Leading Health and Life Sciences in Nova Scotia

ENTREVESTOR: Embracing Changes in Healthcare

See original Entrevestor article here By: Peter Moreira Delegates to BioPort 2017 on Wednesday were told of the impact of recent life sciences innovation in Atlantic Canada and encouraged to embrace further change. The impact so far is found in the fact that $1 billion has flowed into Atlantic Canada in the last six years from exits by companies in the life sciences and digital health space, and follow-on investment by the companies that bought them. BioPort is the annual get-together for life sciences entrepreneurs and innovators in the region, and the gathering this year celebrated the growth of biotech in the region, especially in New Brunswick. Pfera Inc., the winner of the BioInnovation Challenge, the conference’s $45,000 pitching competition, is from New Brunswick, as are Zecken Laboratories and Tieös Pharmaceuticals Inc., the two other finalists in the event. (Read our full report on the BioInnovation Challenge.) The delegates were told to embrace further innovations, especially in overall healthcare. Peter Vaughan, Chair of Canada Health Infoway and Nova Scotia’s former Deputy Health Minister, urged the delegates to embrace current innovations in healthcare – not just futuristic technologies on the horizon but products that are on the market now. For example, he cited such companies as Babylon Healthcare in the U.K. and the Mercy Virtual in St. Louis as organizations that are cutting costs and meeting patient requirements through online and video consultations, often including drug delivery. Patient surveys show that citizens want modern medical processes like e-prescriptions, online access to their medical records and timely medical consultations – goals met by groups like Babylon and Mercy. These organizations also meet the needs of government, as provinces spend upwards of 40 percent of their budgets on healthcare, only to find that 30 percent of healthcare spending has no value, said Vaughan. “You’re starting to get a picture of what’s available in the present,” said Vaughan. “So how do we take these things and change the one thing that’s on everyone’s mind – access to healthcare?” Vaughan said the future of healthcare is found in data because the analysis of vast reams of healthcare data reveals patterns that can predict severe health problems. This data can signal a problem is imminent so measures can be taken to prevent a crisis. Multinationals like Google, Apple and Amazon are now analyzing such data in the cloud, he said, but there is an opportunity for public, open data projects that could benefit everyone. He called on the Atlantic Provinces to come together to pioneer such a project with the data from its 2.2 million residents. “We in this country have the opportunity to produce a publicly funded ecosystem,” he told the assembled innovators. “This is the opportunity we face in Atlantic Canada. We can be that industry and then you can have access to more information than you ever imagined.” Scott Moffitt, Executive Director of BioNova, said in an interview there is evidence the life sciences segment in the region is evolving as exits in the space have created about $1 billion in investment. The exits of the past few years in the life sciences and digital health segments have included the sale of Ocean Nutrition Canada of Dartmouth for $540 million, BioVectra of Charlottetown for $100 million, and STI Technologies of Halifax, reportedly for more than $200 million. Moffitt said his tally also included other exits and investments that the purchasing companies made after the purchases closed. ]]>

ENTREVESTOR: Pfera Wins BioInnovation Challenge

See original Entrevestor article here By Peter Moreira Pfera, the Fredericton company that helps horse breeders predict when their mares will give birth, won the $45,000 BioInnovation Challenge on Wednesday, its second big competition win this year. Now in its seventh year, the BIC is the main competition for young life sciences companies in the region, and is a highlight of the annual BioPort Atlantic conference. As well as winning the BIC, Pfera CEO Lisa Pfister earlier this year won the $375,000 first prize at the Breakthru competition, the New Brunswick Innovation Foundation’s biennial startup contest. “I am really excited about what the future holds for us,” said Pfister after the win. “We really enjoyed the whole process, the mentorship and training were invaluable and we will make good use of our cash and in-kind services to take us to the next level.” Read Our Report on BioPort 2017 Pfera is developing a suite of products to reduce costs and improve survival rates in the breeding of horses. Horse breeding is now a $10.6 billion business and Pfera has already successfully tested its first product, a patent-pending device and software that tell breeders when their mares will give birth. There’s now a range of about 50 days of when a mare could go into labour, and someone has to watch the horse 24 hours a day during this time. Pfister said Pfera tested its system on 10 horses in P.E.I. this spring and saw vast improvements. “We were able to get the notice four days ahead of time,” said Pfister. “We were able to narrow [the predicted delivery time] to within four to eight hours and we’re improving on that all the time.” One of the horses was Pfister’s own mare, and she was able to fly into P.E.I. six hours before the birth because of her technology. As the winner of the BIC, Pfera will receive a $15,000 seed investment and a package of support services and mentoring valued at more than $30,000. The company plans to publish the results of its first test at veterinary conferences this year and go into clinical trials early next year. It’s planning a launch in late 2018 or early 2019. Pfera is also working on a breeding platform for the horse community that contains data on each mare and helps tell when it’s the best time to breed. Pfister added the company is working on a third product, though it is keeping this project under wraps for now. The BIC event was a big win for the bio-sciences sector in New Brunswick as all three finalists hail from that province.  The other two finalists were: • Tieös Pharmaceuticals Inc., of Moncton, aims to create new paradigms in cancer treatment by targeting several “metabolic pathways” simultaneously to prevent cancer cells from spreading.  Arun Anand, CEO, told the audience that cancer is believed to be caused by genetic mutations, but his team believes that the causes are actually metabolic (meaning tumors are created by non-genetic factors). Tieös plans to revolutionize cancer care by taking a number of actions based on this theory to starve cancer cells of their energy and ability to reproduce. • Zecken Laboratories, of Sackville, is enhancing the diagnosis of Lyme disease. CEO Kami Harris has been studying ticks and Lyme disease for her PhD at Mount Allison University, and now she is transforming her research into a company. She said there are actually 21 types of Lyme disease, but current diagnostic tests only identify one type. That means about 90 percent of the instances of Lyme disease go undetected, which can lead to long-term health problems. Zecken has already identified peptides that show the presence of the affliction and continues to research the disease to identify new strains as they come along.  ]]>

News Release: Semi-Finalists Chosen for BioInnovation Challenge

Semi-Finalists Chosen for BioInnovation Challenge

Halifax, NS – August 28, 2017 The semi-finalists have been chosen for the 2017 edition of The BioInnovation Challenge (BIC). Scott Moffitt, Managing Director of BioNova, the host of BIC, announced today that the semi-finalists who will take part in the program have been selected. The semi-finalists will receive professional pitch training between now and the semi-final run off, which will be held in Halifax on October 17. The program is part of a regional collaboration between BioNova, BioNB and PEI BioAlliance, its sister organizations in NB and PEI. The program allows up and coming life sciences companies to compete in the challenge and kick start their success. “We’re very excited about this year’s BioInnovation Challenge,” said Moffitt. “We have a number of brand new semi-finalists which shows that, year over year, this region is producing great life science ideas and great innovators.” Moffitt also notes that, “we are continuing to see exciting, new innovations as the BioInnovation Challenge evolves to offer more and more support for early stage companies.” The semi-finalists are: • Tieös Pharmaceuticals Inc. from New Brunswick • Neck Tronics Inc. from Nova Scotia • iPSNP Computing Inc. from New Brunswick • Heterogeneous Nanosystems Ltd. from Nova Scotia • Zecken Laboratories from New Brunswick • ADDtext Inc. from Nova Scotia • Pfera Inc. from New Brunswick • Canuevo Biotech Inc. from New Brunswick The winner of the BioInnovation Challenge will receive a $15,000 seed investment and a package of support services and mentoring valued at more than $30,000. The 2017 BIC is presented by BioNova in partnership with the Atlantic Canada Opportunities Agency, BioNB, Emergence, Dalhousie University Industry Liaison and Innovation, Springboard Atlantic, Jennifer Cameron PR, JLT, Sandler Training and Grant Thornton. BIC will take place over two days in October. The 8 semi-finalists will present to a panel of judges on October 17 at the Life Sciences Research Institute. The top three presenters will then pitch to the judges and the conference audience at BioPort Atlantic, BioNova’s annual conference, the following morning. The winner will be announced at the close of BioPort Atlantic on the afternoon of October 18. BioPort Atlantic will take place at the Halifax Marriott Harbourfront Hotel on October 17 and 18. BioPort provides a forum to educate, inform and inspire the life sciences community to develop their ideas, commercialize their technologies and build links within the region and with guests brought in from the US and from around the world. About BioNova: BioNova is the industry association leading the advancement of the life sciences sector in Nova Scotia. BioNova leads and supports its members as we build a successful, self-sustaining life sciences industry in Nova Scotia. By promoting the industry and its successes, building relationships both inside and outside the province and creating networking and educational opportunities. BioNova aims to accelerate the commercialization success of Nova Scotia’s life sciences businesses and organizations. -30- For further information, media may contact: Kerri Mannette Program Manager, BioNova 902-421-5705 ext. 4 [email protected]]]>

MacKenzie Healthcare Technologies: Revolutionizing the way people are repositioned in wheelchairs

Originally featured in LINK Magazine

Revolutionizing the way people are repositioned in wheelchairs in homes, hospitals and care facilities around the world.

Nova Scotians working in the healthcare sector have the highest rate of workplace injury compared to any other industry, with musculoskeletal injuries to healthcare workers costing Nova Scotia taxpayers $100 million annually. These injuries are frequently caused by continuing care workers repositioning patients in wheelchairs who are unable to reposition themselves. MacKenzie Healthcare Technologies, in collaboration with NSCC and Northwood, a leading long-term care facility in Halifax, has developed The Paraglide system to help alleviate this problem. Paraglide is a wheelchair repositioning system that brings mechanical innovation to the currently injury-prone and undignified task of moving someone in a wheelchair from a slouched position to an upright position. The Paraglide device will be the first of its kind that will allow people who become slouched forward in wheelchairs to reposition themselves at the touch of a button, removing the reliance of a caregiver and giving them dignity and independence. The device will also eliminate the risk of caregiver injury for this task, prevent pressure injuries (bed sores), and save resources in healthcare facilities, nursing homes, homecare, governments and injury-related insurance coverage for both wheelchair users and caregivers alike. Paraglide, made of lightweight aluminum, contains a motor, gears, and electronics which attach to the back of the wheelchair. The device uses a wireless remote control, rotating and pulling a specially designed fabric sheet along the seat of the wheelchair thereby moving the person automatically. When the button is released the device releases the sheet, allowing enough slack for the individual to make their way forward again, allowing free movement. Last October, MacKenzie Healthcare Technologies was named the winner of the sixth annual BioInnovation Challenge (Presented by BioNova) chosen by a panel of judges for its adaptability, market pull, and consumer readiness. The prize package valued at more than $30,000, contained a seed investment and a package of advisory services that the company has used to advance its production as it prepares for the market this summer.]]>

BioPort 2016: Succeeding as an entrepreneur with Dr. Pravin Chaturvedi

“If you ask for advice, you will receive money. If you ask for money, you will receive advice.” This was just one of the gold nuggets Dr. Pravin Chaturvedi offered to BioPort Atlantic conference attendees during his keynote speech late last month.  With over 25 years of experience in the pharmaceutical industry, multiple successful entrepreneurship endeavors under his belt and as a self-proclaimed “Agent Provocateur”, he was not scared to share his opinions and realities on the entrepreneur/investor relationship and how to successfully navigate them to build life sciences enterprises. I heard a great quote this fall from a speaker at a BioNova Boost session: “Companies don’t succeed, entrepreneurs succeed” (Kevin Talbot, Relay Ventures). According to Bloomberg, 8 out of 10 entrepreneurs fail and Dr. Chaturvedi offered up his list of the top 10 mistakes entrepreneurs make to help you avoid these missteps and create a successful company:  

10. Failing to understand the real business opportunity 9. Failing to appreciate and address competition 8. Building upon the wrong structure 7. Assembling the wrong team 6. Being unrealistic 5. Over-valuing the business at critical junctures 4. Allowing mole hills to grow into mountains 3. Failing to maximize your competitive advantages 2. Assembling the wrong investors 1. Failing to manage expectations with investors

  A recent Entrevestor article stated life sciences is the second largest innovation sector in our region, with 13 life sciences companies forming in 2016, compared with six in 2014. This shows we have a strong entrepreneurial spirit and we, at BioNova, want to see a strong success rate because success not only impacts each company individually but our economy. If you are a life sciences entrepreneur and have questions on how to get started or how to build your high growth business, BioNova has the expertise and knowledge to help accelerate and drive your business forward. All the best, Scott Moffitt Managing Director, BioNova   References Chaturvedi, P. (2015) BioPort Keynote address Moreira, C. (2016). Fostering Life Sciences Companies in NS. http://entrevestor.com/ac/blog/fostering-life-science-companies-in-ns/ Wagner, E. (2013). Five reasons 8 out of 10 business fail. Forbes. http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/#6391a2905e3c]]>

BioPort News: Meet Honorary Conference Chair Dr. Abdullah Kirumira

Dr. Abdullah Kirumira, Chairman and Technical Director, BioMedica Diagnostics  In 1993, Dr. Kirumira was responsible for the invention of the world’s first rapid-acting HIV diagnostic test. In 1999, Dr. Abdullah Kirumira founded BioMedica Diagnostics in Windsor, NS, who’s success has been built on their ability to deliver superior service, quality and results to their partners. Dr. Kirumira’s entrepreneurial spirit and willingness to give back has resulted in impressive levels of support in underdeveloped regions lacking the ability diagnose infectious diseases.

“My vision is to establish affordable laboratory medicine in Third World countries that do not have access to diagnostic equipment because it is too expensive, or they don’t have the appropriate technology at their disposal.” (Source).
 Dr. Kirumira’s achievements have been well recognized and appreciated by a variety of local and international organizations.
Join us at BioPort to hear from one of the key scientist-entrepreneurs in Nova Scotia’s life sciences industry.]]>