Ontario Bioscience Innovation Organization Announces a Call for Applications for the 2019 Capital Access Advisory Program (CAAP®)
The Ontario Bioscience Innovation Organization (OBIO®), the leading advocate for Ontario’s health science industry, is pleased to announce a call for applications for the 2019 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 digital health 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 $150M 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.”
“Conavi was fortunate to be an early participant in the 2015 cohort of OBIO CAAP and found it to be highly valuable as we navigated the complex ecosystem in the medical technology sector”, said Dr. Brian Courtney, CEO of Conavi Medical. “We learned alongside other entrepreneurs and investors through this program. Importantly, Conavi met one of its most significant investors at an OBIO event, whose investment has had a profoundly positive impact on our company’s ability to bring a key product to market while broadening our global reach. Gail Garland and the rest of the OBIO team understand the local and global health science industry extremely well. They are pushing the envelope in terms of transforming the healthcare sector in Ontario to one that is increasingly economically productive and well-recognized on the world stage.”
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 digital health; 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 about how to submit an application, please visit the OBIO website here. The deadline for 2019 CAAP Applications is Friday, December 14, 2018 at 5:00pm EDT.
An information session for companies that want to apply to OBIO CAAP will be held at 12:00 noon on Thursday, December 6, 2018 by teleconference and in-person meeting in the OBIO boardroom, 100 College Street, Suite 215. 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 2019 Pre-CAAP program will be provided in January.
OBIO has received investment from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) for CAAP. Via this program, participating companies are eligible for funding in the form of a grant. OBIO also receives funding from Ontario’s Ministry of Economic Development, Job Creation and Trade for CAAP.
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.
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