OBIO’s CAAP reaches US$704.7M milestone as 6 health tech firms join the 2026 Toronto cohort

CANADA—The Ontario Bioscience Innovation Organisation (OBIO) has announced that companies supported by its Capital Access Advisory Program (CAAP) have raised more than C$1 billion (US$ 704.7 million) in capital, as the organisation announced its 2026 cohort in Toronto.

The programme helps post-seed health science companies prepare for financing, build commercial partnerships, and advance their technologies towards market adoption.

The Government of Canada supports the initiative through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

CAAP focuses on companies developing therapeutics, medical devices, diagnostics, and digital health technologies, with participating businesses typically preparing to raise a post-seed financing round within 12 to 18 months.

Six companies join 2026 cohort

OBIO has selected six companies for the 2026 intake, spanning artificial intelligence, biotechnology, diagnostics, medical devices, and therapeutics.

Toronto-based AI. Vali develops artificial intelligence tools for real-time medical image analysis, with applications in diagnostic accuracy, clinical workflows, electronic medical records, reporting, and reimbursement.

Hamilton-based Block Biosciences is developing a precision medicine approach designed to prevent metastatic cancer from reaching the brain.

Meanwhile, Ottawa-based Hylid Diagnostics is developing optical sensor technology intended to bring blood testing into the home for people living with chronic kidney disease and heart failure.

The remaining three participants are based in Toronto.

Orb Therapeutics is developing RNA-based therapies to increase protein expression for diseases associated with protein deficiencies.

Pre-clinical biotechnology company Synakis is developing biomaterial-based treatments for ocular conditions, including retinal detachment and glaucoma.

Thornhill Medical developed RespirAct, a computer-controlled gas delivery system that enables clinicians to assess vascular reactivity and the brain’s response to physiological stress.

Focus on financing and commercialisation

The six companies will receive strategic planning, fundraising support, business development guidance, and introductions to venture investors, healthcare executives, and potential strategic partners.

The programme focuses on business planning, fundraising, and efforts to secure investment or commercial partnerships.

They will also have an opportunity to present their technologies at the OBIO Investment Summit in Toronto from February 2 to 4, 2027.

Companies that have presented at the annual summit since 2018 have collectively raised more than C$3.1 billion (US$2.1 billion) in capital.

Dr Maura Campbell, president and CEO of OBIO, said the C$1bn milestone reflects the financing activity generated by companies that have participated in the programme.

She added that CAAP combines coaching, commercial planning, and investor access to help companies progress through the financing and commercialisation stages.

According to OBIO, 127 health science companies have graduated from CAAP, with 65% securing capital or a strategic partnership within 18 months of completing the programme.

Founded in 2009, OBIO is a not-for-profit, membership-based organisation supporting Canadian companies in therapeutics, medical technology, diagnostics, and digital health.

Its programmes address financing, commercialisation, workforce development, and market adoption as companies move from early development towards broader healthcare use.

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