FACIT's pitch competition continues to build a
culture of entrepreneurship in Ontario to benefit people living with
cancer
TORONTO, May 6, 2024
/PRNewswire/ - At the sold-out Falcons' Fortunes pitch competition
hosted by FACIT, Dr. Hatim Fakir delivered the winning pitch
as selected by the panel of judges for the $100,000 Ernsting Entrepreneurship Award. The
recognition aligns well with the start of Brain Tumour Awareness
for the month of May. Developed at London Health Sciences Centre,
Dr. Fakir's RadioSphere is a patient-centred technology to
revolutionize existing gamma knife radiotherapy procedures by
providing the most precise tumour localization capabilities.
Surgeons armed with more refined 3-D localization information can
better pinpoint challenging tumours, including those arising from
multi-focal metastases, and eliminate them without affecting
healthy adjacent tissue. The award and commercialization support
from FACIT is an important step to advancing a game-changing
technology that will result in better comfort and care for
patients.
Emceed by Brian Bloom, Chairman
& CEO of Bloom Burton & Co., the Falcons' Fortunes event
showcased six of Ontario's latest
and compelling innovative cancer solutions being developed by
entrepreneurial scientists as they competed for the best pitch
award. FACIT's Prospects Oncology Fund sponsors the award, which is
a critical source of pre-seed capital for early-stage,
proof-of-concept projects with commercial potential. Serial
entrepreneur and patient advocate Rachel
Bartholomew, CEO and Founder of Hyivy Health, also delivered
an inspirational keynote address highlighting her own journey to
create a start-up to address a need that was identified during her
recent fight with cervical cancer.
For entrepreneurs launching their early-stage ventures at
Falcons' Fortunes and others starting this path, FACIT's funds
strategically target the seed capital gap and help propel
early-stage ventures across the most critical hurdle. With an
Ontario First mandate, FACIT's successful commercialization
venture model has helped start-ups advance along the challenging
innovation pathway for over a decade. Many Falcons' Fortunes
participants who pitch their innovations at the annual event go on
to receive FACIT's seed capital and additional supports from its
network.
"All six finalists are winners, as their entrepreneurial spirit
and desire to translate discoveries into the marketplace are
important for building Ontario's
biotech industry as well as in the battle against cancer, remarked
Dr. David O'Neill, President of
FACIT. "We see a future where patients living with cancer benefit
from homegrown science and innovations, which will build prosperity
and fund future cancer research in the province."
"There are not many sources of early seed capital for
Ontario life sciences innovations
and availability of follow-on financing sources are even more
scarce," said Rachel Bartholomew.
"FACIT helps to fill this gap, and ensuring this capital is
available for Ontario
entrepreneurs is critical to advance translation so innovations can
reach patients sooner."
About FACIT
FACIT is an award-winning commercialization venture firm that
builds companies with entrepreneurs to accelerate oncology
innovation, with a portfolio that has attracted more than
$1.6 billion in investment to
Ontario. Blending industry
experience, capital and the unsurpassed clinician-scientist network
of its strategic partner the Ontario Institute for Cancer Research
(OICR), FACIT capitalizes on the province's investment in research
and healthcare to the benefit of the local economy and patients
worldwide. Cancer Breakthroughs. Realized. facit.ca
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SOURCE FACIT Inc.