New partnership between CTS Santé and Desjardins-Innovatech - $5 million for young Québec health technology enterprises

MONTRÉAL, Nov. 18, 2015 /CNW Telbec/ - Desjardins – Innovatech and the Campus des technologies de la santé (CTS Santé) today announced the launch of a new financing program to support the creation of promising businesses in the medical technologies industry. With a total budget of $5 million, the program will be able to finance a minimum of five businesses per year over a five-year period.

For Guillaume Hervé, CTS Santé's Chairman of the Board, backed by the muscle of CTS Santé's highly specialized expertise, the financing program will become a game changer for young businesses achieving a critical stage of development. "Desjardins–Innovatech capital will be used essentially to commercialize these companies' products and services in new markets. With the solid backing of CTS Santé and all the support of our impressive network, these young enterprises will be in a stronger position to grow in their business environment." 

According to Gérald St-Aubin, Vice-President, Strategic Investments and Sponsor Relationships at Desjardins Business Capital régional et coopératif, manager of the Desjardins–Innovatech Fund, the partnership fills a gap in the financing chain for young businesses in Québec's medical technologies industry. "There are too few integrated programs that include long-term financing, mentorship and support from actual experts in the field," notes Mr. St-Aubin. The Desjardins–Innovatech and CTS Santé partnership is a real bright spot for the future of these enterprises."

Two businesses already selected

CTS Santé and Desjardins–Innovatech recently began the enterprise selection process, and medical technology industry flagships Emovi and Biomomentum have already been chosen for the program.

• Emovi is a Laval-based enterprise that provides knee function medical solutions. With its partners in Québec's university research community, among them the CRCHUM and École de technologie supérieure (ÉTS), Emovi has developed KneeKG™, a unique product worldwide. The company owns the exclusive licence to commercialize KneeKG™ and has begun marketing the system in Canada, the United States and Europe. Emovi hopes to broaden access to the technology and help improve the quality of life for people struggling with diseases such as knee osteoarthritis, ligament or meniscus tears, patello-femoral syndrome, tendonitis and biomechanical deficiencies that cause pain and disability. Emovi employs ten.
• Founded in 2009, Biomomentum Inc. is a Laval-based company that designs, produces and sells high tech devices for the biomechanical evaluation of biomaterials and cartilage. The company commercializes worldwide its Mach-1™ micromechanical tester, used in laboratories to develop new medical technologies and pharmaceuticals. Biomomentum also develops the Arthro-BST™ arthroscopic probe, a device used to diagnose articular diseases, enabling orthopaedic surgeons to personalize treatment protocols and accelerate patients' return to active living. The company employs a staff of six.

ABOUT CTS SANTÉ

CTS Santé is a medical technology industry business accelerator providing support to businesses to stimulate momentum and substantially enhance their chances for success. Our aim is to offer startups a unique value proposition with a structured framework allowing promising enterprises to concentrate on developing their technology, achieve market momentum and attain the international visibility they need to grow and develop.

ABOUT DESJARDINS–INNOVATECH

Created in 2005 and managed by Desjardins Business Capital régional et coopératif, Desjardins–Innovatech was formed through a joint initiative of the Québec government and Capital régional et coopératif Desjardins. With commitments of over $55 million in nearly 40 companies and funds, Desjardins–Innovatech's primary mission is to promote and support venture capital financing for Québec companies working in technology development or industrial innovation, and business succession for Québec innovation entrepreneurs. To fulfil its mission, Desjardins–Innovatech partners with other technology players — specialized investment funds, entrepreneurs, angel investors, technology enterprise accelerators — to provide even greater outreach to SMEs with promising prospects for driving job creation and economic development.

SOURCE Desjardins-Innovatech

(for journalists only): Campus des technologies de la Santé (CTS Santé), Yvan Beaudoin, General Manager, 514 710-0083, [email protected]; Desjardins - Innovatech, Richard Lacasse, Spokesperson, Media Relations, 418 835-8444 or 1 866 835-8444, ext. 3163, [email protected]