Friday | March 19, 2021
CEO MESSAGE
LifeSciences BC’s inaugural Investor Readiness Program (IRP) wrapped up last week. The six-month program brought together 10 EIRs to mentor 10 early-stage SMEs in their journey to be become Investor ready. The program included 1:1 coaching, interactive educational seminars, 6 & 12 week goal setting, peer-to-peer feedback, conference opportunities and group meetings. The program culminated with each company presenting to representatives from Investors, Industry, and Government trade officers. Congratulations to the following companies and leaders for completing the programs.

SME Participants 


A very big thank you to our Mentors: Ali Ardakani, Betsabeh Hermann, Brenda Irwin, Jason Robertson, Livleen Veslemes, Malcolm Kendall, Nancy Harrison, Natalie Dakers, Sacha Mann and Sam Mercer who made this program such a success. They shared their invaluable insight and experience with not only their matched companies, but also provided feedback and advice to all the companies in the group sessions. Thank you again, we are extremely grateful for all the time you gave to the Program.
  
This week COVID-19 vaccines continue rolling out throughout B.C., with age groups being expedited and the entire community of Prince Rupert being vaccinated (an island town with a large Indigenous population and outbreak putting them at risk.) Yesterday, Premier John Horgan, Dr. Bonnie Henry and Dr. Penny Ballem announced that more than 300,00 front-line workers will be eligible for COVID-19 vaccinations outside the current age-based system, starting in April. Full details can be found in the B.C. government news release here.

It was a busy week of announcements for many of our members. Here are a few which we wanted to highlight: 

  • iCo Therapeutics announced an agreement to human testing of its novel oral amphotericin B asset ("iCo-019") against the COVID-19 virus. This work, which comes out of research from UBC, is being done in partnership with IIT Research Institute through ICo’s subsidiary, Amphotericin B Technologies, Inc. Good luck to the team!
  • Vancouver-based Eupraxia Pharmaceuticals completed its initial public offering, issuing 5,125,000 units at a price of $8.00 per unit for gross proceeds of $41,000,000. This will assist the company in developing its portfolio of drug candidates in the areas of osteoarthritis, post-surgical pain, anti-infectives, oncology and veterinary medicine.
  • Quark Venture LP and GF Securities participated in the $25 million financing of EyeYon Medical, to advance its EndoArt® clinical trials. This investment was made through the Global Health Sciences fund and will enable the corneal healing solutions provider to accelerate its EndoArt® clinical trials in USA, China and Europe.

Bloom Burton announced the companies that have been invited to participate in their prestigious Bloom Burton & Co Healthcare Investor Conference on April 20th/21st. Congratulations to the following LifeSciences BC members: 


Other notable BC companies invited include: AlayaCare, ARTMS, Canary Medical, CloudMD Software & Services, Immunoprecise Antibodies and WELL Health Technologies. 

Lastly, the 2021 New Ventures BC Competition, presented by Innovate BC, is now open. Early-stage startups can enter for a chance at $250,000 in cash prizes, as well as the honour of being named the province's top startup. Applications close on Monday, April 12th at 10:00 p.m. PST and can be submitted here. 

Before signing off this week, congratulations to Andrew Petter for being appointed as the new Chair of Innovate BC. 
Platinum Sponsors
Eupraxia Pharmaceuticals Inc. Completes Initial Public Offering
VICTORIA, BC, March 9, 2021 /CNW/ – Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”), a Phase 2 clinical-stage biotechnology company with an innovative drug delivery technology platform, today announced the completion of its initial public offering (the “Offering“) of 5,125,000 units of the Company (the “Units“) at a price of $8.00 per Unit for gross proceeds to the Company of $41,000,000. READ MORE
CalciMedica Announces $21 Million Series D Financing
LA JOLLA, Calif., March 11, 2021 (GLOBE NEWSWIRE) — CalciMedica Inc. (“CalciMedica” or the “Company”), a clinical-stage biotechnology company targeting calcium release-activated calcium (CRAC) channels for the treatment of severe acute and chronic inflammatory diseases, today announced it has secured a $21 million Series D financing led by Quark Venture LP and GHS Fund (Quark Venture LP and GF Securities) and joined by previous investors, Valence Life Sciences and Sanderling Ventures. READ MORE
Variantyx Secures $20M in Funding for Whole Genome Sequencing Methodology, Advanced Testing Method that Diagnoses Genetic Disorders
Boston, MA – March 15, 2021 (BUSINESS WIRE) Variantyx, a leader in high complexity hereditary disease testing, today announced that they secured $20M in funding for their Whole Genome Sequencing (WGS)-based testing methodology, an advanced genetic testing method currently used to diagnose rare inherited and neurological disorders. READ MORE
Global Health Sciences Fund (Quark Venture LP and GF Securities) Participates in $25 Million Financing for EyeYon Medical’s EndoArt® Clinical Trials Across Three Continents
Vancouver, March 15, 2021: Quark Venture LP (Quark) and GF Securities participated in the $25 million financing of EyeYon Medical, to advance its EndoArt® clinical trials. This investment, made through the Global Health Sciences (GHS) fund, was led by a global ophthalmology industry leader and CRCP alongside new and existing shareholders BPC, Diamond BioFund, Rimonci, Pontifax and Triventures. READ MORE
Applications open for the 21st annual New Ventures BC Competition
March 15, 2021 – The 2021 New Ventures Competition, presented by Innovate BC, is now accepting applications. Innovative tech startups from across British Columbia are encouraged to apply for the province’s largest and longest running technology competition. Since its launch in 2000, thousands of local tech companies have participated in the competition to earn non-dilutive cash prizes, connect with mentors, network with fellow founders, and increase their company’s profile. READ MORE
iCo Therapeutics, Inc. Announces Agreement for in Vivo Testing of iCo-019 on SARS-CoV-2
March 15, 2021, Vancouver, Canada – iCo Therapeutics Inc. (TSXV: ICO) (OTCQB: ICOTF) (“iCo” or “the Company”) announced that its wholly owned subsidiary, Amphotericin B Technologies, Inc., has entered into an agreement with IIT Research Institute to test the in vivo efficacy of iCo’s novel oral amphotericin B asset (“iCo-019”) against SARS-CoV-2, the causative agent of COVID-19 in the hACE2 mouse model (the “iCo-019 Study”). iCo anticipates that the iCo-019 Study will be completed by the end of Q2 2021. READ MORE
Western Economic Diversification Canada Accepting Expressions of Interest for Business Scale-up and Productivity Program
March 17, 2021 – Once a start-up company is on its feet and needs to develop to the next stage, what next? That’s where the Business Scale-up and Productivity (BSP) program comes in. BSP supports high-growth Western Canadian firms that are scaling up and producing innovative goods, services or technologies through interest-free repayable funding. READ MORE
Prompt Health App Announcement
March 18. 2021 – Prompt Health, the online health and wellness marketplace, is pleased to announce the release of its iOS and Android app. You can now easily access the network and its perks from the palm of your hand. How many times have you been in a situation where you were looking for a certain health and wellness service for yourself or your family, but you weren’t sure where to start from and found yourself randomly searching on the internet or asking people around you? READ MORE
A new study by Novateur Ventures provides global analysis of COVID-19 vaccines
March 18, 2021 – A new study by Novateur Ventures provides a comparative analysis of twelve COVID-19 Vaccines that had initiated or announced the Phase III clinical trial stage by early November 2020. The study highlights the early successes, as well as the hurdles and barriers yet to be overcome for ending the global COVID-19 pandemic. READ MORE
LSBC SECTOR NEWS
Winnipeg lab that confirmed Canada's 1st COVID-19 case now working on vaccines, tracing virus in wastewater
On Jan. 23, 2020, doctors at Toronto's Sunnybrook Health Sciences Centre admitted a 56-year-old man with what appeared to be mild pneumonia. Two days later, he was "Patient Zero" — the first COVID-19 case in Canada. Four days later, it was senior research scientist Nathalie Bastien's team at the National Microbiology Lab (NML) in Winnipeg that confirmed the case. READ MORE
UBC Faculty of medicine researchers receive more than $5M from U.S. Department of Defense Spinal Cord Injury Research Program
Drs. Brian Kwon and Babak Shadgan, both faculty members in the department of orthopaedics, have been awarded a $3.7 million USD grant to conduct a clinical trial evaluating a novel implantable biosensor based on near-infrared spectroscopy (NIRS) technology, developed to monitor oxygenation and blood flow status of the injured spinal cord. The sensor will be implanted on the injury site at the time of surgery and provide clinicians with real-time physiological information to optimize hemodynamics management of the injured spinal cord at the acute phase of injury. READ MORE
New software advances ability to turn stem cells into other cell types
Harvard Medical School researchers and colleagues have developed new software to help scientists generate different types of cells for use in research and medicine. The software aids ongoing efforts to turn induced pluripotent stem cells, or IPSCs—adult cells that have been “rewound” into an earlier, more pliable state—into other cell types, such as neurons or muscle cells. READ MORE
Gold Sponsors
Electromate’s Core Purpose is to help manufacturers compete globally by building better machines using differentiated automation technology. They specialize in Robotic and Mechatronic Solutions for the Industrial Automation marketplace. Respected by customers as a premier source for High Performance Automation and Motion Control Components & Systems, Electromate® specializes in AC & DC Servo/Stepper Motors & Drives, Motion & Automation Controllers, Positioning Systems & Actuators, Feedback Devices, Gearing Products and HMI’s & Operator Displays.




Augurex is a collaboration-driven, biomarker-evidence based biotechnology company. Privately held, they began their research programs in 2008 focused on the 14-3-3η protein, a novel biomarker involved in the joint damage process, with current applications in rheumatoid arthritis (RA). From this initial basic research, a portfolio of 14-3-3η-centric clinical programs emerged, that is unveiling the potential of this previously unfamiliar factor in autoimmunity, and transforming the management of RA.
Silver Sponsors
PERSPECTIVES ON GLOBAL HEALTHCARE INNOVATION
What’s driving innovation in life science and healthcare? SVB is committed to serving the ecosystem by providing industry-leading reports featuring proprietary analysis and targeted outlooks to help companies and investors achieve their goals. Twice a year we publish deep-dive analyses describing fundraising, investment, M&A and IPO activity of private, venture-backed biopharma, medical device and diagnostic/tools companies. Our deep relationships with top life science and healthcare entrepreneurs and investors inform our insights and give us a vantage point unlike any other bank. To find out more about Silicon Valley Bank click here
LSBC JOB BOARD
Update: Student Work Placement Program now open to healthcare placements
The Student Work Placement Program is now accepting applications for healthcare placements. Canada’s healthcare industry has a growing need to produce job-ready healthcare workers. There are 1,500 open spots available in 2020-21. WEBSITE
Bronze Sponsors
Posting A JOB on the LSBC Website
LSBC Membership Discounts on Job Postings
 
As an LSBC member, your first five job postings EARNS a free repost on BioTalent Canada's The Petri Dish After your first five reposts, you will also receive 25% off all job postings on The Petri Dish. Want more info? CONTACT: Sue Callaghan - talent@lifesciencesbc.ca