1. Its unique design makes the analyzer significantly less expensive than other similar devices.
2. Proprietary technology enables test results that are faster and demonstrably more accurate than existing standards.
3. The device enables the potential to run not only one but multiple diagnostics simultaneously.
"To the best of our knowledge, this is at least the second largest healthcare angel investment in Canada's history and it might well be the largest by the time the project reaches full maturity," said Adrian Schauer of Maple Leaf Angels. "The diagnostic potential of this device can hardly be overstated. We are investing heavily in its commercialization because we see the potential to revolutionize bedside testing for many conditions, from HIV and malaria in the developing world, to sepsis, heart disease and cancers here at home.
With an anchor investment, Grand Challenges Canada is fulfilling its unique mandate to identify and support innovative Canadian technologies that can make a dramatic difference in global health. The investment also played a critical role in attracting the balance of the required financing from private sector investors.
"Grand Challenges has a mandate to support bold ideas with big impact in global health," said Grand Challenges Canada's Chief Executive Officer, Peter Singer. "With this investment in ChipCare, we're not only supporting a worthy innovation, we're facilitating an innovative approach to financing that leverages investment to bridge the 'valley of death.' If you can save lives while creating companies and jobs well, it just doesn't get any better than that!"
|Contact: Zina Nelku
Grand Challenge Canada