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Tag Archives: Ontario Genomics Institute

New Early-Stage Funding: Ontario Genomics Institute’s Pre-commercialization Business Development Fund Calls for 2010 Applications

The Ontario Genomics Institute has a Pre-commercialization Business Development Fund (PBDF) that makes investments to fund proof-of-principle (aka proof-of-concept) programs.  They are soliciting applications for 2010 investments, with a deadline of January 29, 2010.

The project or business has to “involve genomics, proteomics, or associated technologies,” but the potential business areas are broad, including:

biofuels; cell, macromolecular, or small-molecule strategies for disease therapeutics; crop or livestock trait improvements; diagnostics; environmental management; laboratory and medical devices; nutraceuticals; and associated technologies such as analysis and organization of data resources (informatics, databases), high-throughput robotics, and information technology.

If you’re thinking about applying, you should note the following fund criteria:

  • The investment increases the likelihood of a near-term (i.e., within 24 months), ‘next-step’ event by offering concrete, definitive milestone(s) and uniquely enables rapid progress towards the marketplace for the outcome(s) of genomics-related technologies.
  • The opportunity forges a partnership between academe and industry.
  • The proposal demonstrates that the PBDF represents a unique funding opportunity for the project.
  • The applicant provides a matching investment in cash or in kind, whether from internal resources or other investors or from granting institutions.
  • The opportunity is of interest to an entity capable of and committed to further commercializing the outcome.

Caught your eye?  Here’s some diligence material

Done with that? Here are the application materials:

Go get ‘em! Good luck!

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Biotech Trends in 2010: Get An Early Start at OGI’s Synthetic Biology Conference

OGI syntheticbiologyIn updating this blog’s Trends in 2009 series for 2010, I noted that synthetic biology has garnered recent attention in The New Yorker and The Economist and it may be poised to attract more commercial attention.   Here’s a great chance to get a jump on the topic…

Ontario Genomics Institute (OGI) and Integrated DNA Technologies (IDT) are hosting a free one-day symposium on synthetic biology on October 27th at MaRS.  It’s invitation only, but you can contact Helen Petropoulos <hpetropoulos at ontariogenomics dot ca> if you want to register.

The symposium will be chaired by Elizabeth Edwards, a Professor in the Department of Chemical Engineering and Applied Chemistry at the University of Toronto, and presenters include leading researchers from across North America:

Here’s the blurb from the organizers:

“This symposium will explore the field of synthetic biology and its many application areas, culminating in a panel discussion focused on challenges and opportunities in one of today’s most promising research fields.  An open public forum on synthetic biology and its impact on society will follow the symposium program.”

Hope to see you there!

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Monday Deal Review: March 16, 2009

M&A:

We already noted the JLL bid for Patheon this week, and the Patheon Special Committee’s response.  It turns out that JLL has been a busy enterprise lately, extending the expiration on a bid for PharmaNet Development Group, Inc. (Nasdaq: PDGI).

Partnering:

MedMira Inc., (TSX-V:MIR, NASDAQ: MMIRF), which has been active on the securities front with a debt settlement and a private placement, announced this week that it is has established a private label partnership with Vitest AG, which plans to market and sell MedMira rapid HIV tests in Africa under the Vitest brand.

Spectral Diagnostics Inc. (TSX: SDI) announced that it has signed a license agreement with Toray Industries, Inc. of Japan, granting Spectral the exclusive development and commercial rights in the U.S. for Toraymyxin™, a therapeutic device for the treatment of sepsis that removes endotoxin from the bloodstream. Under the terms of the agreement, Spectral will seek FDA approval for Toraymyxin™ and intends to commercialize the product together with its Endotoxin Activity Assay (EAA™), the only FDA-cleared diagnostic for the measurement of endotoxin.  

Venture Capital:

The Ontario Genomics Institute, through its Pre-commercialization Business Development Fund program,  invested an undisclosed amount in Cytognomix, a London, Ontario-based developer of cytogenetic DNA probes for potential use in diagnostics.  Cytognomix is developing single cell DNA probes that are smaller and more densely distributed across chromosomes than probes that are currently commercially available, and can be designed to specifically target and detect chromosomal abnormalities, such as those underlying cancer.

AgeChem subscribed for 50,000,000 units of Advitech Inc. (TSXV: AVI) at a price of $0.02 per unit (common share plus warrants exercisable at $0.05 or $0.10).  The closing is pending Advitech shareholder approval, exchange approval, and the coversion of certain of Advitech’s debt to AgeChem into equity.

The Caisse:

Last week, the Caisse (de dépôt et placement du Québec) brought in Robert Tessier as its new Chairman.  This week, Michael Sabia was appointed as the new CEO.

Securities:

Resverlogix Corp. (TSX:RVX) announced a USD$20 million private placement, with the possibility of a USD$10 to USD$15 million follow-on round (at 20% under the 5-day VWAP at the time). On closing, Resverlogix will issue units (one common share and 0.40 of a 5-year warrant at $2.72) at a price of CDN $2.72 per Unit. The Company is relying on the financial hardship provision of Section 604(e) of the TSX Company Manual, so a fully subscribed closing cannot occur prior to March 17th, 2009. The offering is highly dilutive — 31% without taking into account exercise of the warrants and 44% assuming full exercise of the warrants. The completion of the offering is subject to the approval of the TSX and all other necessary regulatory approvals.  Also, TSX is reviewing Resverlogix’s shares with respect to meeting the continued listing requirements. Reverlogix has been granted 210 days in which to regain compliance with these requirements,pursuant to the Remedial Review Process.

Akela Pharma Inc. (TSX: AKL) and LAB Research Inc. (TSX: LRI) have reached an agreement to settle all outstanding litigation initiated by the Akela against LAB Research in October 2008. LAB Research paid CAD$2 million and issued warrants entitling Akela to subscribe to 500,000 common shares of LAB Research at a price of $0.50 per share, the warrants expiring December 31, 2010. 

Helix BioPharma Corp. (TSX: HBP) registered its common shares with the SEC.

TSX has extended its review of the eligibility of the common shares of LMS Medical Systems Inc. (TSX: LMZ) for 30 days.

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