CABHI Announces $9.5 Million Investment in 30 Companies to Improve Quality of Life for Older People
The Centre for Aging + Brain Health Innovation (CABHI), powered by Baycrest, has announced a significant investment of $9.5 million to support 30 companies. This investment, aligned with Canada’s National Dementia Strategy, aims to enhance the quality of life for older people, particularly those living with dementia.
Investment Overview
Coinciding with Seniors Month in Ontario, CABHI’s investment through its Mentorship, Capital, and Continuation (MC2) Program is designed to mobilize innovation in the aging and brain health sector. According to the Honourable Francois-Philippe Champagne, “CABHI plays a crucial role in the development and commercialization of innovative products and services to improve the lives of older adults.”
Focus on Innovation
CABHI’s MC2 Program targets early-stage healthtech and fintech companies. The program not only provides funding but also offers acceleration services, including access to end-user validation, business and research expertise, and CABHI’s Innovation and Investment Networks. This comprehensive support system helps businesses achieve validation and progress through commercialization, growth, and scaling.
“CABHI’s MC2 is a pioneering program that addresses critical funding gaps early-stage innovators frequently face by providing financial support and acceleration services to promote growth and sustainability.”
Dr. Allison Sekuler, President and Chief Scientist at CABHI
Supporting Dementia Innovations
Several of the companies receiving support are working on projects that align with the National Dementia Strategy, focusing on improving the quality of life for people living with dementia and their caregivers. For the first time, the MC2 Program includes biotechnology companies like QurCan Therapeutics, which are developing treatments for cognitive and age-related disorders.
The Honourable Jill Dunlop, Minister of Colleges and Universities, stated, “CABHI’s investments in innovations for people living with dementia and their caregivers are making a tremendous impact across the board, here in Ontario and around the world.”
CABHI’s Mission and Vision
CABHI’s mission is to drive the development and adoption of transformative aging and brain health innovations. The organization envisions a world where every older person lives a life with purpose, fulfillment, and dignity. CABHI’s programs, including Spark, MC2, and Discover + Adopt (D+A), accelerate best-in-class solutions that improve the lives of older persons, those living with dementia, and their care partners.
Impact and Milestones
“Having now solidified our most recent two funding cohorts, the MC2 Program has directed over $33 million to companies working with older persons to develop solutions that have the potential to reimagine the aging experience,” said James Mayer, Senior Manager of Investments & Venture Services at CABHI.
Bronwyn Bridges, CEO of PragmaClin, one of the CABHI-portfolio companies receiving funding from the $9.5 million investment, expressed gratitude, stating, “This funding has been instrumental in advancing PRIMS, our digital health solution for Parkinson’s Disease management. With this support, we have been able to accelerate the development and prepare for rigorous testing, ensuring that PRIMS meets the highest standards of accuracy and reliability.”
About CABHI
Established in 2015, the Centre for Aging + Brain Health Innovation (CABHI) supports researchers, clinicians, and innovators in developing, validating, scaling, and promoting innovations that improve the lives of older persons, including those impacted by dementia. CABHI is a unique collaboration of healthcare, science, industry, not-for-profit, and government partners. Through its funding programs and tailored acceleration services, CABHI advances transformative aging and brain health innovations across Canada and the world.
CABHI’s latest investment of $9.5 million in 30 companies shows its commitment to improving the lives of older people. By supporting early-stage healthtech and fintech companies, CABHI is fostering innovation that addresses critical needs in the aging and brain health sectors, ensuring a better future for older adults globally.
