Groundbreaking made-in-Ontario technology is automating precision lymph node dissection
March 01, 2024 – FACIT congratulates London, Ontario based Tenomix Inc. (“Tenomix”) on successfully reaching a key milestone in closing its latest financing round to help propel the medtech start-up. Tenomix’s bench-top device will save time and costs by automating the process of lymph node identification in resected tissue while providing more accurate cancer staging for better patient care. Capital from the all-Canadian investor group, which included an investment from FACIT’s Compass Rose Oncology Fund, will enable Tenomix to complete validation studies and strengthen its team in preparation for regulatory submissions.
Since winning the Audience Choice Award at FACIT’s Falcons’ Fortunes pitch competition in 2021, the founders subsequently secured an investment grant from FACIT’s Prospects Oncology Fund, facilitating the spin-out of Tenomix with intellectual property developed at the University of Western Ontario. FACIT’s province-wide investment programs are a unique source of Ontario First capital for promising early-stage oncology innovations. This healthcare innovation pathway enables further development and cultivation of local skilled and entrepreneurial talent. Having now secured follow-on investment through the Compass Rose Fund, Tenomix exemplifies how FACIT’s continuum of commercialization programs can strategically capitalize on the province’s support for research innovation. This surely spurs promising companies to grow roots in Ontario and bring cancer solutions to benefit patients sooner. Onward and upward Tenomix!
To learn more about this exciting Ontario startup, read the full news release here.
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
PORTFOLIO
FACIT actively manages our diverse portfolio of Ontario oncology assets (including therapeutics, imaging, diagnostics, and technology platforms) that span all stages of commercialization, from proof-of-concept to clinical development.
FUNDS
With critical seed funding, FACIT makes it possible for Ontario’s best cancer research discoveries to compete globally and reach patients.