Toronto, ON; September 10, 2014 – Proteocyte Diagnostics Inc., a company with a unique test for early identification of oral cancers, today announced an investment by Freycinet Investments, made possible by MaRS’ SVX (Social Venture Connexion) impact investing platform.
“We were pleased to see results so quickly with our participation in the SVX platform that connected us with Freycinet Investments during last March,” said Dr. Mario Thomas, Chief Commercialization Officer of Proteocyte Diagnostics. “Proteocyte is an excellent fit for Freycinet’s investment strategy and values. They see both the opportunity for financial return and social impact of Straticyte, a groundbreaking diagnostic test for early identification of oral cancers that will save lives, increase quality of life, reduce healthcare costs and deliver a strong financial return.”
Proteocyte Diagnostics is a Canadian molecular diagnostics company that has developed a novel diagnostics test, Straticyte™ that objectively and accurately detects precancerous oral lesions at high risk of becoming cancerous. Straticyte is the first and only molecular diagnostic test for oral precancerous lesions that provides an objective and accurate prediction score as evidenced by retrospective clinical studies. Proteocyte Diagnostics joined MaRS’ SVX in mid July 2014 after being designated as an innovative company with a clear triple bottom line meeting robust social and financial standards.
James Appleyard, President of Freycinet Investments noted that “Companies such as Proteocyte which are commercializing best-of-breed medical innovations represent one of the best possible opportunities for breakthroughs that will improve human welfare. These innovations have the potential to save lives and reduce suffering, while also creating opportunities that will generate superior investment returns. We hope that innovations such as the SVX platform will continue to connect promising entrepreneurs with suitable investors.’’
“As an innovative healthcare company focused on preventing cancer, Proteocyte has a clear triple bottom line that was able to meet our robust social and financial standards,” said Adam Spence, Associate Director, MaRS Centre for Impact Investing and Founder, SVX. “We’re excited that this potentially life-saving innovation has chosen to use our platform.”
SVX, launched in September 2013, connects socially conscious accredited investors with ventures providing social or environmental impact, along with a demonstrated capacity for financial return. The platform allows investors to identify screened investment opportunities, reducing the time and cost burden of due diligence, and provides ventures and funds with increased access to capital and financial expertise at low cost. There are currently 20 issuers on the SVX platform; together, they have raised over $3 million in financing since September 2013.
Proteocyte Diagnostics Inc. is a Canadian molecular diagnostics company that develops and commercializes a novel diagnostics technology, Straticyte™ that offers objective and accurate early diagnosis of precancers and cancers. The company’s first product objectively and accurately distinguishes between those precancerous oral lesions at high risk of becoming cancerous and those that pose low risk. Early diagnosis of high risk lesions permits more effective and less traumatizing treatments. By identifying and treating oral cancer before it happens, clinicians can save lives, healthcare costs are reduced and quality of life of patients is improved. Identifying more accurately low risk pre-cancerous lesions avoids unnecessary surgeries and allows clinicians to monitor patients regularly for peace of mind.
About Freycinet Investments
Freycinet Investments Ltd. supports high-potential, knowledge-based businesses primarily in the Waterloo-Toronto-Montreal corridor. Their focus is primarily on early-stage companies focusing on food, water and health technologies harnessing technology for good. Freycinet is a signatory of the United Nations Principals For Responsible Investment, an international network of like-minded investors.
SVX is a local, impact first platform connecting impact ventures, funds, and investors in order to catalyze new debt and equity investment capital for local ventures that have demonstrable social and/or environmental impact, including nonprofits, co-operatives, and for-profit corporations. The SVX allows investors to identify screened investment opportunities reducing their burden of due diligence and it provides ventures and funds with increased access to capital and financial expertise at low cost. SVX is registered as a Restricted Dealer with the Ontario Securities Commission (OSC). SVX adheres to all relevant and applicable securities legislation as prescribed by the OSC. For more information about SVX, please visit: https://www.svx.ca.
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is one of the world’s largest urban innovation hubs. MaRS cultivates high-impact ventures and equips innovators to drive economic and societal prosperity. MaRS provides expert advice and market research, and makes connections to talent, customers and capital. MaRS startup clients have created 6,500 jobs and, in the last three years alone, they have raised $1 billion in capital and generated $500 million in revenue.