agadabio

Halifax health science firms pursue innovative solutions to challenges 

eAwaz Health

Research aims to help people struggling with rare diseases, debilitating pain and sleep apnea

Halifax – Atlantic Canada’s bioscience sector has become a key driver of economic growth and diversification for the region. The Government of Canada is investing to help three Halifax bioscience companies create innovative healthcare solutions for a wide range of challenges facing people around the world.

Federal government supports three Halifax start-ups

Andy Fillmore, Parliamentary Secretary to the Minister of Innovation, Science and Industry, announced repayable contributions totalling $1,698,750 through ACOA’s Regional Economic Growth through Innovation (REGI) program to ClearDynamic Inc., AGADA Biosciences Inc. and NovaResp Technologies Inc. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.

ClearDynamic is receiving $948,750 to explore the feasibility of a drug-free treatment to eliminate joint pain, specifically in the knee. The contribution will help the company conduct critical pre-clinical trials, including hiring skilled staff and attracting international investors.

AGADA Biosciences is receiving $500,000 to expand into a new, state-of-the-art customized laboratory in the Brewery Market building, as well as purchase specialized lab equipment and hire additional staff. The firm works with international pharmaceutical and non-profit foundations to help develop drugs for patients with rare muscle and nerve diseases. This support will help AGADA meet increased demand for its services and research.

NovaResp Technologies is receiving $250,000 to hire a consultant to speed up the design and approval of its AI-enabled software that will be integrated with existing sleep apnea devices to provide a more comfortable, personalized approach to improving sleep, and quality of life for users.

For more information about the funding recipients, see the attached backgrounder.

Today’s announcement further demonstrates the Government of Canada’s commitment to boost regional prosperity by supporting entrepreneurs and innovation in Atlantic Canada’s bioscience sector.

“Strategic investments in Atlantic Canada’s bioscience sector are helping local companies bring innovative ideas from the lab to the marketplace. These advancements are creating well-paying jobs and made-in-Halifax solutions to improve the health and wellbeing of people around the world.” – Ginette Petitpas Taylor, Minister of Official Languages andMinister responsible for ACOA

Picture courtesy: https://agadabio.com/