Four Manitoba-based startups are receiving a combined $5.9 million from the federal government to support future growth opportunities in the life sciences startup sector.
The investments are part of a government effort to support growth opportunities in Manitoba’s life sciences sector.
Cerebra Health will receive a $900,0000 loan, Kane Biotech will receive a $3.7 million loan, the Bioscience Association of Manitoba will receive a $300,000 grant, and the Biomedical Commercialization Canada will receive a $1 million grant. The investments are part of a government effort to implement Grow West: The Western Canada Growth Strategy, which aims to get western energy to new markets, reduce barriers, and modernize trade infrastructure.
Cerebra Health is a digital healthtech company focused on improving access to advanced technology for sleep assessment and diagnosis. Its loan will be used to commercialize a new version of an in-home sleep disorder diagnostic system.
“I can’t overstate the importance of federal funding support to emerging companies like ours looking to develop and launch disruptive technologies from here on the Prairies,” said Dawson Reimer, CEO of Cerebra Health. “This funding from Western Economic Diversification Canada comes at a critical time in Cerebra Health’s history, supporting much of the cost of product and market development as we enter the market, while also making the opportunity more attractive to investors.”
Kane Biotech creates technologies and products that break up biofilms and destroy bacteria. It focuses on the development and commercialization of products that prevent and remove microbial biofilms. It will use its $3 million loan to commercialize a wound gel treatment for the human health market.
The Bioscience Association of Manitoba will receive up to $300,000 in non-repayable funding to establish and pilot a Preceptorship Program. The government said this program will help accelerate the growth of startups in the health sector by offering partnership opportunities with medical professionals in a healthcare setting.
Biomedical Commercialization Canada, which operates as Manitoba Technology Accelerator, will use its funding to provide management advice, coaching, and mentoring, as well as other supporting resources, skills, and tools to help startups commercialize and increase sales of life science technologies and services.
Image courtesy Pixabay