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 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 |
Eligibility | Intellectual Property for oncology development based in Ontario |
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.
SEARCH FILTERS:
Innovation Type
Cancer Type
Current Funding Stage
FACIT Fund
SEARCH BY KEYWORD(S)
SEARCH RESULTS:
CTRL Therapeutics
Radiant Biotherapeutics
Xpan Inc
Point Surgical Inc.
OICR
OICR
Hyivy Health
HDAX Therapeutics
OICR
Air Microfluidic Systems Inc.
Tenomix
Sunnybrook Research Institute
doctalk

Bridge7 Oncology
Replica Analytics (Aetion)
Multimagnetics Inc.
University of Toronto
OICR
Sunnybrook Research Institute
University of Toronto (Perturba)

Polumiros
Talon Pharmaceuticals
Notch Therapeutics
OICR
QurCan Therapeutics (formerly Nanology Labs)
16-Bit
DNAStack
Dalriada Therapeutics
KA Imaging
Radialis Medical
Ottawa Hospital Research Institute
OICR
Propellon Therapeutics Inc. (Triphase Accelerator)
Pattern Pharma (formerly Realist Pharma)
Talon Pharmaceuticals
Queen’s University
Fusion Pharmaceuticals Inc
Novera Therapeutics Inc.

FocusOnCare
Capnostics
Sunnybrook Research Institute
OICR
Sunnybrook Research Institute
Ziliomics
Sunnybrook Research Institute
OICR
Turnstone Biologics Inc
Fluorinov Pharma (Trillium)
OICR (Cellax)

XLV Diagnostics
Privacy Analytics (IQVIA)
Arrayus Technologies (formerly Harmonic Medical)
McMaster University

Triphase Accelerator Corporation
Kapplex
Xagenic

DLVR Therapeutics

University of Toronto (Receptor-OncoTek)
DVS Sciences (Fluidigm/Standard BioTools)
UHN (TorCell Therapeutics)
UHN
Sunnybrook Research Institute
UHN
ArcticDx
Robarts Research Institute
Profound Medical
“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)