BRIEF—FACIT and University of Toronto launch precision medicine company Cellular Analytics

Canadian venture group FACIT together with the University of Toronto (UofT), announced the creation of Ontario-based Cellular Analytics.

Cellular Analytics is founded upon a proprietary microfluidic platform that enables molecular characterization of cancer at the level of single circulating tumor cells.

The technology quantitatively detects sensitivity to immune-oncology agents 'on-chip' at both significantly lower sample volumes and at a fraction of the cost.

Seed capital from FACIT's Compass Rose Oncology Fund will be used to develop the non-invasive, commercial prototype of the company's lead product.

This critical capital also allows Cellular Analytics to maintain its momentum and continue strategic discussions with potential partners and investors to attract follow-on financing.

The company received an undisclosed seed investment from FACIT's Compass Rose Fund, which invests in Ontario-based breakthrough innovations in oncology.

To strengthen and anchor companies to the province, FACIT provides transition executive management through its Executive-in-Residence (EIR) program.