With $30 million in follow-on funding so far, more companies are joining the BioCreate accelerator
Eight new start-ups have been welcomed into BioCreate, an $11.6-million business accelerator giving financial and commercial support to Ontario biotech companies that are creating game-changing solutions in the food and agriculture, health, and cleantech sectors.
BioCreate was established by Ontario Genomics through a Government of Canada investment of more than $5.6 million from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
Each highly vetted company in the program gets $150,000, 18 months of business mentorship, access to critical infrastructure and the chance to pitch to potential investors. Since the program started in 2023, BioCreate companies have raised $30 million in funding and earned sales and revenue of $8.8 million.
Here are the newest BioCreate start-ups:
- Ardra Bio is a business-to-business biotech company focused on creating sustainable and ethical ingredients that are used in food and cosmetics products.
- Epiloid is a biotech company focused on finding effective treatments for neurological conditions through data analysis and personalized medicine.
- Inteligex is a genomics company hoping to change the way traumatic spinal cord injuries are treated by developing drug and stem cell therapies for patients.
- Materia Bioworks is revolutionizing the way eco-friendly materials are being made by simplifying the process for companies to produce biomaterials like sustainable plastics and packaging.
- Material Futures is taking all-natural dyes to a new level by using the power of microbes to engineer colourants for a variety of industries including food, cosmetics and fabrics.
- Mediphage is a genomics company that has created trademark DNA technology to improve the quality of key ingredients in genetic medicines.
- Noa Therapeutics is a biotech company working to create better treatments for the millions of people struggling with illnesses like eczema, ulcerative colitis and inflammatory bowel disease.
- ProteinQure is looking to lead the charge in making Ontario a thriving hub of drug development and research, while focusing on breast cancer therapies fuelled by peptides.
BioCreate’s Program Director, Elizabeth Gray, says, “Getting into BioCreate isn’t easy. Our acceptance rate is only 15% because of a stringent selection process that includes a panel of outside experts to make sure our companies have the greatest potential to succeed and get their technologies scaled up and into market quickly.”
“Congratulations to the eight companies that have joined the BioCreate program,” says the Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). “They will be working hard to improve the lives of Canadians and it is our government’s priority to support our budding companies so they have access to the tools they need to succeed in important sectors like health, food, agriculture and cleantech.”
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About Ontario Genomics
Ontario Genomics is a non-profit organization funded by the Government of Ontario and other partners. Since 2000, we’ve been involved with cutting-edge science to find homegrown solutions to challenges the world faces like climate change, food insecurity and in healthcare. Find out more at OntarioGenomics.ca.
About FedDev Ontario
For 14 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
Media Contacts
Maggie Blood
Innovation Communications and Public Affairs Manager
mblood@ontariogenomics.ca