The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: OETF

Ontario Emerging Technologies Fund (OETF) Shows Signs of Life (Sciences), Adds Biotech Investments and Investors

An announcement this morning from the OETF — Ontario’s (née) $250 million co-investment fund – shows positive signs for potential matching investments in the life sciences. First, the OETF announced an investment in Natrix Separations. BDC wore the “Qualified Investor” hat on that one, but Natrix is in GrowthWorks’ Canadian Fund portfolio, so we know at [...]

First Two OETF Investments: ecobee and Bering Media

Ontario’s $250 million Emerging Technologies Fund has closed its first two investments, participating in a $6.73 million round from smart grid company ecobee and a Series A round of undisclosed size from location-based ad company Bering Media.  I am proud to report that Ogilvy Renault, led by Senior Partner Jay Lefton, acted for ecobee in connection [...]

OETF Awards Service Provider Contracts to Northwater and Covington

The RFP process for the Ontario Emerging Technologies Fund administrator has ended, with Northwater Capital and Covington Capital having been selected. According to the news item from OETF, “Northwater Capital Management Inc. will review applications to become a qualified investor.  Covington Capital Corporation will review applications from qualified co-investors in relation to qualified investments and [...]

OBIO Panel Presents OETF and BIP Information

The Ontario Bioscience Industry Organization (OBIO) and the Ministry of Research and Innovation (MRI) co-hosted an event a few days ago entitled: “Funding Opportunities in 2009-2010 for Bioscience Companies: What CEO’s Need to Know About Ontario’s ETF and BIP Programs.” The speakers were: Chair: Kevin French, Senior Act. Manager, RBC; Industry: Rocky Ganske (President & [...]

Q3 Is Looking Up for Biotech: Emdeon, Cumberland, Domain, LOM BioQuest, OETF

This week has seen a continued upswing for biotech and other health industry companies in the U.S. (with two IPOs) and in Canada (with great VC news and the pending appointment of an administrator for the Ontario Emerging Technologies Fund): In the U.S. Emdeon (NYSE: EM) IPO’d today, pricing at the top of its range ($15.50) and [...]

Ontario’s $250 million Emerging Technology Fund Launches!

The $250 million Emerging Technolgies Fund announced by Ontario as part of the Budget in March and recently the subject of an RFP process to find a fund administrator launched today! Details are on the OETF homepage, including: Fund Guidelines [PDF 2.7 MB] FAQs [PDF 673 KB] Application to seek qualification as a Venture Capital or [...]

New Data Shows 70% of Canada’s Biotech Companies Have Under 12 Months’ Cash. BIOTECanada’s New Ask: Government Loans.

A Canwest story today highlights new BIOTECanada data showing 70% of survey respondents have under 1 year of cash, up from 50% in January.  FierceBiotech picked it up as well, guaranteeing a full dose of international attention.   Even though the remaining 30% of respondents likely include some with big recent successes — Bioniche, Allostera and Zymeworks – and some with creative [...]

Ontario Emerging Technologies Fund: Q&A From MRI Briefing

The questions and answers from last Friday’s MRI information session have been posted on MERX.  Here’s the link to the whole thing (if you have MERX access), but I’ll save you some time: There are two parts to the bid — one for evaluating Qualified Investors and one for evaluating Qualified Investments.  The same bidder might [...]

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