Compass Rose Oncology Fund

FACIT’s Compass Rose Fund helps Ontario’s cancer research innovators, arising from both public and private sectors, realize the commercial possibilities of their inventions by supporting early stage development projects. The Compass Rose Fund anchors and scales biotechs and attracts investment to Ontario, supporting the province’s competitive position as a destination for biotechnology.

FACIT’s Compass Rose Fund is designed to address the funding gap between traditional public granting agencies and private investors, supporting cancer-related, early stage commercialization activities. These include: proof-of-concept (POC), validation, standard operating procedures, market analyses, IP protection and acquisition, expert guidance and management. Investments typically range between $1M and $5M, dispersed in tranches based on achieving pre-established milestones during the planned development

“In addition to receiving this critical investment at a pivotal moment in our company’s development, we are fortunate to benefit from continued exposure to FACIT’s extensive network of industry experts and investors.”

Dr. Marc Fiume, CEO, DNAstack (2019)

Compass Rose Fund Profile

Investment per start-up*$1M to $5M, dispersed in tranches based on achieving pre-established milestones
Funding StageSeed & follow-on
Development StageDiscovery to early clinical
Type of InvestmentFACIT will receive consideration in the form of a royalty on commercialization revenues and/or equity in start-up companies, often in the form of a convertible debenture.
EligibilityOntario-based academic researchers and start-ups in the oncology space
Preferred Investment QualificationsCutting edge technology – transformative not incremental; Significant business opportunity – differentiated, competitive technology;Defined market/technology vertical;Strong IP position – breadth, defensible, blocking ability, freedom to operate;Ability of funding to advance the technology to a value inflection point;Addresses an unmet need for cancer patients and/or cancer clinicians; Economic benefit to Ontario; Suitability of the team executing the work plan Regulatory strategy – clarity of the path, territories, time and capital required;
Main Goal of InvestmentAchieve a value inflection point, positioning investees to attract additional funding from a wider investor network
*FACIT expects to make investments at a variety of funding levels and not all projects should or will receive a maximum allowable amount.

    CONTACT US

    For further information about the Compass Rose Investment Fund, please contact us. All investment requests will be reviewed by FACIT as well as appropriate external reviewers selected from academic and/or business communities.

    Projects Recently Funded By The Compass Rose Fund

    We are investing in Ontario’s innovation economy through these breakthrough start-ups.

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    “FACIT’s leadership in financing is helping us de-risk our technology and progress discussions with venture partners for an anticipated Series A financing.”

    Dr. Mohammad Ali Amini, Co-Founder and CEO of Nanology Labs. (2021)