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
cTRL Therapeutics
Radiant Biotherapeutics
Xpan Inc
Yellowbird Diagnostics Inc.
Virano Therapeutics
DTPx Therapeutics (UHN)
Point Surgical Inc.
OICR
OICR (Dr. L. Stein)
Hyivy Health
HDAX Therapeutics
OICR (QuAccel)
Air Microfluidic Systems Inc.
Tenomix
Sunnybrook Research Institute (Dr. H. Leong)
doctalk
Bridge7 Oncology
Replica Analytics (Aetion)
Multimagnetics Inc.
University of Toronto (Dr. R. Laposa)
OICR (Dr. R. Al-Awar)
Sunnybrook Research Institute (Dr. G. Czarnota)
University of Toronto (Dr. I. Staglijar)
Polumiros
Talon Pharmaceuticals
Notch Therapeutics
OICR (Dr. R. Al-Awar)
QurCan Therapeutics (formerly Nanology Labs)
16-Bit
DNAstack
Dalriada Therapeutics
KA Imaging
Radialis Medical
Ottawa Hospital Research Institute (Dr. C. Ilkow)
OICR (Dr. J. Bartlett)
Propellon Therapeutics Inc. (Triphase Accelerator)
Pattern Pharma (formerly Realist Pharma)
Queen’s University (Dr. M. Petkovich)
Fusion Pharmaceuticals (acquired by AstraZeneca)
Novera Therapeutics Inc.
FocusOnCare
Capnostics (Acquired by PAVmed)
Sunnybrook Research Institute (Dr. G. Czarnota)
OICR (Dr. J. Bartlett)
Sunnybrook Research Institute (Dr. J. Gariepy)
Ziliomics
Sunnybrook Research Institute (Dr. N. Matsuura)
OICR (Dr. R. Al-Awar)
Turnstone Biologics Inc
Fluorinov Pharma (acquired by Trillium Therapeutics)
OICR (Cellax)
XLV Diagnostics
Privacy Analytics (acquired by IQVIA)
Arrayus Technologies (formerly Harmonic Medical)
McMaster University (Dr. J. Valliant)
Triphase Accelerator Corporation
Kapplex (acquired by Miroculus)
Xagenic (acquired by General Atomics)
DLVR Therapeutics
Receptor-OncoTek (Dr. C. Allen – University of Toronto)
DVS Sciences (acquired by Fluidigm/Standard BioTools)
UHN (Dr. L. Zhang – TorCell Therapeutics)
UHN (Dr. A. Schimmer)
Sunnybrook Research Institute (Dr. J. Filmus)
UHN (Dr. M. Sherar)
ArcticDx
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)