Emergence a KickStart Sponsor for Funding Founders/NACO Atlantic 2019

Invest Atlantic and NACO will jointly present Funding Founders and the NACO Atlantic Summit 2019 in Halifax, September 16th – 18th. This two-track conference will bring together early-stage investors and high potential founders and Emergence is proud to be a KickStart Sponsor.

Founders and entrepreneurs will have the opportunity to learn how to leverage non-dilutive funds, while optimizing dilutive funding to accelerate growth, keeping more equity in hand.

Funders will have the opportunity to explain their role in Atlantic Canada’s financing landscape while showcasing their products and services to startups, founders, entrepreneurs, researchers, mentors, post-secondary students, and other funders & partners.

Emergence Business Development Officer Edward Francis will be attending this premiere Atlantic conference. Please make sure to connect with him.

Check out the full program here.

Posted in Conferences, Events, News

SomaDetect raises USD$2M in Seed Investment and Plans Data Collection Expansion

SomaDetect CEO Bethany Deshpande

Emergence Client SomaDetect, a milk quality and dairy data company, have completed their USD$2M seed funding round with investments from New Brunswick Innovation Foundation (NBIF), the Western New York Impact Investment Fund (WNYIIF), and New York Ventures. The investment follows previous Seed Investments from Cavallo Ventures, Dairy Farmers of America, Builders VC, and iGan Partners.

“We are incredibly excited and honoured to receive this investment from WNYIIF, NBIF, New York Ventures and all of our investors. Our company is growing and advancing thanks to their support, and strong support from the dairy industry,” said Bethany Deshpande, CEO of SomaDetect.

“Their investment will help build and grow our company as we expand to collect thousands of data points from farms in North America. It will help us build algorithms that matter for dairy farmers,” said Deshpande.

Founded in New Brunswick Canada in 2016, SomaDetect has designed and produced an in-line sensor that combined with deep learning algorithm and visualization software it measures critical indicators of quality and health (fat, protein, somatic cell counts, and progesterone) from every cow at every milking.

SomaDetect is working with dairy farmers and industry partners across North America to enhance the sensor technology and build deep learning algorithms to provide dairy farmers with actionable data to help manage their operations, including several aspects of milk quality and herd health.

Read full news release here.

Posted in Clients, News

Halibut PEI receives $1M in funding to boost Innovation and Productivity

Emergence client Halibut PEI in Victoria, PEI, has received $1M through the Atlantic Fisheries Fund. This funding will help them establish a reliable supply chain to support the development of a viable halibut aquaculture industry. The project funding will support research and development into husbandry techniques, a breeding program and shipping methods to improve the supply of 5 gram juveniles for grow-out.

Halibut PEI is one of 15 organizations receiving funding through the Atlantic Fisheries Fund to adopt new technologies and equipment to improve the productivity and sustainability of the aquaculture sector in the province. Backgrounder here.

Halibut PEI (HPEI) is a land-based, closed contained Ocean Wise certified Halibut aquaculture operation located in Victoria, Prince Edward Island, Canada. Our broodstock, egg fertilization, hatchery, nursery and grow-out operations makes us North America’s only fully integrated Halibut company.

Posted in Clients, News | Tagged

Latest Job Postings in the Emergence Community

Here is a summary of the latest career opportunities with Emergence Community clients:

  • Animal Ethics is hiring a Welfare Biology Research and Outreach Coordinator –  click here.
  • Bactana is hiring a Laboratory Technician (Connecticut) and Senior Microbiology Director (PEI) – click here.
  • BioTraceIT is seeking an Engineer: Test and Support – click here.
  • CATC is hiring an Aquaculture Technologies and a Post-Doctoral Scientist – Fish Nutrition (PEI)  – click here.
  • Dosecann currently advertising positions for Financial Analyst, Analytical Scientist III, Extraction Technician, Senior Formulation Scientist, Packaging Technician (PEI)  – click here.
  • FIGR currently advertising positions for Production Workers (multiple positions), Night Packaging Technician and Commercial Cleaner (PEI)  – click here.
  • InfinityImmuno is hiring a Research Associate and Senior Scientist (PEI)  – click here.
  • Island Abbey Foods currently advertising position for HR & Training Manager (PEI) – click here.
  • Noblegen is advertising opportunities for Regulatory Affairs and a Mechanical Engineer (Peterborough, Ontario) – click here.

We welcome our Emergence clients to send us their job postings and we will add them to our next Job Postings article and in Emergence Alerts.

Posted in Careers, Clients

Natural Products Canada launches Proof of Concept Program

Emergence Partner Natural Products Canada’s new Proof of Concept Program (POC Program) addresses a consistent gap within the Canadian natural product ecosystem; funding to validate commercial applications of natural products or technologies.

“Our network has been telling us that proof of concept testing is a real challenge,” says Shelley King, CEO of Natural Products Canada. “They need to validate their products, but it’s difficult to find the funds from either government programs or private capital.”

“The program targets projects that go beyond basic research or early product development,” says King. “We’re looking at things like preliminary animal, field, demonstration or human trials that verify the commercial potential of the technology.”

The POC Program offers up to half of the project costs to a maximum of $100,000. For companies, the funds are repayable based on gross revenues generated by the resulting product or technology. For research institutions, funds are conditionally repayable based on licensing agreements.

“Repayability lets us support the developers through these commercialization hurdles so they can achieve success in the marketplace,” says King. “And when they can pay us back, we will recycle it into the next opportunity so there’s a sustained pot of money for current and future opportunities.”

King thinks the POC Program will be a game-changer for Canadian companies with promising products or technologies.

“Large corporations and investors always emphasize the need for some type of validation that the product does what it’s intended to do. It’s often their first question,” says King. “We think the POC Program is going to make it easier for more Canadian companies to rise to the top of those innovation and investment searches.”

Applications for the POC Program are accepted on an ongoing basis and can be completed online.

The Proof of Concept Program is one of three new Commercialization Programs offered by Natural Products Canada to members of Canada’s Natural Product Innovation Cluster. For more information about the Commercialization Programs, contact Kim Johnstone, Programs Director. For more information about the Cluster, contact Sue Coueslan, VP Communications and Stakeholder Relations.

Posted in News, Programs

Natural Products Canada launches new Executive Talent Program

Emergence Partner Natural Products Canada recently launched a new Executive Talent program to help high potential Canadian SMEs get their innovative natural products to market. An interview is featured on NPC’s site where they spoke to NPC’s new Program Director, Kim Johnstone, about the program, and how companies can get involved. The interview follows:

New NPC – Program Director, Kim Johnstone

Give us the general description of the new Executive Talent program.

It’s pretty simple; we’ll make a repayable contribution of up to $50,000 to help high potential companies add experienced professionals to their team so they can fill a gap in skillset or experience.

The program was created based on talking to hundreds of companies and gathering input from those in the ecosystem who work with innovative companies. Many times the leadership teams can see the targets they have to achieve but don’t have the experience or background to make it happen. That can hand-cuff their ability to hit key milestones for growth or attract strategic partners and investors.

Can you give an example of the type of hire this program is targeting?

We’re looking to support strategic leadership roles; people who can develop and execute on key initiatives like marketing, regulatory, financing or operations. Many other programs support junior level hires, and that is really important. But this program is specific to building solid leadership teams that can set the direction for success, and share the wisdom, experience, culture and networks that a company needs to reach its potential.

You mentioned high potential companies- what does that mean?

For NPC, a high potential company is one with a novel natural product, technology, service and/or market innovation, in a well-defined market, with potential to generate at least $10 to $15M in revenues per year. They don’t need to be reaching that yet, but the market has to exist, and the company has to be able to execute on the plan to reach these revenue targets in a reasonable period of time for their sector.

How does NPC define a natural product?

We look for innovative products, technologies or services that involve naturally-derived solutions. They can be applied to a broad range of sectors; including nutrition and natural health products; functional food and feed additives; bioproducts including biochemicals and bioplastics; water treatment and waste streams; agri-tech and value-added agriculture; biotech and clean tech.

If you look at our investment portfolio, you can see lots of great examples of the variety and range that we’re talking about.

There’s so many things that innovative companies need on their commercialization journey – how can they decide which role to fill?

Most entrepreneurs have a good sense of the key skills and experience they are lacking. And if they don’t, they are probably learning that pretty quickly! The NPC team—especially the Regional Directors and David Gauthier, the VP Investment—spend a lot of time working with promising companies. They have a pretty good way of helping entrepreneurs pinpoint their key challenge and how to tackle it. That’s really the whole reason this program was introduced. The team has seen firsthand that many entrepreneurial teams are missing key experience that can really help a company take off once it’s filled.

If the role is to help fill a gap, is it a full-time, permanent position or a short-term contract?

It’s meant to augment the management team in a meaningful way, not just as a consultant or mentor, but as a real team member that helps the company to grow. So the program supports 50% of the salary for part-time or full-time employment up to 12 months to a maximum of $50,000. That gives both parties time to get to know each other and actually get something done. In our experience, most of the challenges preventing companies from achieving their goals take months or even a year or two to really address.

The Executive may stay on after the initial key milestone is achieved but it’s certainly not mandatory. If they leave, we’d want to see that knowledge transfer has occurred so that the team is left in a strong position.

When a company has established the role they need to fill, how do they proceed?

There is a pretty simple application form to complete. We basically want to know what the company’s potential is, where they are in the commercialization and growth process, the challenge they are trying to overcome by adding the Executive position, and if possible, who they have in mind to fill it. Once we have that, we’ll set up a call with the entrepreneur to review their situation and, if necessary, get a better sense of what they’re looking for in the Executive.

Will you help in finding the Executive?

Yes, if that’s needed. We’re obviously not in the headhunting business but we do have a broad network of corporate executives so we will help where we can.

Let’s talk money. You said it’s repayable? So it’s really more like a loan?

Technically yes. The program covers half (50%) of the Executive’s salary, up to an amount of $50,000, which is repayable without interest for the first 18 months after the program period ends, and then at 5% interest after that. The intent of the program is to help the company ultimately increase revenues, which means they should be able to repay the contribution fairly quickly.

Does the Executive need to be in Canada?

Not necessarily, we want the company to find the best person for the job that can really help the company achieve the key growth milestones.

Kim Johnstone is NPC’s Program Director and is responsible for the overall development and implementation of the Commercialization Programs. If you have questions about the Executive Talent program, please review the application form and contact Kim directly.

Posted in News, Programs

MicroSintesis Announces $16.4M Investment to Fund International Expansion and Material R&D Pipeline

Emergence client MicroSintesis, a life science company focused on developing proprietary microbiome therapies, announced at VetHealth Global 2019 the closure of a $16.4 million minority investment from Toronto-based  Northern Private Capital (NPC), an investment vehicle of CFFI Ventures, a company controlled by John Risley. The funding will be used to scale-up production of the company’s products and build out the company’s research capabilities and platform to deliver a new generation of microbiome products dedicated to improving livestock, companion animal, and human health.

Working in one of the newest areas of research, metabolites being produced by probiotics, MicroSintesis has identified a unique set of signal molecules that are part of the microbiome’s own communication system and responsible for regulating its bacteria population. Using patented formulations of these molecules, the company has been able to shift bacterial populations in the gut from unhealthy to healthy to deliver a new generation of health products for the future.

The Company’s research has been substantiated through 11 published papers, three clinical studies and more than 100 case studies. Over the past few years, it has built an impressive patent portfolio and a suite of proprietary assays for assessing its molecules’ impact. To date, it has a library of over 50 probiotic production strains and has developed a proprietary process optimized for this next generation of postbiotic and probiotic products.

“We are delighted to be partnering with NPC and John,” says Hannah McIver, CEO of MicroSintesis. “With the cost of fighting antibiotic resistance now reaching into the billions, we rapidly need a proven solution directed at preserving antibiotics for the future. By partnering with NPC and a successful entrepreneur like John, we now have the funding and the support to grow our company into a global business. Our current technology is just the beginning of what we believe will be a new era of microbiome products and one where MicroSintesis wants to be a leader.”

In 2018, MicroSintesis launched commercial products for both the companion animal and livestock markets in Canada.  The company’s Ygia brand for cats and dogs is carried in a growing number of veterinary clinics across Canada and its Nuvio brand for pigs and chickens is sold in six provinces across the country. To date, Microsintesis’ products have been used in over 2 million animals.

“We are very excited to partner with Hannah and her team as they deliver products that reduce the use of antibiotics and become leaders in the production of postbiotics for animal and human health,” says Andrew Lapham, CEO of NPC. “This is a very large, global market, and we believe MicroSintesis has a technology platform capable of delivering multiple products in the coming years to capitalize on this significant and sizeable opportunity first in the area of animal health and soon to follow in human health.”

About MicroSintesis – MicroSintesis is a new life sciences company, and one of the only dedicated postbiotic company focused on researching and understanding the microbiome communication system. The company has harnessed metabolites produced by probiotics to stand at the forefront of new bio-technologies that fight antibiotic-resistant bacteria, reduce antibiotic use and support the health, wellness and welfare of animals and humans. To learn more visit www.microsintesis.com.

About Northern Private Capital – Based in Toronto, Northern Private Capital focuses on full and partial control equity investments in North America and the United Kingdom. NPC invests in growth companies with great management and proven, proprietary technology across a range of industries. NPC is currently investing out of Northern Private Capital Fund I Limited Partnership and is an investment vehicle of CFFI Ventures, a company controlled by John Risley.

For further information: Ellyn Winters, Ignition Communications (PR for MicroSintesis), 519-574-2196, ellyn@ignition.ca

Posted in Clients

Deadline for BioNova’s BioInnovation Challenge – Aug. 9th

BioNova’s BioInnovation Challenge (BIC) gives early-stage Health and Life Sciences companies from Atlantic Canada a chance to compete for $25,000 in seed funding and a $30,000 advisory services package to develop their business idea during BioPort 2019 on November 5 & 6 at Pier 21.

Why apply?
In addition to the grand prize and business development training, BIC puts finalists in front of investors, the media and influential people in the industry. The BIC semi-finalists also get pitch training from expert pitch training coach Linda Plano. You can learn more about Linda here.

 

BioNova will be accepting applications until Friday, August 9th, 2019.

Event Date: November 5th and 6th, 2019
Event Location: Pier 21

Anyone interested in participating in BIC can learn more about eligibility and the evaluation criteria by viewing the BioInnovation Challenge Application.

About BioInnovation Challenge
Since it’s inception in 2011 BIC has provided more than $300,000 in grand prize package value to accelerate start-ups, along with providing over 50 companies the opportunity to participate in the program, each receiving significant training to be positioned for business growth.
bioportatlantic.ca/bioinnovation-challenge

Posted in Events, News

Bactana seeking a Senior Microbiology Director

Bactana is a socially impactful company formed as a spin-off from Cornell University and currently part of the PEI Emergence Bioscience program. Bactana has patented the use of a select group of anaerobic bacteria strains that have demonstrated multiple health benefits for companion animals, livestock, and potentially humans. Their lead technology manipulates the microbial ecology of animals to enhance the interaction of an animal’s microbiome with its immune system & metabolism. Bactana is seeking an experienced Senior Microbiology Director with an entrepreneurial spirit to join their research team to support the discovery process and help scale the fermentation and production process as they prepare for product launch. This position will be based in Charlottetown, Prince Edward Island. Link to job posting here.

www.bactana.com

Posted in Careers, Clients

Advanced Extraction Systems Nears Completion on a State of the Art Innovation Center

Emergence Client Advanced Extraction Systems will soon have a new manufacturing, R&D and testing facility.

David Campbell, Co-Founder and COO of AESI states, “In order to meet increasing production demand, we are pleased to announce that our new state of the art production facility will be completed in the coming months.  The new manufacturing, R&D, and testing facility will allow for increased vertical integration ensuring the highest level of quality that’s expected from an industry leader.” AESI has seen great success in the global hemp and cannabis industries. “This expansion will take us to the next level as we continue to separate ourselves from the competition. The response has been immense on our newest system in the AESI lineup, the 4 x 1000L, and our new production facility will carry us through the next phase of expansion” states David Campbell. Mr. Campbell continues, “AESI continues to be a trailblazer in the industry with projected growth that has attracted international investors expecting to capitalize on the future success of the company”.

Recently AESI made headlines after releasing production capacities for their newest system, the Largest CO2 Supercritical Fluid Extraction System for the Global Hemp & Cannabis Industries. “It’s an exciting time in this emerging industry and our new state of the art facility is just the next step to ensure we maintain our position as an industry leader”.

Advanced Extraction Systems Inc. designs, engineers and fabricates supercritical fluid CO2extraction systems with a specific focus in the medical/recreational marijuana and hemp industries. AESI has assembled a skilled management team and a world-class scientific advisory group with over 75 years of experience in supercritical fluid design and processes.  AESI offers the cleanest, most advanced CO2 extraction processes that are leading edge due to the companies ongoing internal focus on research and development.  AESI CO2 extraction systems are unique in design, efficiency, and ease of operation. Specifically, AESI systems can be differentiated from the competition in 6 key technical areas; better pump reliability, superior flow rates, superior fractionation, more phase management control, cGMP recipe development, and scalability for future growth.

SOURCE Advanced Extraction Systems

Posted in Clients