Kingston Life Sciences Firms Secure Over $280,000 in Federal Aid

Five early-stage life sciences companies in Kingston, Ontario, have been awarded a total of more than $280,000 in federal funding through the Helix Funding program, administered by the Kingston Economic Development Corporation (KEDCO). This initiative, launched in April 2023, aims to support health and life sciences companies by providing matching funds ranging from $10,000 to $100,000 for scaling costs. The focus is particularly on fostering innovation and advancing commercialization within the sector.

KEDCO’s Investment Manager of Life Sciences & Health Innovation, Ben McIlquham, highlighted the importance of collaboration in this effort. The program works alongside a network of over 20 health and life sciences programs in the region, known as the Validation Network. This network connects companies with essential expertise, equipment, and services that are often beyond their reach.

“There’s a broader area of services needed, like help with Health Canada, FDA approval, helping with AI compute, clinical trials,” McIlquham explained. He emphasized that addressing these needs is crucial for companies preparing for significant fundraising rounds, such as Series A or Series B.

Supporting Innovative Startups

The first cohort of companies benefiting from the Helix Funding program includes:

– **Cntrl+ Inc.**: A femtech startup focused on developing a Class II vaginally inserted bladder support device for women experiencing stress urinary incontinence.
– **eTransplant**: This company is creating a secure, patient-centered digital application aimed at modernizing communication between kidney transplant patients and their healthcare teams.
– **LenSense Inc.**: Developing a non-invasive smart contact lens system designed for continuous monitoring of intraocular pressure in glaucoma patients.
– **mDETECT Inc.**: Working on a liquid biopsy platform that detects multiple types of cancers.
– **Octane Innovation Inc.**: Advancing a wearable electromagnetic field device intended to treat chronic pain.

McIlquham also announced plans for a new wet laboratory in Kingston, which will provide greener companies with essential infrastructure during their formative years. This facility aims to fill a significant gap in lab space availability, not only in Kingston but across Ontario.

The lab will function as a co-working space, with participating companies paying subsidized rent that will transition to market rates over a period of three years. McIlquham noted, “The plan is for it to kind of get them up, ready, out, and then that next space comes in.” He also mentioned that there is already a queue of companies eager to utilize this new facility, which is set to officially open in March 2024.

By combining funding opportunities with a dedicated incubation space, KEDCO aims to support the growth of these companies and enhance their chances of success in a competitive market. The initiative reflects a broader commitment to fostering innovation and economic development in Kingston’s life sciences sector.