Companies in OBIO program surpass $1 billion in capital raised
The Capital Access Advisory Program has helped Canadian life sciences companies raise over $1 billion since its inception.
TORONTO — Companies supported through the Ontario Bioscience Innovation Organization's Capital Access Advisory Program have collectively raised over $1 billion in capital.
The not-for-profit organization, known as OBIO, announced the milestone on Monday.
"This landmark achievement underscores the vital role of OBIO’s CAAP as a catalyst for investment readiness in Canada’s life sciences sector," said Evan Solomon, the federal minister responsible for the Federal Economic Development Agency for Southern Ontario.
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The program, or CAAP, was launched to address the critical capital gap faced by scaling health science ventures.
It offers post-seed companies tailored advisory support, intensive investment readiness coaching, commercial strategy development, and direct introductions to an international network of venture capitalists, angel investors, and strategic corporate partners.
OBIO also announced the six companies joining the program's 2026 cohort.
They are A2i Therapeutics, Alethea Medical, Anagenex Bio, Corstem, InVivo AI and Nuravax.
"These six companies will benefit from customized strategic planning, advanced fundraising support, business development guidance, and warm introductions to venture investors, healthcare executives, business experts, and strategic partners," OBIO said.
The companies will have the opportunity to showcase their work at the annual OBIO Investment Summit in Toronto from Feb. 2 to 4, 2027.
Since 2018, companies that have presented at the summit have collectively raised over $3.1 billion in capital.
Dr. Maura Campbell, president and CEO of OBIO, said the program has made a lasting impact on Canada's innovation ecosystem.
It helps companies reach critical value inflection milestones, generate new intellectual property, raise capital, and bring innovations to market for the benefit of all Canadians, Campbell said.
Michael Phillips, co-founder and CEO of medical device company Vena Medical, said the program helped his firm secure key partnerships and funding.
Vena Medical provides physicians the world’s smallest camera capable of going inside veins and arteries, significantly advancing the treatment of vascular diseases.
Dr. Molly Shoichet, a professor at the University of Toronto, said the program's success demonstrates the strength of Ontario's life sciences sector.
OBIO is a not-for-profit, membership-based organization founded in 2009.
It is engaged in strategy, programming, policy development and advocacy to address the needs of companies developing innovative human health products.
The Government of Canada, through FedDev Ontario, has provided support for the program.
With files from Financial Post