Access to life science infrastructure is a core appeal of the $7-million program.
HAMILTON, ON, July 17, 2024 – Since its launch in 2021, Innovation Factory’s SOPHIE program has helped to grow, accelerate, and support more than 160 innovative Ontario life science start-up and scaling companies. The Southern Ontario Pharmaceutical and Health Innovation Ecosystem (SOPHIE) program provided $5.3 million in direct grants, mentorship and strategic connections to support the commercialization of life science technology. The program provided access to Hamilton’s clinical and research infrastructure as well as Ontario’s most respected Contract Development and Manufacturing Organizations (CDMOs).
The comprehensive program was formed with several pillars: SOPHIE commercialization project grants, Canadian Medtech Alliance (CAMEDA) manufacturing project grants, the Synapse Life Science Pitch Competition, and medical assessment and physician advisory services. Through these initiatives, SOPHIE has engaged more than 40 ecosystem partners, all in an effort to help small and medium-sized companies, specifically in the health, medical device and pharmaceutical space, to develop and commercialize new products and services.
Over the past three years, SOPHIE has awarded 71 grants, with some up to $100,000, to life science companies in Southwestern Ontario and surrounding areas. The success of the program has been impactful, as a result of the $15.3 million in collaborative initiatives leveraged through the program, the recipients have created or maintained 194 jobs, and created or successfully licensed 37 new pieces of intellectual property.
SOPHIE recipients include Epineuron Technologies Inc.; which has successfully registered 5 patents; Altis Labs’ “Nota” platform is now in-market and FluidAI Medical is scaling up its manufacturing with limited markets in Canada, Saudi Arabia, Qatar, and United Arab Emirates.
In addition to funding, the SOPHIE program has provided critical access to the research and clinical capabilities of globally recognized academic and hospital institutions. For health tech and medical device innovators, gaining insights from front-line staff and practitioners can be invaluable to understanding standards of care, product-market fit and technology requirements. Similarly, engaging with Ontario’s leading CDMOs provided program participants the opportunity to develop their initial batch manufacturing is an incredible benefit.
“We were at a point where we had a very strong proof of concept, we knew who we wanted to partner with to help validate the technology, and SOPHIE enabled us to go faster,” says Maria Antonakos, Co-Founder & Chief Operating Officer, Allarta Life Science and a SOPHIE grant recipient. “As a result, we reached a milestone inflection point, whereby we have the data to have very serious conversations with Series A investors and strategic partners. At the end of the day, we’re a Hamilton, Ontario-based company, but thanks to SOPHIE, we’re now a global company.”
“The SOPHIE program has significantly accelerated the growth of life science start-ups in Ontario, enabling innovative companies to bring their technologies to market faster. By providing crucial funding, training, and access to top-tier clinical, research and manufacturing infrastructure, SOPHIE has helped over 160 start-ups to grow and scale their business,” said David Carter, CEO of Innovation Factory. “The success we’ve seen, from new products and patents to acquisitions and job creation, underscore the program’s impact. SOPHIE is more than funding support; it’s about building a community of innovators who are transforming healthcare and biotechnology on a global scale.”
Delivered by Innovation Factory, in collaboration with the Synapse Life Science Consortium, the SOPHIE program launched with a $7-million investment from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
“Our life sciences entrepreneurs help to ensure Canadians well-being while keeping our economy strong,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “The Government of Canada is pleased to support Innovation Factory and Synapse Life Science consortium as they continue to boost the growth of Canadian life science companies through the SOPHIE program. By providing vital support to our entrepreneurs and start-ups, the SOPHIE program is helping transform Canada’s life sciences sector and improve the health of Canadians.”
Instrumental in the success of the SOPHIE program, McMaster University, Hamilton Health Sciences, St. Joseph’s Healthcare Hamilton, The Research Institute of St. Joe’s Hamilton, Mohawk College, Cortex Design, Engineering CPR, Inertia Product Development, Avania, Linamar, Megalab Group Inc., Microart and McMaster Manufacturing Research Institute (MMRI) demonstrated the power of collaboration in driving innovation and commercialization in the life sciences sector. Together, these organizations played crucial roles in various aspects of the program, from providing cutting-edge research facilities and clinical insights to offering specialized expertise in product development and manufacturing.
For more information about SOPHIE or to read about other SOPHIE successes, please visit our website.
About Innovation Factory
Innovation Factory is a not-for-profit business accelerator, serving as the catalyst for technology innovation in the Hamilton, Halton, Brant and Norfolk regions since 2010. Innovation Factory provides business services, training, mentorship, and strategic connections to drive market adoption, leverage intellectual property, and increase revenues, investment, and jobs. Innovators can also access sector-specific resources including exclusive smart transportation test environments and data; and a formal life science and health innovation ecosystem.
About FedDev Ontario
For 15 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our success stories, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
