Toronto, ON: November 27, 2014 – Proteocyte Diagnostics Inc., a company with a unique test for early identification of oral cancers, today announced investments made by members of the Golden Triangle Angel Network (GTAN) including the Laurier Startup Fund. GTAN members join the current group of shareholders focused on accelerating the market introduction of Straticyte™ for early and more objective detection of high risk oral precancerous lesions.
GTAN is a members-only organization of accredited investors seeking investment opportunities in promising, early-stage businesses. In addition to financial support, GTAN members provide dynamic early-stage companies with valuable mentorship and access to capital networks.
Eric Klimstra, member of GTAN and one of the investors in Proteocyte Diagnostics commented, “Proteocyte is empowering oral pathologists and oral surgeons with a tool that will improve quality of care for their patients and help to improve outcomes for those with head and neck cancers. With a strong patent portfolio, and excellent management team, Proteocyte is well-positioned to change the face of diagnostics. GTAN is excited to be a part of this mission.”
The Laurier Startup Fund combines the learning experience of real-money early-stage investing along with the academic rigour of a senior-level university course. The Fund began operations in early 2014 and Proteocyte is its second investment.
“Proteocyte passed through extensive due diligence by our student analysts, Adam Sinukoff and Jeffrey Benson, and scrutiny from our Investment Committee members, David Ceolin, Frank Erschen and Michael Stork. The company’s compelling technology to improve the diagnosis of oral cancer, its clear channels to market and its capable management team impressed all of us. The Laurier Startup Fund is delighted to be an investor in Proteocyte Diagnostics,” said Brian Smith, BMO Professor of Entrepreneurial Finance, School of Business & Economics, Wilfrid Laurier University.
Proteocyte Diagnostics adds the Laurier Startup Fund and other GTAN investors to the support and confidence of several high profile investors in the past 10 months.
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 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 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.
The Golden Triangle Angelnet is a not-for-profit corporation operating under the Ontario Ministry of Research and Innovation’s Angel Network Program. It is a members-only organization of accredited investors seeking investment opportunities in promising, early-stage businesses. In addition to financial support, GTAN members provide dynamic early-stage companies with valuable mentorship and access to capital networks. It is this priceless assistance that facilitates learning, networking, and growth.
About The Laurier Startup Fund
The Laurier Startup Fund is an immersive learning opportunity for senior-level business students to evaluate and ultimately invest in budding businesses. By working with a strong community of established investors, students at the School of Business & Economics at Wilfrid Laurier University gain valuable hands-on experience as angel investors. The fund is supported by a $1 million donation from Michael and Hennie Stork and a $500,000 donation from the Marsland Family.