TORONTO--(BUSINESS WIRE)--Ontario Bioscience Innovation Organization (OBIO®), a not-for-profit organization that is Ontario’s leading advocate for the health science industry, is pleased to announce a call for applications for the 2017 OBIO Capital Access Advisory Program (CAAP®).
OBIO CAAP is a unique, industry-led initiative that provides selected high-potential Ontario health science companies with mentoring, strategic guidance and access to an expansive network of health science industry experts and investors to enhance the ability of OBIO CAAP Companies to secure financing. Through CAAP, OBIO is advancing and accelerating the development and commercialization of therapeutics, diagnostics, medical devices, and health IT products and services to benefit Ontario and global human health.
“OBIO CAAP positions Ontario’s industry-leading health science technology ventures for success. To date, CAAP companies have raised more than $60M in funding since entering the program and we look forward to building on this track record of positioning high-potential health science companies for follow-on and scale-up investment,” said Gail Garland, CEO OBIO. “OBIO CAAP has become a unique and important part of Ontario’s health science industry ecosystem and we look forward to continuing to support the growth and success of Ontario companies.” OBIO CAAP is generously supported by the Federal Government and the Government of Ontario.
“Oversubscribed since its inception, OBIO CAAP provides Ontario health science companies with advice and guidance from experienced entrepreneurs and investors. This has enabled attracting financial and human capital, building businesses with a global reach, and future economic growth,” said Brian Underdown, Venture Partner, Lumira Capital and Chair, OBIO CAAP Steering Committee. “There is no doubt that OBIO CAAP will continue its high impact path of enabling and accelerating growth of Ontario’s best health science companies by focusing on access to capital.”
Initiated in 2013, the OBIO Capital Access Advisory Program operates downstream from other programs and targets the critical issue of access to capital at the post-seed stage of venture financing. All high-potential health science companies based in Ontario that meet the requirements listed below are encouraged to apply.
OBIO CAAP Eligibility
- Companies focused on developing health science products or services including but not limited to therapeutics, medical devices, diagnostics, or healthcare information technologies, and
- Enterprises that have already raised initial capital and are committed to raise a subsequent major round of financing in the next 12 to 18 months.
For more information and to request an application, please see the visit the OBIO website here. The deadline for 2017 CAAP Applications is Friday, December 23rd, 2016 at 5 pm EDT.
An information session for companies that want to apply to OBIO CAAP will be held on November 17, 2016 at 4pm by teleconference and in-person meeting in the OBIO boardroom, 100 College Street, Suite 215. A wine and cheese reception follows for those attending in person. To register, please click here.
Earlier stage companies currently raising seed capital may be interested in the OBIO Pre-CAAP program to boost their investability and get ready for CAAP. Additional information on the 2017 Pre-CAAP program will be provided in January.
The Ontario Bioscience Innovation Organization (OBIO®) is a not-for-profit, membership-based organization engaged in the development of an integrated health innovation economy for Ontario and one that will become a global leader in providing health technology products and services to the international marketplace. OBIO advances this goal through advocacy, promotion and strategic leadership and via collaborative partnerships with industry, academia, patients and government. For more information, visit www.obio.ca and follow OBIO on Twitter @OBIOscience.