Montreal, October 10, 2016 – Desjardins – Innovatech, through the CTS program, recently invested $ 250,000 in Ananda and its patented “lab-on-a-chip” technology. It meets the needs of the market for biomedical research and diagnosis by increasing the standardization, accuracy and reproducibility of biological tests. Currently, Ananda offers patented microdevices for cellular analysis in neurosciences, immunology, microbiology and cancer research.
“Montreal has all the keys to be a leader in medical innovation,” said Dr Margaret Magdesian, CEO and founder of ANANDA. We have one of the largest student populations in North America and one of the best medical schools in the world. As a scientific entrepreneur and founder of a medical start-up, I am pleased to count on CTS. Expertise and dedication were essential to complete our first round of funding and solidify our partnerships. ”
“The CTS and Desjardins – Innovatech are proud to contribute to the development of Ananda, which is innovating in a complex medical sector,” added Guillaume Hervé, Chairman of CTS. The means required are necessary to ensure that the long-term growth is successful. ”
Ananda’s expansion is due to the contractor team made of Dr Margaret Magdesian, Dr Pieter Roos (Director of Operations) and Victoria Mallett (Product Manager). It is through their knowledge of life science markets that they have developed the LS Device. This disposable silicone device allows the cultivation of cells in the life sciences market. The device has been validated in the fields of neuroscience, immunology, microbiology and cancer research.
Innovatech, through the CTS program, has given Ananda the opportunity to take the next step in developing the company’s international dimension. Thanks to the investment made, an additional sales force can be set up. Thus, a marketing and market conquest dynamic will be developed for Canada, the United States and Brazil for the LS Device.
ANANDA’s mission is to accelerate the transition from major scientific advances to new diagnostic and therapeutic tools. Drug development is based on cell culture models that have not changed over the past 100 years. The company brings the cell culture models to the next level by applying micro and nanotechnologies to develop microfluidic platforms.
CTS is an accelerator of companies in the field of medical technologies which offers them to develop faster and increases their chances of success. The goal of the CTS is to offer start-up companies a unique proposition with structured framework that allows them to focus on developing their technology, reaching market dynamics and gaining the visibility they need to start and develop internationally.
About Desjardins – Innovatech
Created in 2005, the Desjardins – Innovatech fund was created by the initiative of the Government of Québec and Capital régional et coopératif Desjardins. With more than $ 55 million invested in nearly 40 companies and funds, Desjardins – Innovatech’s main mission is to promote and support companies from Quebec, who involved in the development of technological innovation or Industrialists and the new generation of Quebec innovation entrepreneurs, with their capital financing. In order to fulfill its mission, the fund joins forces with other players in the technological field – specialized investment funds, entrepreneurs, financial angels, technological company’s accelerators – contributing to increase PME in terms of job creation and economic development.
For additional information (journalists only)
CEO and founder
CTS Romain Lortille Bruel
Director of Business Development
514-274-1001 or 514-808-9775
Desjardins – Innovatech
418-835-8444 or 1-866-835-8444, ext. 556 3163