TORONTO--(BUSINESS WIRE)--Synaptive Medical Inc., a leader in surgical planning and navigation technology, announced today that the Company will receive a grant under the Industry Consortium for Image Guided Therapy (ICIGT) network from the Government of Canada’s Innovation, Science and Economic Development sector. Through an innovation competition sponsored by the Government of Canada, Sunnybrook Research Institute submitted a winning proposal, in which Synaptive is a named partner. The proposal is a targeted commercialization initiative that leverages progress in artificial intelligence (AI) facilitated data processing and outstanding research and business expertise in Image-Guided Therapy (IGT).
In a ceremony last week, at the Sunnybrook Health Sciences Centre, Minister of Innovation, Science and Economic Development, The Honorable Navdeep Bains, announced an investment of up to $49 million that will support the ICIGT network of more than 78 partners. The investment will support ICIGT's estimated $126 million project to quicken the application of AI and machine learning technologies for more accurate image-guided therapies such as MRIs, CT scans and ultrasounds. Synaptive’s integrated suite of medical technology products are tailored to this area of innovation, and this partnership, along with the additional funding, will revolutionize the healthcare landscape with respect to AI- and machine learning-supported diagnostics and treatment.
The Strategic Innovation Fund made the above investment through a program designed to attract and support high-quality business investments in Canada's most dynamic and innovative sectors. Through this grant, Canadians will benefit from better health outcomes, faster diagnoses and safer treatments. The collaborative ICIGT public-private network will shorten the pathway to market for promising high-impact new technologies that help to address gaps in Canadian health care structures.
About Synaptive Medical
Synaptive Medical Inc., a Toronto-based medical device and technology company, designs hardware and software that cross traditional barriers in hospitals and improve patient care in and beyond the operating room. Synaptive’s Modus V™ and integrated BrightMatter™ solutions—including surgical planning, navigation and visualization, and an informatics platform—give leading clinicians and healthcare systems the information they need to ensure the best possible outcomes for patients.