FACIT

FACIT is a Toronto-based commercialization venture firm focused on advancing oncology innovation through partnerships with entrepreneurs. By leveraging industry expertise, financial resources, and a robust network of clinician-scientists from the Ontario Institute for Cancer Research, FACIT aims to enhance the local economy and improve patient outcomes globally. The firm specializes in the healthcare, life sciences, and health technology sectors, and offers accelerator programs to support biotech companies. Since its inception, FACIT has successfully attracted over $850 million in investments to Ontario, underscoring its commitment to fostering research and development in cancer treatment and care.

David O'Neill Ph.D

President

David Koehler

Director, Fund Operations

29 past transactions

Esphera SynBio

Seed Round in 2025
Esphera SynBio operates as a biotechnology company. Esphera SynBio provides practitioners of synthetic biology for the treatment and prevention of disease.

Hyivy

Seed Round in 2024
Hyivy Health creates an intelligent and holistic pelvic rehabilitation device for the 1 in 3 women worldwide who will experience a pelvic health complication in their lifetime. Our device provides the first quantifiable data set on the pelvic floor and 3 different therapies from multiple sensors and mechanical functions to help keep track of progress, adapt treatment plans and provide more effective, comfortable rehab experiences.

Radiant Biotherapeutics

Series A in 2024
Radiant Biotherapeutics is an innovative company focused on developing a modular platform for multi-valent and multi-specific therapeutics. This platform aims to advance antibody engineering by producing multi-functional biologics capable of addressing challenging diseases, including cancer, autoimmune disorders, and infectious diseases. By leveraging enhanced binding power and multi-specificity, Radiant Biotherapeutics seeks to create potent therapeutics that have the potential to significantly improve treatment outcomes for patients. The company is committed to delivering transformative therapies through its cutting-edge approach to antibody technology.

HDAX Therapeutics

Seed Round in 2024
HDAX Therapeutics is focused on developing innovative small molecule therapeutics aimed at treating conditions driven by HDAC6, particularly in the realms of cardiovascular and neurological diseases. By addressing the root causes of these conditions, the company seeks to improve patient outcomes significantly. Their approach involves a unique targeted therapeutics platform that utilizes a two-site binding mechanism for HDAC6, which allows for the delivery of treatments that are both safe and effective. This strategy is designed to meet the substantial unmet medical needs associated with neuropathies and cardiometabolic diseases.

Tenomix

Seed Round in 2024
Tenomix mission is to develop novel technologies that target inefficiencies in the pathology workflow optimize cancer care and reduce healthcare costs

Radiant Biotherapeutics

Seed Round in 2023
Radiant Biotherapeutics is an innovative company focused on developing a modular platform for multi-valent and multi-specific therapeutics. This platform aims to advance antibody engineering by producing multi-functional biologics capable of addressing challenging diseases, including cancer, autoimmune disorders, and infectious diseases. By leveraging enhanced binding power and multi-specificity, Radiant Biotherapeutics seeks to create potent therapeutics that have the potential to significantly improve treatment outcomes for patients. The company is committed to delivering transformative therapies through its cutting-edge approach to antibody technology.

CTRL Therapeutics

Seed Round in 2023
CTRL Therapeutics is a biotechnology company based in Toronto, Canada, focused on the development of cell therapies and innovative diagnostic solutions. The company has created a microfluidic platform that enhances the detection of rare circulating tumor cells. This technology is integral to the development of a cancer liquid biopsy test, which aims to predict how patients will respond to targeted therapies. By enabling the evaluation of protein expression on tumor cells, CTRL Therapeutics seeks to provide valuable insights for doctors in tailoring treatment plans for cancer patients.

HDAX Therapeutics

Seed Round in 2022
HDAX Therapeutics is focused on developing innovative small molecule therapeutics aimed at treating conditions driven by HDAC6, particularly in the realms of cardiovascular and neurological diseases. By addressing the root causes of these conditions, the company seeks to improve patient outcomes significantly. Their approach involves a unique targeted therapeutics platform that utilizes a two-site binding mechanism for HDAC6, which allows for the delivery of treatments that are both safe and effective. This strategy is designed to meet the substantial unmet medical needs associated with neuropathies and cardiometabolic diseases.

Qurcan Therapeutics

Seed Round in 2021
Qurcan Therapeutics is focused on developing advanced therapeutic solutions for solid tumors, particularly brain cancers. The company has created a nanotechnology-based drug delivery platform that enhances the precision of cancer treatment by overcoming challenges associated with traditional drug delivery methods. This platform improves the release of therapeutic agents while minimizing liver accumulation, allowing for more effective targeting of difficult-to-reach tumors. Among its innovations is Manganescan®, a theranostic agent that serves as both an MRI contrast agent and a radio-sensitizer, enabling early detection of brain tumors and enhancing the effectiveness of radiation therapy. By facilitating improved drug delivery and modulating the tumor microenvironment, Qurcan Therapeutics aims to increase therapeutic efficacy and extend patient survival in the fight against solid tumor cancers.

Replica Analytics

Seed Round in 2020
Replica Analytics Ltd. is a Canadian company based in Ottawa, established in 2019, that specializes in creating modeling software for generating synthetic data from real clinical datasets. The company employs advanced machine learning techniques to produce privacy-protective synthetic data that retains the statistical properties of actual data, ensuring high utility while adhering to global privacy regulations. In addition to generating this synthetic data, Replica Analytics provides supporting documentation that outlines the utility characteristics of the data, allowing businesses to analyze and utilize data effectively without compromising privacy.

bridge7

Seed Round in 2020
Bridge7 is a company that specializes in AI-powered consultation software aimed at enhancing the quality of care for cancer patients. Founded in 2017 and headquartered in Ontario, Canada, Bridge7's software leverages machine learning algorithms to analyze data from thousands of patients. This capability provides clinical teams with decision-making metrics that facilitate informed consultations regarding cancer treatment options. By offering insights on the quality of cancer care before treatment begins, Bridge7 helps healthcare providers improve clinical efficiency and enhance the overall delivery of care.

Xpan

Seed Round in 2020
Xpan is developing novel and less invasive surgical devices for Minimal Invasive Surgeries. The company was founded in 2017 and based in Toronto, Ontario.

Qurcan Therapeutics

Seed Round in 2020
Qurcan Therapeutics is focused on developing advanced therapeutic solutions for solid tumors, particularly brain cancers. The company has created a nanotechnology-based drug delivery platform that enhances the precision of cancer treatment by overcoming challenges associated with traditional drug delivery methods. This platform improves the release of therapeutic agents while minimizing liver accumulation, allowing for more effective targeting of difficult-to-reach tumors. Among its innovations is Manganescan®, a theranostic agent that serves as both an MRI contrast agent and a radio-sensitizer, enabling early detection of brain tumors and enhancing the effectiveness of radiation therapy. By facilitating improved drug delivery and modulating the tumor microenvironment, Qurcan Therapeutics aims to increase therapeutic efficacy and extend patient survival in the fight against solid tumor cancers.

Cellular Analytics

Seed Round in 2019
Cellular Analytics is founded upon a proprietary microfluidic platform that enables molecular characterization of cancer at the level of single circulating tumour cells

Qurcan Therapeutics

Seed Round in 2019
Qurcan Therapeutics is focused on developing advanced therapeutic solutions for solid tumors, particularly brain cancers. The company has created a nanotechnology-based drug delivery platform that enhances the precision of cancer treatment by overcoming challenges associated with traditional drug delivery methods. This platform improves the release of therapeutic agents while minimizing liver accumulation, allowing for more effective targeting of difficult-to-reach tumors. Among its innovations is Manganescan®, a theranostic agent that serves as both an MRI contrast agent and a radio-sensitizer, enabling early detection of brain tumors and enhancing the effectiveness of radiation therapy. By facilitating improved drug delivery and modulating the tumor microenvironment, Qurcan Therapeutics aims to increase therapeutic efficacy and extend patient survival in the fight against solid tumor cancers.

DNAstack

Pre Seed Round in 2019
DNAstack is a cloud-based genomics platform that helps geneticists securely manage, analyze, search, and share genomic datasets in the cloud.

Talon pharmaceuticals

Venture Round in 2018
Talon Pharmaceuticals is a biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative medicines aimed at enhancing patient quality of life and addressing critical health challenges. Utilizing its Multiphore drug design platform, Talon focuses on creating small molecule therapeutics to treat central nervous system disorders and difficult bacterial infections. Among its lead candidates are treatments designed to mitigate levodopa-induced dyskinesia and psychosis in Parkinson's disease, as well as therapies aimed at improving gait. By prioritizing the needs of patients and medical professionals, Talon Pharmaceuticals strives to develop effective solutions that can save lives.

Polumiros

Grant in 2018
Polumiros is a biomaterials company specializing in the development of a novel immunomodulatory polymer platform technology that manages inflammation and improves healing, restoring patients’ health and quality of life.

16 Bit

Pre Seed Round in 2018
16 Bit Inc. is a Toronto-based company that specializes in developing medical image analysis systems, utilizing artificial intelligence to enhance diagnostic capabilities. The company is focused on creating a breast cancer screening triaging algorithm, as well as solutions for neurological emergency detection and pediatric bone age assessment. By leveraging its innovative software, 16 Bit aims to improve the quality, efficiency, and accessibility of healthcare, aiding physicians and radiologists in interpreting medical results more effectively.

Dalriada Therapeutics

Seed Round in 2018
Dalriada Therapeutics Inc. is a Canadian company based in Mississauga, established in 2016. It specializes in the development of novel small molecule inhibitors targeting various medical conditions, including oncology, pain modulation, and neurodegenerative and neuroinflammatory disorders. The company employs a TURN-KEY model that integrates research and development with business strategy and intellectual property management, thereby supporting global innovators in the pharmaceutical industry.

DNAstack

Pre Seed Round in 2017
DNAstack is a cloud-based genomics platform that helps geneticists securely manage, analyze, search, and share genomic datasets in the cloud.

Radialis

Seed Round in 2017
Radialis develops an organ-targeted positron emission tomography (PET) imaging system aimed at providing high-definition and low-dose imaging solutions for oncology, neurology, and cardiology. Its technology significantly enhances the efficiency of detecting radiotracers compared to conventional PET systems, which allows for improved cancer detection. The system has received broad FDA clearance in the United States for imaging and measuring injected positron-emitting radiopharmaceuticals. Currently, the leading application of this technology is in the high-resolution imaging of primary solid tumors, assisting in treatment planning as a complement to traditional staging PET/CT without requiring additional radiotracer. Furthermore, Radialis is exploring opportunities for early detection of cancer and Alzheimer's disease using low-dose imaging techniques in high-risk populations.

Propellon Therapeutics

Seed Round in 2017
Propellon Therapeutics is developing and commercializing novel cancer therapies targeting the WDR5 protein, essential for assembly of methyltransferase complexes and proper histone modification. The overexpression of WDR5 and resulting deregulation of epigenetic mechanisms are implicated in various cancers and correlated with poor patient survival. Established by FACIT, Propellon’s WDR5 inhibitor platform arises from discoveries, research and innovations originating from OICR.

KA Imaging

Seed Round in 2017
KA Imaging Inc. is a Canadian company based in Waterloo that focuses on designing and manufacturing advanced X-ray detectors for both medical and non-medical applications. Founded in 2015, the company has developed the world's first portable dual energy subtraction X-ray detector, which enhances the sensitivity of disease identification, including conditions such as pneumonia and fractures. This innovative device, known as Reveal, has received FDA clearance and is sold globally. KA Imaging offers a range of products, including static detectors for identifying faults in infrastructure, dual-energy detectors for baggage screening, dynamic detectors for inspecting moving parts, and specialized mammography detectors. With a team of 20 full-time and 10 part-time employees, the company holds 52 global patents and 17 issued US patents, emphasizing its commitment to advancing X-ray imaging technology across various sectors.

Turnstone Biologics

Series B in 2016
Turnstone Biologics Inc. is a biotechnology company based in Ottawa, Canada, with an additional office in New York. Founded in 2015, it is dedicated to developing innovative viral immunotherapies aimed at improving survival rates for cancer patients. The company's lead product, RIVAL-01, utilizes a vaccinia virus backbone to deliver three key immunomodulators: Flt3 ligand, anti-CTLA-4 antibody, and IL-12 cytokine. These components are designed to enhance immune activity and reprogram the tumor microenvironment for optimal tumor eradication. Additionally, Turnstone Biologics is advancing next-generation tumor-infiltrating lymphocyte (TIL) therapies, which involve selecting and expanding the most effective T cells from a patient’s tumor to enhance the body’s immune response against solid tumors. Through these approaches, Turnstone aims to deliver breakthrough immunotherapies for cancer treatment.

CapNostics

Venture Round in 2016
FDA cleared device for early detection of Barrett’s Esophagus and other Upper GI diseases such as cancer and H-pylori. Opportunity to launch the FDA 510k clearedNon-endoscopic swallowable screening device for esophageal bottle-brush cellular retrieval for use with new Genome Sequencing diagnostic tests (Biomarkers) that are expected to become mass "out-patient" screening tests used for the early detection of Barrett’s Esophagus and other diseases.

Turnstone Biologics

Series A in 2015
Turnstone Biologics Inc. is a biotechnology company based in Ottawa, Canada, with an additional office in New York. Founded in 2015, it is dedicated to developing innovative viral immunotherapies aimed at improving survival rates for cancer patients. The company's lead product, RIVAL-01, utilizes a vaccinia virus backbone to deliver three key immunomodulators: Flt3 ligand, anti-CTLA-4 antibody, and IL-12 cytokine. These components are designed to enhance immune activity and reprogram the tumor microenvironment for optimal tumor eradication. Additionally, Turnstone Biologics is advancing next-generation tumor-infiltrating lymphocyte (TIL) therapies, which involve selecting and expanding the most effective T cells from a patient’s tumor to enhance the body’s immune response against solid tumors. Through these approaches, Turnstone aims to deliver breakthrough immunotherapies for cancer treatment.

Privacy Analytics

Seed Round in 2014
Privacy Analytics allows healthcare organizations to quickly and easily apply a responsible de-identification methodology that ensures individual privacy and legal compliance.

Triphase Accelerator

Venture Round in 2013
Triphase Accelerator is a privately held drug development accelerator that acquires and develops novel therapeutics. Triphase in-licenses clinically enabled oncology assets with high-value potential and develops them in a shared risk model to proof of concept (POC), then out-licenses or sells the product to realize value. Triphase has formed a strategic partnership with Celgene Corporation to enable the rapid development of proof of concept in important new cancer therapeutics of mutual interest. The Triphase management team is deeply knowledgeable with significant experience in drug development. Together with the founding organizations Ontario Institute of Cancer Research (OICR) and MaRS Innovation, and supported by MaRS Discovery District along with strategic oncology partnerships, Triphase has formed a unique partnership to produce proof-of-concept data for investors, partners, regulators, payers, and ultimately prescribers and patients.
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