With 2011 drawing to a close, it’s a great time to reflect on the year’s achievements by the life sciences, health care, and health care IT companies that are working with MaRS. Success in these industries comes in many forms – regulatory approval, funding raises, patent protection, partnerships and more – and MaRS clients have spent 2011 tackling a range of these early-stage milestones.
- SonicVision Medical Technologies recently won the 2011 sanofi pasteur Healthcare & Biotechnology Venture Challenge. SonicVision is commercializing a portable, non-invasive ultrasonic headset that aims to diagnose stroke within minutes, without the need to travel to a CAT or MRI facility. Their innovation aims to enable effective treatment within the first hour after a stroke has occurred – a potentially life-saving process change. This win includes prize money of $7,500 plus advisory services support from MaRS. It also gives the team practical experience that will be invaluable as the company scales.
- Segasist Technologies, a MaRS tenant and long-time client of advisory services, this year received FDA approval for their auto-contouring software tool, which will help oncologists better diagnose cancerous lesions. They were also recently profiled in CityNews!
- OtoSim Inc., a MaRS Innovation spinout that is now working with MaRS and housed in the MaRS Incubator, has scaled its business internationally, with sales in the US of over $200,000. They offer a training solution for physicians learning to conduct otoscopies (inner ear examinations) that drastically increases their diagnostic accuracy. In 2012, they will continue to expand.
- Quantum Dental Technologies received its CE mark, approving its device, The Canary System™, for sale in Europe. The company is now working on distribution and international expansion for the device, a laser-based system for mapping areas of tooth decay.
Other MaRS clients that raised significant funding in 2011 include:
Success follows hard work (and a little bit of luck)… and it can’t hurt to use all the resources available to you, such as those offered here at MaRS. Stay in touch with the Advisory team, and we’ll do our best to help your business grow.
Season’s greetings to everyone. Let’s first relax, and then get revved up for a fantastic 2012!