See the full Entrevestor article here
Halifax-based Beyond Food Inc. has closed a $1 million funding round to help it launch its system that will convert aging supermarket produce into a powdered food supplement.
The company issued a press release this week saying it raised the money from a range of investors, including several National Hockey League players. The company’s website shows that it plans now to develop its first Zero Waste Pod this month and to launch its first partnership with a national supermarket chain in April.
The company was formed two years ago with a core of sports and health enthusiasts. Its mission is to reduce food wastage, which now amounts to $31 billion a year in Canada alone, by finding supermarket produce that is about to be tossed out and using it to make a nutritional food supplement. It sells nutrition products under the brand TDF Sports.
“We are building a revolutionary technology and company,” said Co-Founder and CEO Darren Burke in a statement. “Our Zero Waste Pod is a first in this race to tackle the large challenges related to the excessive food waste occurring in North America and beyond.”
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See original article on the Canadian Trade Commissioner Service Website
BioMedica Diagnostics Inc. is well established as an exporter, with almost 100 percent of the sales of its blood coagulation testing kits, reagents and other products in more than 70 countries around the world.
(Photo: BioMedica Diagnostics Inc.)
But today the Windsor, Nova Scotia, company is stepping up its efforts abroad, with an aggressive growth plan that includes refocusing on existing markets and products, while extending its global reach and developing new disruptive technologies for the future. The firm has been given fast‑track status under a pilot program of the Canadian Trade Commissioner Service (TCS) that will provide resources to help it produce more revenues and generate additional jobs in the community.
“We’d like to expand our international presence two- to three‑fold over the next few years,” says Lauren Iannetti, BioMedica’s vice‑president of business development, noting that the private company’s strategy is based on selecting distribution partners in the field, with the assistance of the TCS, that can help it grow. “We want to be market leaders.”
BioMedica was started in 1999 as a medical device company focused on bringing affordable health care to countries around the world in the field of haemostasis (bleeding) and thrombosis (clotting) in the body. Its plasma‑based products are sold through a network of distributors to laboratories and used in panels of tests. They are either directly marketed under the BioMedica brand or purchased by instrumentation companies, which then sell the products under their own labels.
The company was revamped five years ago under a new president and CEO, Brian Jeffers, and it renewed its commitment to routine coagulation testing in the international market. Three years ago, BioMedica expanded to include a specialty coagulation testing line through a firm that it acquired in Stamford, Connecticut, which increased its offering to some 100 products.
Tips for life sciences companies looking to go global
Exporters looking to aggressively extend their global reach in a field such as medical devices need passion, drive and a good business plan that ensures they don’t over extend, the experts say.
“The realistic thing is how much business can a company handle,” says Butch Postma, a trade commissioner who covers the life sciences sector in Atlantic Canada and is based in Charlottetown. “It’s a work in progress with all clients.”
Companies looking at international markets have various support partners at home to assist with export readiness, Postma says. “As clients carry out their due diligence on potential markets, an excellent first step for them is to leverage the domestic TCS network in Canada.” The company’s information is verified in a client management system, he says, making the client aware of the TCS’s service offerings and carrying out an introduction to TCS officers abroad. “This is all part of the beginning steps as we support the client with a recommended strategy, contacts and focused intelligence for the market or markets identified.”
The biggest challenge for small and medium enterprises (SMEs) is to get themselves known to new customers, he says, noting that many also “fall down on not following up” once they’ve made initial contacts. “Sometimes you have the president of the company who’s also the marketing guy, who’s also the finance guy. And when he gets back to the office the international business component takes a backseat, because there’s other things that demand his attention.”
Aurora Polo, a trade commissioner in Barcelona whose responsibilities include Spain’s life sciences and health industries sector, says the best market-entry strategy for Canadian medical devices or diagnostics SMEs is “to identify a good distributor or commercial partner with the right knowledge of the market and industry sector.”
It’s important for a potential partner to have contacts in both the public and private health-care sectors, with expertise in the regulatory framework for such devices. It’s also critical to have appropriate knowledge of the bid procurement structure and processes at the local, regional, national and international level.
Having the right contacts and being able to provide adequate technical support are key, she says. “Visiting the market is also a must, as personal relations are important to establish long-standing solid business relations with distributors and commercial partners.”
Today the company has about 50 employees and it is transferring that U.S. operation to its location in Windsor, west of Halifax, where it occupies a former high school in an agricultural setting. “It allows us to lean into that aggressive growth space,” says Iannetti, noting that more than 98 percent of BioMedica’s products are exported, with the help of the TCS.
“It’s an excellent resource,” she says of the TCS, which has chosen BioMedica for the six-month fast‑track pilot. The program is intended to give 20 firms priority service and help them grow. BioMedica has selected 15 countries to focus on, including 10 markets where the company is not very well established or “we think we can do more,” Iannetti says, among them Dubai, Spain and South Africa. There are also five brand‑new countries for BioMedica, including Mexico, India and Hungary.
Iannetti says that in Spain, BioMedica has “dabbled here and there,” but it is now looking to advance significantly with the assistance of Aurora Polo, a trade commissioner in Barcelona who covers the country’s life sciences and health industries sector.
The company faces hurdles there from language barriers to complex regulations for medical devices, Iannetti says. “We rely on Aurora to bring forward potential leads of companies that would be ideal partners for us.”
Polo says Spain is among the top five countries in Europe in sales of medical devices, “however it is competitive, with many players who are all attracted by the market potential,” she says. “With our help, BioMedica has been able to establish contact with some of the top diagnostics medical device and health technologies distributors, commercial partners and manufacturers.” The majority of these have confirmed an interest in collaborating with BioMedica.
Iannetti says the company replies on Polo’s guidance. “We’re the experts on our products, and we greatly rely on the trade commissioners to be experts on the in‑market details.”
TCS specialists can check out leads and make introductions to possible distributors “rather than us making cold calls,” she says, which helps to “legitimize” the company. “If the trade commissioner can vet the potential partner and give it the thumbs up, that instantly eliminates many of our concerns.”
The TCS organizes events, for example at Medica, a giant international trade show for the medical sector held each year in Düsseldorf, Germany. At the one in November 2018, BioMedica had 50‑plus side meetings, Iannetti says, many of which the TCS set up.
It also offers assistance at home, through its regional office in Halifax. Butch Postma, a trade commissioner who covers the life sciences sector in Atlantic Canada and is based in Charlottetown, “has been a great champion of ours,” Iannetti says, from suggesting strategies to proposing new markets. “He’s on it.”
Postma says the company is “an excellent user of the TCS,” and has been “making aggressive plays internationally,” from expanding its export targets to enhancing its market share in countries where it already has business.
“They have a good business plan and from an international point of view they have a combination of product and people to really carry it out,’” says Postma, who calls himself “a matchmaker between the client and my colleagues abroad.”
BioMedica’s Brian Jeffers says that the TCS has helped the company implement its global objectives. “The TCS, both here and in international markets, has been highly effective for us and a pleasure to work with,” says Jeffers. He is a member of the TCS industry Life Sciences Sector Advisory Group, which looks at trends and changes in the sector and offers guidance to help the TCS develop and deliver programs and services to life science exporters.
BioMedica markets itself as “proudly Canadian,” Iannetti says. “There’s a view that Canada and our products are very high quality.” She hopes the TCS can help the company “navigate some of the trickier markets” and help with matters such as payment issues and logistics as the company increases its reach.
It has a busy and active research & development team that’s looking at disruptive technologies, for instance new ways of doing blood coagulation testing, Iannetti says.
BioMedica looks for well‑established distributors that are the “right fit,” says Iannetti, screening and selecting those that can act autonomously on its behalf. “We don’t want to have to hand hold and we don’t need to babysit them.” This makes it imperative that “the trade commissioners are on task so we’re confident we’re signing up the right partners,” she adds.
Innovative companies combine technologies to speed up lateral flow assay development time
Halifax, Nova Scotia–(Newsfile Corp. – January 16, 2019) – Sona Nanotech Inc. (CSE: SONA) today announced a collaboration with Australia-based nanotech company Anteo Technologies Pty Ltd to speed up the development of lateral flow immunoassays.
Under the terms of the agreement Sona will supply its unique, proprietary gold nanorod technology to Anteo, which will combine it with its own proprietary AnteoBind ™ technology and various biomarkers including, but not limited to, cardic (cTnI), sepsis (CRP) markers and HCG, the well-known fertility marker used in pregnancy tests. Anteo will supply Sona with these solutions for assessment in a lateral flow assay format as well as conducting its own in-house assessment.
Because lateral flow assays are relatively cheap and easy to produce, more than 2 billion are manufactured every year, including more than 400 million each for malaria and HIV tests (1). The lateral flow market was worth an estimated US$6 billion (C$7.9 bn) in 2018 (2).
Sona Nanotech CEO Darren Rowles said: “The project aims to co-develop sets of reagents that can benefit all lateral flow assay developers worldwide, by providing them with products that can reduce a key production process timeframe, while increasing performance of tests and the benefits of multiplexing. By integrating Sona’s gold nanorod technology with Anteo’s surface chemistry technology we have the potential to create innovative new products for the market. We are excited to be working with Anteo and look forward to a productive collaboration.”
Anteo Technologies Pty Ltd is a fully-owned subsidiary of Anteo Diagnostics Ltd, an ASX listed company (ASX:ADO). The company, which has its head office in Brisbane, Queensland, Australia, develops and commercialises products in the life sciences research, in-vitro diagnostics, energy and medical devices markets.
Charlie Huang, Anteo’s head of research and development, said: “We have been impressed by Sona’s unique gold nanorods and their impact in the lateral flow market. We believe that our combined technologies have great potential. We are excited about the new opportunities this could bring for both companies.”
(1) https://www.researchgate.net/publication/324096920_Improving_Lateral_Flow_Assay_Performance_Using_Computational_Modeling(2)https://www.prnewswire.com/news-releases/global-lateral-flow-assay-market-is-projected-to-reach-usd-8-7-billion-by-2023-from-usd-6-0-billion-in-2018-growing-at-a-cagr-of-7-7-from-2018-to-2023–300754197.htmlAbout Sona Nanotech Inc.
Sona Nanotech Inc. is a nanotechnology life sciences firm that has developed two proprietary methods for the manufacture of rod-shaped gold nanoparticles. The principal business carried out and intended to be continued by Sona is the development and application of its proprietary technology for use in multiplex diagnostic testing platforms that will improve performance over existing tests in the market.
Sona’s gold nanorod particles are CTAB (cetyltrimethylammonium) free, eliminating the toxicity risks associated with the use of other gold nanorod technologies in medical applications. It is expected that Sona’s gold nanotechnologies may be adapted for use in applications, as a safe and effective delivery system for multiple medical treatments, pending the approval of various regulatory boards including Health Canada and the FDA.
Sona is a publicly listed company on the Canadian Securities Exchange existing under the laws of Nova Scotia, with its operations in Nova Scotia.
About Anteo Group – Anteo Diagnostics Limited (ADO: ASX) & Subsidiaries (Anteo Technologies Pty Ltd is a fully-owned subsidiary of Anteo Diagnostics Ltd.)
Anteo Group is a surface chemistry company with Intellectual Property (“IP”) in its core technology product groups: AnteoCoat™, AnteoBind™ and AnteoRelease™. The Company’s purpose is to create shareholder value by identifying and solving important global industry problems and providing unique value-add solutions for its customers. Anteo’s customers operate in the Life Sciences, Diagnostics, Energy and Medical Devices markets.
For more information, please visit www.anteotech.comFor More Information
For more information about Sona, please contact:
Darren Rowles
President and Chief Executive Officer
Telephone: (902) 442-7192
Email: Darren Rowles [email protected]
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the Amalgamation (including the structure of the Amalgamation), the Amalgamation (including shareholder approval, shareholder support, and other terms), the Private Placement (including its completion and the use of proceeds from the Private Placement), the directors and management of the resulting issuer upon completion of the Amalgamation, and the implementation of Sona’s business plan. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the completion of the Amalgamation and matters relating thereto; and risks associated with the marketing and sale of securities, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, and the volatility of the Company’s common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others, risks related to Sona’s proposed business, such as failure of the business strategy and government regulation; risks related to Sona’s operations, such as additional financing requirements and access to capital, reliance on key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks related to Sona and its business generally, such as infringement of intellectual property rights and conflicts of interest. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. While the Company may elect to, it does not undertake to update this information at any particular time.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES]]>
Read the original press release here
Halifax, Nova Scotia–(Newsfile Corp. – December 4, 2018) – Sona Nanotech Inc. (CSE: SONA) has signed a collaboration agreement with one of Europe’s largest lateral flow test developers, who will integrate Sona’s nanorod technology into their market-established lateral flow assays.
Operon SA, based in Zaragoza, Spain, produces a range of rapid diagnostic test and molecular diagnostic products, which it exports to more than 50 countries.
Operon and Sona have agreed to work together to improve the performance of Operon’s currently in-market lateral flow tests to help further establish their market share in the infectious disease arena.
If the feasibility study is successful, further development will take place with the expectation to launch products into the market in the first half of 2020.
Sona CEO Darren Rowles said: “Sona Nanotech is growing its presence in the lateral flow market, and this agreement with one of the largest and most respected developers in Europe demonstrates the scale of our ambition. We are confident that Sona’s unique gold nanorods will improve the performance of Operon’s tests while remaining cost-competitive, allowing expansion of their market share in this multi-billion-dollar market segment*. I am confident this collaboration is just the start of a long and productive relationship between our companies.”
Tomas Toribio, MD of Operon, said: “Operon is always looking for new innovations that will improve the performance of our diagnostic tests and provide a more cost-effective offer for our customers. Sona’s gold nanorods are a unique and impressive technology and we look forward to working together to maximise their potential in our lateral flow assays.”
About Sona Nanotech Inc.
Sona Nanotech Inc. is a nanotechnology life sciences firm that has developed two proprietary methods for the manufacture of rod-shaped gold nanoparticles. The principal business carried out and intended to be continued by Sona is the development and application of its proprietary technology for use in multiplex diagnostic testing platforms that will improve performance over existing tests in the market.
Sona’s gold nanorod particles are CTAB (cetyltrimethylammonium) free, eliminating the toxicity risks associated with the use of other gold nanorod technologies in medical applications. It is expected that Sona’s gold nanotechnologies may be adapted for use in applications, as a safe and effective delivery system for multiple medical treatments, pending the approval of various regulatory boards including Health Canada and the FDA.
Sona is a publicly listed company on the Canadian Securities Exchange existing under the laws of Nova Scotia, with its operations in Nova Scotia.
About Operon
Operon has been developing, manufacturing and selling lateral flow tests to the global market for more than 26 years. Its main product lines are:
Raw Materials: monoclonal antibodies and recombinant antigens.
Immunocromatography: rapid lateral flow tests.
Molecular Diagnostic tests: Opegen and OligoGen.
Customized services: contract manufacturing of lateral flow tests and raw materials.
For More Information
For more information about Sona, please contact:
Darren Rowles
President and Chief Executive Officer
Telephone: (902) 442-7192
Email: Darren Rowles [email protected]]]>
Read the original article here
Dental technology company BlueLight Analytics has closed a $3 million funding round and plans to use the money to launch a new data analytics product that can be installed in any dental office.
The Halifax company released a statement Wednesday saying the lead investor in the funding round was CIC Capital Ventures, the North American venture capital arm of French private equity firm CM-CIC Investissement. Innovacorp, the Nova Scotia government’s early-stage venture capital agency, also joined the round.
It was the first time BlueLight has raised venture capital financing, though it has raised about $3 million in equity funding from angel investors.
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(Photo: BioMedica Diagnostics Inc.)
