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
Compass Rose Fund Profile
|Investment per start-up*||$1M to $5M, dispersed in tranches based on achieving pre-established milestones|
|Funding Stage||Seed & follow-on|
|Development Stage||Discovery to early clinical|
|Type of Investment||FACIT 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.|
|Eligibility||Ontario-based academic researchers and start-ups in the oncology space|
|Preferred Investment Qualifications||Cutting 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 Investment||Achieve a value inflection point, positioning investees to attract additional funding from a wider investor network|
Projects Recently Funded By The Compass Rose Fund
We are investing in Ontario’s innovation economy through these breakthrough start-ups.