Ontario Bioscience Innovation Organization Commends OHIC on Innovation Adoption Report

Toronto, Ontario, December 19, 2014 – Today, Ontario Bioscience Innovation Organization (OBIO®) released a statement commending the Government and the Ontario Health Innovation Council (OHIC) for their work to improve health innovation adoption in the province.

“OBIO congratulates OHIC on their work of the past year and is pleased to support the recommendations in their final report” said Gail Garland, Chief Executive Officer of OBIO. “Addressing the issues of value based procurement and adopting and disseminating innovative health technologies throughout the province has the potential to improve patient outcomes and control costs. When industry is a partner in health innovation discussions, there is further potential to contribute to economic growth.”

Innovation adoption has been a key initiative for OBIO. During 2013 OBIO successfully built a healthcare industry coalition, consulted with Industry and government and prepared an economic analysis of innovative technologies that have been adopted in other parts of the world but were delayed or failed completely to gain access to the Ontario healthcare system. The outcome is contained in OBIO’s 2013 report “Realizing the Promise of Healthcare Innovation in Ontario” Recently, OBIO has been working on a common transparent definition of value for use in technology research and reviews.

OBIO’s other two lead programs are achieving measurable outcomes for Ontario human health technology and bioscience companies. The OBIO Capital Access Advisory Program (CAAP™) helps Ontario companies become “investment ready” and introduces them to a network of local and global investors while OBIO’s interconnectivity programs build sector expertise and solutions through leadership events, training and the MPP, multi-party life sciences caucus.

About OBIO® The Ontario Bioscience Innovation Organization (OBIO®) is a not-for-profit, membership-based organization engaged in the development of an integrated health innovation economy for Ontario that will become a leader in providing health technology to the international marketplace. OBIO advances this goal through advocacy, promotion and strategic leadership and via collaborative partnerships with industry, academia, patients and government.

OBIO Contact Gail Garland President and Chief Executive Officer gailgarland@obio.ca 416-673-6619

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Ontario Bioscience Innovation Organization Celebrates Fifth Anniversary

PRESS RELEASE Planning, Broad Stakeholder Engagement, High-Impact Programs, and Commitment to Results Characterize OBIO’s Commitment to Building Ontario’s Bio-Economy

Toronto, Ontario, November 5, 2014 – Today, Ontario Bioscience Innovation Organization (OBIO®) is celebrating five years of thought leadership and advocacy for Ontario’s human health sciences industry at an event hosted by Ryerson University. OBIO will be joined by Reza Moridi, PhD, Minister of Research and Innovation and Minister of Training, Colleges and Universities and Sheldon Levy, President and Vice-Chancellor, Ryerson University.

“Ontario congratulates OBIO on five years of achievements and is pleased to support its Capital Access Advisory Program to help our entrepreneurs connect with global markets. Investing in research excellence and infrastructure is an Ontario government priority. It leads to new discoveries, treatments and technologies that will have a worldwide impact and make us more competitive in the 21st century economy,” said Minister Moridi.

"Ryerson researchers focus on solving real world problems and one of our central themes is health and well being. Our leading edge research in biomedical science and engineering has helped to put us on the map. This, coupled with our passionate commitment to innovation and entrepreneurship, aligns us with OBIO's vision for a globally competitive, commercial, health innovation economy in Ontario," said Sheldon Levy. "We are pleased to welcome OBIO and the CAAP program entrepreneurs here today and congratulate the whole OBIO community on their thought leadership over the last five years."

OBIO’s three lead programs are achieving measurable outcomes for Ontario human health technology and bioscience companies: the OBIO Capital Access Advisory Program (CAAP™) helps Ontario companies become “investment ready” and introduces them to a network of local and global investors; the OBEST Innovation Adoption team is working on economic benefits to the province and the sustainability of our health system through development, adoption and dissemination of innovative technologies; and OBIO is building interconnectivity, sector expertise and policy solutions through leadership events and the MPP, multi-party life sciences caucus.

“OBIO is deeply grateful to the many individuals and organizations who engage, volunteer and sponsor our work,” said Gail Garland, Chief Executive Officer of OBIO. “Their dedication and commitment make it possible for us to operate OBIO’s industry building programs and to pursue breakthrough ideas to help Ontario’s economy and healthcare systems.”

Added Dr. David Young, Chair of the OBIO Board of Directors and CEO, Actium Research Inc., “Five years ago, sixty CEOs of Ontario bioscience companies came together and launched OBIO to address the industry needs created by the 2008 financial crisis. Over 350 people from around the province have committed thousands of hours to the Ontario Bioscience Economic Strategy Team to develop and implement a plan for the industry and identify high impact initiatives. Today we are seeing great results from OBIO and we look forward to working with government and industry to continue to build a robust bioscience industry in the next five years.”

About OBIO® The Ontario Bioscience Innovation Organization (OBIO®) is a not-for-profit, membership-based organization engaged in the development of an integrated health innovation economy for Ontario that will become a leader in providing health technology to the international marketplace. OBIO advances this goal through advocacy, promotion and strategic leadership and via collaborative partnerships with industry, academia, patients and government.

OBIO Contact Gail Garland President and Chief Executive Officer gailgarland@obio.ca 416-673-6619

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Ontario Bioscience Innovation Organization Annual Public Meeting Wraps Up a Successful 2014

PRESS RELEASE Three-Party OBIO® MPP Life Sciences Panel Shares Ideas on Building Ontario’s Bioscience Industry

Toronto, Ontario, December 10, 2014 – Ontario Bioscience Innovation Organization (OBIO®) hosted MPP Indira Naidoo-Harris (Halton), MPP Monte McNaughton (Lambton-Kent Middlesex) and MPP Catherine Fife (Kitchener-Waterloo) at its December 2 Annual Public Meeting as guests on a panel moderated by Jason Markwell, Partner Norton Rose Fulbright. The three MPPs, members of the multi-party OBIO MPP Life Sciences Caucus, spoke to an audience of industry leaders and academics about the importance of building partnerships between the healthcare system and industry so research that will improve health around the globe and reduce health care costs can be developed and commercialized in Ontario. The OBIO MPP Life Sciences Caucus brings industry and government together in a non-partisan environment and provides a chance for education, idea generation, and friendly debate around issues facing the human health bioscience industry.

Also at the Annual Public Meeting, OBIO CEO Gail Garland provided meeting attendees with an update on OBIO’s accomplishments in 2014 and a preview of priorities for 2015. “Feedback from industry tells us how our Capital Access Advisory Program is unique and filling a critical role in developing high-potential companies for financing, while our interconnectivity workshops and executive exchanges are addressing the right questions for senior management,” she said. “OBIO’s 2013 Innovation Adoption report was instrumental in getting the ball rolling on a “pull strategy” for the province to drive successful health technology commercialization, and we continue to engage with government to move the next phase forward. Sharing OBIO’s results with such a large group of attendees is confirmation of our ability to engage the life sciences community and government in a meaningful discussion about policies that support industry and the importance of a robust, fully integrated human health ecosystem.”

“Ontario needs to address rising healthcare costs and implement profound policy reforms that support innovation and enable the growth of Ontario’s life sciences industry,” said Dr. David Young, Chair, OBIO Board of Directors. “We can no longer rely on commodities and an extraction economy to fund our healthcare system and ensure that it is sustainable. Our ability to be globally competitive will require real commitment to a knowledge economy and support for new business. OBIO is engaging with thought leaders to address these challenges and ensure Ontario will take our place as leaders in technology advancement and commercialization. Thank you to OBIO’s sponsors, collaborators and volunteers who support our work financially and with their own time and efforts. This is an exciting time for the growth of our industry.”

About OBIO® The Ontario Bioscience Innovation Organization (OBIO®) is a not-for-profit, membership-based organization engaged in the development of an integrated health innovation economy for Ontario that will become a leader in providing health technology to the international marketplace. OBIO advances this goal through advocacy, promotion and strategic leadership and via collaborative partnerships with industry, academia, patients and government.

OBIO Contact Gail Garland President and Chief Executive Officer gailgarland@obio.ca 416-673-6619

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OBIO Announces a Call to Apply for the OBIO Capital Access Advisory Program

PRESS RELEASE Ontario Bioscience Innovation Organization Announces a Call for Life Sciences Companies to Apply for the OBIO Capital Access Advisory Program

Toronto, Ontario, December 2, 2014 - Ontario Bioscience Innovation Organization (“OBIO®” or “the Organization”), a non-profit organization that is Ontario’s leading advocate for the life sciences sector, is pleased to announce a call for applications for the third cycle of the OBIO Capital Access Advisory Program (CAAPTM). OBIO CAAP is an industry-led program that works to improve access to capital for Ontario bioscience companies. It is a unique program that provides companies with mentoring, strategic guidance and access to the networks from both senior members of the life science venture capital community and senior advisors from industry to prepare companies to seek capital. Through OBIO CAAP, the Organization helps to advance the development and commercialization of medical devices, drugs and other life science technologies that can improve the lives of people in Ontario and around the world.

“Going into the third year, the goal of the OBIO Capital Access Advisory Program continues to be to ensure that Ontario’s human health technology companies can bring their remarkable technologies to market,” said Gail Garland, President and Chief Executive Officer of OBIO. “I would like to thank all of the venture capital investment community members and industry advisors who contributed to the second year of OBIO CAAP. We look forward to continuing and expanding this important initiative in 2015 and beyond, and thank the Government of Ontario for contributing support to this important program.”

“OBIO’s CAAP is unique. CAAP provides Ontario pre-venture companies with benefits that come with venture backing, and builds organizations by bringing mentoring, strategic guidance and networks of senior members of the venture and life sciences communities to earlier stage enterprises. We are proud to see the success of the CAAP Companies raising capital and expanding operations. We have great expectations for the future of this initiative under OBIO’s stewardship,” said Damian Lamb, Managing Director, Genesys Capital and Chair, OBIO CAAP Steering Committee.

Initiated in 2013, the OBIO Capital Access Advisory Program operates downstream from other programs and targets the critical issue of access to capital at the “Series A” to later stages of venture financing. All high-potential bioscience companies based in Ontario that meet the requirements listed below are encouraged to apply.

OBIO CAAP Eligibility

• Companies focused on developing life science products or services including but not limited to therapeutics, medical devices, diagnostics, or healthcare information technologies, and
• Enterprises that have already raised initial capital and are committed raising an additional “Series A” or later round of financing in the next 12 to 18 months.

Information Session and Applications An information session for companies that want to apply to OBIO CAAP will be held on December 11, 2014 at 11 am by teleconference. To register, please email CAAP@OBIO.ca. Additional information on OBIO CAAP can be found here. Applications are available by sending an email to CAAP@OBIO.ca. Applications must be received by January 16, 2015 at 5 pm ET.

About OBIO® The Ontario Bioscience Innovation Organization (OBIO®) is a not-for-profit, membership-based organization engaged in the development of an integrated health innovation economy for Ontario that will become a leader in providing health technology to the international marketplace. OBIO advances this goal through advocacy, promotion and strategic leadership and via collaborative partnerships with industry, academia, patients and government.

Ontario Bioscience Innovation Organization Announces Strategic Priorities for 2014

PRESS RELEASE High-impact programs for Ontario bioscience companies are building a fully integrated health innovation economy

Toronto, Ontario, January 15, 2014 – Ontario Bioscience Innovation Organization (OBIO®), Ontario’s leading advocate for the life science sector, is pleased to announce the next phase in building a health innovation economy and our 2014 high-impact Ontario Bioscience Economic Strategy Team (OBEST®) programs for Ontario’s bioscience companies.

“OBIO owes its many successes in 2013 to the dedication and commitment of our members, sponsors and volunteers,” said Gail Garland, Chief Executive Officer of OBIO. “With their direction, thought leadership and resources, OBIO implemented several industry building programs that we will continue to expand in 2014.”

Our three lead programs achieved measurable impacts for Ontario human health technology and bioscience companies in 2013, and will continue to serve Ontario companies over the coming year.

• The OBIO Capital Access Advisory Program (CAAP™) helps Ontario companies become “investment ready” and introduces them to a network of local and global investors. Applications are now being accepted for an expanded second cycle. All Ontario bioscience companies are encouraged to apply. Additional information is available on the OBIO website here
• In December 2013, the OBEST Innovation Adoption team reported on opportunities to address Ontario’s healthcare innovation and commercialization challenges. The group partners with multiple stakeholders to create cross-disciplinary teams working on the sustainability of our health system through development and adoption of innovation.
• OBIO enhances sector interconnectivity through its Executive Exchange Series (EES) of workshops, webinars and industry events. OBIO’s MPP life sciences caucus includes representatives of all political parties who are interested in Ontario’s bioscience industry and working together towards policy solutions.

OBIO’s OBEST approach is unique due to its industry leadership. Strong partnerships across the sector and focused execution of the OBEST plan have produced results. OBIO is grateful for its collaborations with government and other partners on programs that directly impact Ontario bioscience companies.

Over the coming year, OBIO will continue to implement and renew its strategy for bioscience in Ontario, focusing on initiatives that will promote a fully integrated health innovation economy.

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Ontario Bioscience Innovation Organization Releases Report on Benefits of Adopting Innovative Technology in Healthcare

PRESS RELEASE Realizing the Promise of Healthcare Innovation in Ontario – Increasing Value for the Patient, Health System and Economy

Toronto, Ontario, December 11, 2013 – Ontario’s healthcare system faces the dual challenge of a fiscally unsustainable rise in healthcare costs, currently in excess of $48 billion, and the rise of chronic disease and related co-morbidities. Ontario Bioscience Innovation Organization’s report, “Realizing the Promise of Healthcare Innovation in Ontario”, recommends policy avenues that put innovative technologies to work to address these and other system-wide issues.

The report captures missed opportunities and illustrates the need for a process that addresses adoption of new technologies in order to catalyze commercialization for the therapeutics, medical devices, diagnostics and health information technology sectors while strengthening the province’s capacity to deliver cost-effective care for patients as intelligently and innovatively as practicable. The outcome will be positive change to the economic picture and to the health and prosperity of Ontarians. A full copy of the report is available at www.obio.ca.

“Ontario faces economic and healthcare challenges common to many jurisdictions around the world,” said Robert Hardt, President and CEO, Siemens Canada Limited. “The OBIO report challenges old ways of thinking about innovation adoption and illustrates both the need for and the benefits of joining forward-thinking policymakers in implementing changes that will reduce overall costs improve patient outcomes and stimulate job creation across the public and private healthcare sectors.”

Gail Garland, President and Chief Executive Officer, Ontario Bioscience Innovation Organization said, “OBIO has led a team of amazing and dedicated industry stakeholders, health economists from CLEAR and researchers from Massey College’s Innovation Cell. We are pleased to release a report providing thought leadership on developing a transparent commercial pathway that will allow health technology and bioscience companies to address Ontario’s healthcare challenges. The health and economic benefits from adopting healthcare innovations will accrue to all Ontarians.”

The OBIO Innovation Adoption Steering Committee includes the following leading healthcare companies: Amgen Canada Inc., Eli Lilly Canada Inc., McKesson Canada Inc., Pfizer Canada Inc., and Siemens Canada Ltd. Other leading supporters include Astra Zeneca Canada, Baxter Canada, CML HealthCare, InterMune Canada, Janssen Canada, Medtronic Canada, Merck Canada, Novadaq and Valeant Canada.

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Ontario Bioscience Innovation Organization Announces Election of Arun Menawat, Jim Graziadei and Richard Meadows to its Board of Directors

PRESS RELEASE Toronto, Ontario, December 9, 2013 – Ontario Bioscience Innovation Organization (“OBIO®”), a non-profit organization that is Ontario’s leading advocate for the life science sector, announces the election of three new members to its Board of Directors: Arun Menawat, Jim Graziadei, and Richard Meadows.

“OBIO welcomes three new industry thought leaders to our Board of Directors,” said Dr. David Young, Chair of the OBIO Board of Directors. “We look forward to their contribution to OBIO’s efforts to engage stakeholders in the development of a fully functioning human health technology and bioscience ecosystem for the benefit of Ontarians and people of the world.”

“I look forward to being part of the important work of the Ontario Bioscience Innovation Organization,” said Dr. Arun Menawat, President and Chief Executive Officer of Novadaq Technologies Inc. “OBIO’s impressive team and dedication to enabling the development and commercialization of life science technologies is helping to ensure the continued growth of Ontario’s globally competitive bioscience sector.”

In addition, OBIO is pleased to announce that Jung-Kay Chiu, Partner, Norton Rose Fulbright, will serve as Secretary for the OBIO Board of Directors.

Dr. Arun Menawat is President and Chief Executive Officer of Novadaq Technologies Inc. (NASDAQ: NVDQ, TSX: NDQ) and will serve as Vice-Chair of the OBIO Board. Dr. Menawat has been Novadaq’s President and CEO since April 2003. Previously, he held senior management positions at Cedara Software, Tenneco, Inc. and Hercules, Inc. His educational background includes a Ph.D. in Chemical Engineering from the University of Maryland, College Park, MD, including research in Biomedical Engineering from the National Institute of Health, Bethesda, MD. Dr. Menawat also earned an Executive MBA from the J.L. Kellogg School of Management, Northwestern University in Evanston, IL.

Mr. Jim Graziadei is Senior Vice President of the Siemens Canada Healthcare Sector and will serve as a Director of the OBIO Board. Mr. Graziadei is responsible for the overall strategic direction and management of the Siemens Healthcare business in Canada, including the Imaging & Therapy, Clinical Products and Diagnostics divisions. Providing a full range of integrated services including multi-vendor solutions, asset planning and management, Siemens is a leading healthcare supplier and consultant in the field of image management and networking systems. Mr. Graziadei has more than 20 years of sales, marketing and management experience. Most recently he was General Manager of Siemens Diagnostics in Canada and was responsible for achieving strategic and financial goals by developing a high performance structure and culture. Mr. Graziadei holds a Bachelor of Science in Business Administration from California State University in Sacramento, CA.

Mr. Richard Meadows has been one of two managing partners at CTI Life Sciences Fund. He was formerly a successful investor at Vantage Point Venture Partners and CDP Capital Technology Ventures. Mr. Meadows was on the boards as an early investor in Enobia Pharma, which sold for $1.1 billion to Alexion Pharmaceuticals, and TargeGen which sold in June 2010 to Sanofi for $560 million. Mr. Meadows has extensive experience in operations, general management in biopharmaceuticals, and finance. He has made and managed investments in the cancer, cardiovascular, auto-inflammatory and immunology areas. Mr. Meadows was recently recognized by Forbes as one of the top 10 life science investors in 2013.

Mr. Jung-Kay Chiu practises in all areas of intellectual property law, with a focus on intellectual property acquisition, protection and exploitation in the field of biotechnology and medical devices. Mr. Chiu’s practice includes drafting and prosecuting patent applications, industrial designs and trade-marks, as well as patent licensing and other commercial transactions relating to intellectual property. Mr. Chiu is also routinely involved in preparing patent-related due diligence reports and patentability, infringement and validity opinions. Mr. Chiu joined the Norton Rose Toronto office in 2003 after practising corporate commercial law and intellectual property law with another major law firm in Canada. His technical experience includes conducting post-graduate research in molecular biology at the University of Toronto, and his technical background includes genetics, molecular biology, biotechnology and biochemistry. Mr. Chiu is Toronto Chair of the Norton Rose Intellectual Property Group.

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