Canada's Premier Business Venture Competition
TiE Toronto is pleased to announce that our TiEQuest 2011 winner, Rna Diagnostics Inc., has secured funding worth CAD$925, 000 as part of a 4 angel network investment deal.
York Angel Investors (YAI), announced today that an investment syndicate comprised of members of
York Angels , the Golden Triangle Angle Network (GTAN), the Georgian Angel Network (GAN), and the Niagara Angel Network (NAN), has closed an investment in the amount of $ CDN 925,000 in Rna Diagnostics Inc. of Toronto Ontario.
"The investment in Rna Diagnostics is particularly significant, as the raise represents the collaborative efforts of members of four angel groups from across the province of Ontario," said Rob Douglas, President of GTAN.
"We are pleased that we were contacted by Rna Diagnostics so early in their investment search and
as such, we are today, very pleased to be involved with this very exciting and promising company. We would also like to thank Marc Castel of GTAN for his work in coordinating the investment process
across the participating angel groups." said Scott MacCannell, President of York Angel Investors Inc.
"We are delighted with the investment by the accredited Ontario Angel Investment Groups," said
Dr. Ken Pritzker, President and CEO of Rna Diagnostics Inc. "This funding will support the ongoing development of RDA a groundbreaking diagnostic test that will improve patient outcomes and reduce breast cancer treatment costs."
About Rna Diagnostics: Rna Diagnostics Inc. (www.rnadiagnostics.com) is a molecular diagnostics company developing diagnostic tools to assist in the management of cancer chemotherapy. The company's first product, RNA Disruption Assay™ (RDA™), is a novel test that helps oncologists to
rapidly assess the effectiveness of cancer chemotherapy. RDA™ can determine whether chemotherapy is working effectively in the individual patient early in treatment thereby guiding clinical decision making.
We wish Rna Diagnostic team all the best going forward, we are proud of their rapid success!
President, TiE Toronto