CABHI announces $9.5 million investment in 30 companies to improve quality of life for older persons

TORONTO, June 18, 2024 /CNW/ - Coinciding with Seniors Month in Ontario, the Centre for Aging + Brain Health Innovation (CABHI), powered by Baycrest, released today the list of companies it is supporting with a total of $9.5 million through its Mentorship, Capital, and Continuation (MC²) Program to mobilize innovation and advance the goals of Canada's National Dementia Strategy.

"As the first of its kind solutions accelerator dedicated to driving innovation in the aging and brain health sector, CABHI plays a crucial role in the development and commercialization of innovative products and services to improve the lives of older adults," says the Honourable Francois-Philippe Champagne. "CABHI's unique knowledge and expertise ensures that the best solutions get in the hands of those who need them while also building the economy of the future."

With a focus on early-stage healthtech and fintech companies, CABHI's MC² Program helps businesses achieve validation and business milestones as they progress through commercialization, growth, and scaling. In addition to funding, the program provides acceleration services such as access to end-user validation, business and research expertise, CABHI's Innovation and Investment Networks, and more.

"CABHI's MC² is a pioneering program that addresses critical funding gaps early-stage innovators frequently face by providing financial support and acceleration services to promote growth and sustainability," says Dr. Allison Sekuler, President and Chief Scientist at CABHI.

Several of the companies receiving support are working to address key points within the National Dementia Strategy, such as improving the quality of life for people living with dementia and their caregivers. Additionally, for the first time in the MC² Program's seven funding rounds, select companies, like QurCan Therapeutics, are in the biotechnology field and are working towards developing treatments for cognitive and age-related disorders.

"CABHI's investments in innovations for people living with dementia and their caregivers are making a tremendous impact across the board, here in Ontario and around the world," says the Honourable Jill Dunlop, Minister of Colleges and Universities. "Our government is proud to support CABHI's vital work that improves the lives of older adults in our communities."

A full list of funded companies can be found on CABHI's website.

Additional Quotes:
"Having now solidified our most recent two funding cohorts, the MC² Program has directed over $33 million to companies working with older persons to develop solutions that have the potential to reimagine the aging experience," says James Mayer, Senior Manager of Investments & Venture Services at CABHI.

"We are immensely grateful for the support from CABHI's MC² Validation Funding," says, Bronwyn Bridges, CEO of PragmaClin, one of the CABHI-portfolio companies receiving funding from the $9.5 million investment. "This funding has been instrumental in advancing PRIMS, our digital health solution for Parkinson's Disease management. With this support, we have been able to accelerate the development and prepare for rigorous testing, ensuring that PRIMS meets the highest standards of accuracy and reliability. Our goal is to transform the way Parkinson's Disease is monitored and managed, and CABHI's investment brings us one step closer to making that vision a reality."

About the Centre for Aging + Brain Health Innovation:
The Centre for Aging + Brain Health Innovation (CABHI), powered by Baycrest, was established in 2015 to support researchers, clinicians, and innovators, as they develop, validate, scale, and promote the adoption of innovations that improve the lives of older persons, including those impacted by dementia. CABHI is a unique collaboration of healthcare, science, industry, not-for-profit, and government partners. Through its funding programs and tailored acceleration services, including access to diverse end user groups, CABHI advances transformative aging and brain health innovations across Canada and the world. For more information, visit: www.cabhi.com.

SOURCE Centre for Aging + Brain Health Innovation

Media Contact: Rhea Singer, Senior Communications Specialist, [email protected], 437-734-3708