TORONTO, June 18,
2024 /CNW/ - Coinciding with Seniors Month in
Ontario, the Centre for Aging +
Brain Health Innovation (CABHI), powered by Baycrest, released
today the list of companies it is supporting with a total of
$9.5 million through its Mentorship,
Capital, and Continuation (MC2) Program to mobilize
innovation and advance the goals of Canada's National Dementia Strategy.
"As the first of its kind solutions accelerator dedicated to
driving innovation in the aging and brain health sector, CABHI
plays a crucial role in the development and commercialization of
innovative products and services to improve the lives of older
adults," says the Honourable Francois-Philippe Champagne. "CABHI's
unique knowledge and expertise ensures that the best solutions get
in the hands of those who need them while also building the economy
of the future."
With a focus on early-stage healthtech and fintech companies,
CABHI's MC2 Program helps businesses achieve validation
and business milestones as they progress through commercialization,
growth, and scaling. In addition to funding, the program provides
acceleration services such as access to end-user validation,
business and research expertise, CABHI's Innovation and Investment
Networks, and more.
"CABHI's MC2 is a pioneering program that addresses
critical funding gaps early-stage innovators frequently face by
providing financial support and acceleration services to promote
growth and sustainability," says Dr. Allison Sekuler, President and Chief Scientist
at CABHI.
Several of the companies receiving support are working to
address key points within the National Dementia Strategy, such as
improving the quality of life for people living with dementia and
their caregivers. Additionally, for the first time in the
MC2 Program's seven funding rounds, select companies,
like QurCan Therapeutics, are in the biotechnology field and are
working towards developing treatments for cognitive and age-related
disorders.
"CABHI's investments in innovations for people living with
dementia and their caregivers are making a tremendous impact across
the board, here in Ontario and
around the world," says the Honourable Jill Dunlop, Minister of
Colleges and Universities. "Our government is proud to support
CABHI's vital work that improves the lives of older adults in our
communities."
A full list of funded companies can be found on CABHI's
website.
Additional Quotes:
"Having now solidified our most recent two funding cohorts, the
MC2 Program has directed over $33
million to companies working with older persons to develop
solutions that have the potential to reimagine the aging
experience," says James Mayer,
Senior Manager of Investments & Venture Services at CABHI.
"We are immensely grateful for the support from CABHI's
MC2 Validation Funding," says, Bronwyn Bridges, CEO of PragmaClin, one of the
CABHI-portfolio companies receiving funding from the $9.5 million investment. "This funding has been
instrumental in advancing PRIMS, our digital health solution for
Parkinson's Disease management. With this support, we have been
able to accelerate the development and prepare for rigorous
testing, ensuring that PRIMS meets the highest standards of
accuracy and reliability. Our goal is to transform the way
Parkinson's Disease is monitored and managed, and CABHI's
investment brings us one step closer to making that vision a
reality."
About the Centre for Aging + Brain Health
Innovation:
The Centre for Aging + Brain Health
Innovation (CABHI), powered by Baycrest, was established in 2015 to
support researchers, clinicians, and innovators, as they develop,
validate, scale, and promote the adoption of innovations that
improve the lives of older persons, including those impacted by
dementia. CABHI is a unique collaboration of healthcare, science,
industry, not-for-profit, and government partners. Through its
funding programs and tailored acceleration services, including
access to diverse end user groups, CABHI advances transformative
aging and brain health innovations across Canada and the world. For more information,
visit: www.cabhi.com.
SOURCE Centre for Aging + Brain Health Innovation