able to appear before the MEDTEQ investment committee.

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Nanology receives FACIT Investment for Early-Stage Cancer Innovations

4/8/2019

“This seed funding is critical in enabling our technology to reach its next inflection point, moving our system closer to the clinic and positioning our company for further investment,” said Dr. Mohammad Ali Amini, CEO and Co-Founder of Nanology Labs. “We were fortunate to have been chosen as a finalist in FACIT’s 2018 pitch competition, which helped to strengthen our subsequent application to the Prospects Fund.”

As part of FACIT’s suite of commercialization initiatives, investment programs and services, the Prospects Oncology Fund strives to advance Ontario’s cancer research innovations by supporting proof-of-concept activities. The Prospects Fund frequently receives applications from groups who have previously participated in FACIT’s annual Falcons’ Fortunes pitch competition. Any Ontario-based oncology researcher may submit an abstract to the pitch competition. From all abstracts received, six finalists are then invited to pitch their innovations to a diverse panel of expert judges, with the winner receiving the $50,000 Ernsting Entrepreneurship Award. FACIT runs the annual pitch competition as part of its broader mandate to build a culture supportive of entrepreneurship and commercialization in Ontario, generating a source of deal flow and investment opportunities from across the province.

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Nanology Labs Takaes Home First Prize at RBC Pitch Competition

3/24/2019

Nanology Labs' CEO and Founder, Mohammad Amini, presented his cancer-treating nanotechnology startup with an air of confidence and insightful clarity in the RBC Prize for Innovation & Entrepreneurship, which is an annual pitch competition as the finale of the True Blue Expo, the capstone event of U of T Entrepreneurship Week.

Nanology Labs won the $25,000 Later Stage first prize victory due to its idea of “non-toxic MRI contrast agent” called Manganescan that is more effective in detecting early-stage brain tumors addressing the current societal problem of merely detecting brain cancer in the advance stage. On top of Nanology Labs' already developed prototype that has been pre-clinically validated, it will begin scaling up production this year and validate its safety in dogs. Amini aims to manufacture formula for clinical trials by 2021 and launch the product by 2024. With a conservative estimate, the company is expected to bring in $120 million to $150 million annually by 2029.

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Nanology Labs Won $50,000 from the Ontario Brain Institute

10/4/2018

Nanology Labs receives $50,000 from the Ontario Brain Institute's ONtrepreneurs program - Canada’s largest single award focused on neurotechnology.

Canada’s most prestigious early-stage neurotechnology entrepreneur awards were announced today by the Ontario Brain Institute (OBI). The ONtrepreneurs program, the single largest funder of early-stage neurotech entrepreneurs in Canada, is investing in six early-stage ventures this year to help accelerate their path to commercialization through access to funding, resources, and mentorship.

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