Life Sciences Innovation Fund (LSIF)

Life Sciences Innovation Fund (LSIF) is sponsored by Government of Ontario. The Life Sciences Innovation Fund (LSIF) provides direct investment to early-stage Ontario-based companies in human health-related life sciences.

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Join us at DiscoveryX on April 21-22, 2027 @ Enercare Centre, Toronto. Life Sciences Innovation Fund 2026 Baylis Ontario Life Sciences Innovator Award The Ontario Centre of Innovation is proud to have Baylis Medical Technologies sponsor the 2026 Baylis Ontario Life Sciences Innovator Award for the third year in a row.

The award is designed to recognize a top entrepreneur leading an Ontario based life sciences company that has demonstrated significant impact in the sector. Nominations are driven by the greater life sciences community. This is your chance to nominate someone who exemplifies innovation in the life sciences industry.

Voting closes September 14, 2026. President & Founder, WearDOXX Vote for Razieh Salahandish Co-Founder & CMO, Steadiwear Inc. Co-founder & Chief Medical Officer, NodeAI Founder & CEO, Grey Matter Neurosciences CEO, President & Founder, Tenomix Inc. Ontario’s Life Sciences Innovation Fund (LSIF) is an early-stage co-investment fund that supports companies in Life Sciences and Healthcare Technologies sectors related to human health.

The fund is aimed at addressing the unique challenges faced by life sciences entrepreneurs moving innovative and capital-intensive investments from a conceptual stage through to commercialization. Through the fund, OCI co-invests with angel and other investors to help de-risk the opportunity, assisting start-ups in becoming investor and customer ready and allowing them to attract follow-on investment.

Our investments drive Canadian business development, economic growth, and scalable impact across the life sciences and healthcare technologies sectors related to human health. Eligible companies will receive up to $500,000 in early stage risk capital to scale their made-in-Ontario health solution both at home and in global markets.

This will further grow the sector and strengthen its competitiveness in key areas such as cancer treatment, regenerative medicine, neuroscience and medical technologies.

Propelling Ontario-generated IP, talent and expertise into new emerging areas of life sciences Best suited for life sciences and healthcare technologies companies related to human health that: Are Ontario or Canadian incorporated for-profit companies headquartered in Ontario Currently raising a pre-seed or seed investments (total round sizes ranging from $1 million to $5 million) Have raised less than $3 million in third-party capital Express your interest and see if LSIF is right for your business.

Learn about eligibility, investment criteria, and more. Download the Fund Guidelines Director of Commercialization ssukhdeo@oc-innovation. ca For more information contact oci-portforlio@oc-innovation.

ca Note: OCI Ready for Market (R4M) Portfolio companies are not eligible for investment via the Life Sciences Innovation Fund (LSIF). Digital Competence Centre Digitalization is redefining the future for companies. It is a critical factor in the success and growth of Ontario’s companies, enabling them to release products to the market faster and reach the right customers, all while offering a near perfect experience.

Through DCC, Ontario is placing its SMEs at the forefront of digital transformation, supporting them to adapt and thrive from this digital evolution. Collaborate 2 Commercialize Collaborate 2 Commercialize supports the collaboration between Academia and Industry to solve an industry-based problem and drive the commercialization of Intellectual Property.

Ontario Vehicle Innovation Network (OVIN) The Ontario Vehicle Innovation Network (OVIN) builds upon Ontario’s position as a world-leading automotive manufacturing and supply jurisdiction in addition to the large cluster of information and communication technology companies operating in the province.

Life Sciences Innovation Fund The Life Sciences Innovation Fund (LSIF) is an early-stage co-investment fund that supports companies in Life Sciences and Healthcare Technologies sectors related to human health. Saumik (“Show-meek”) Biswas, PhD, is the CEO, President, and Co-Founder of Tenomix, where he is leading the creation of a new class of automated tissue intelligence technologies to transform cancer diagnostics.

Tenomix integrates robotics, imaging, and AI into platform technologies designed to modernize one of the most overlooked but critical parts of cancer care: manual tissue processing workflows in pathology. Dr. Jeffrey Coull is an exceptional entrepreneur who has turned a bold vision for brain health into one of Canada’s most promising neurotechnology companies.

In a remarkably short time, he has led Grey Matter Neurosciences from concept to securing more than $14 million in financing, licensing world-leading focused ultrasound technology from Sunnybrook Research Institute, and preparing for first-in-human clinical studies.

His team’s non-invasive approach has the potential to fundamentally change how Alzheimer’s disease and other neurological conditions are treated by making therapy more accessible beyond the hospital setting. Dr. Coull’s ability to unite world-class science, strong commercial execution, and a clear focus on patient impact makes him an outstanding candidate for this award.

Dr. Waël Hanna is a thoracic surgeon, researcher, entrepreneur and innovator whose more than a decade of lung cancer research has culminated in NodeAI, a McMaster spinout and Hamilton-based medical AI company he co-founded in 2023. He founded NodeAI because he believes every patient, everywhere, deserves the level of care he offers his own patients in Hamilton.

As Co-founder and Chief Medical Officer, Dr. Hanna is pioneering the integration of Artificial Intelligence in lung cancer staging to transform patient outcomes and diagnostic precision. Dr. Hanna’s dual expertise in advanced thoracic surgery and health tech leadership allows him to work at the forefront of medical innovation.

Through NodeAI, he is bridging the gap between traditional surgical excellence and next-generation augmented medical technology. Emile Maamary is the Co-Founder and Chief Marketing Officer of Steadiwear, a company dedicated to restoring independence to those living with Parkinson’s disease and essential tremor.

Inspired by the struggles of his own family members with tremors, Emile made it his mission to create accessible, non-invasive solutions. The company has successfully transformed a deeply personal insight into a globally relevant medical technology that addresses a significant unmet need for individuals living with essential tremor and Parkinson’s disease.

Rather than relying on invasive procedures or pharmaceutical interventions, Steadiwear has pioneered a clinically validated, battery-free wearable medical device that restores independence and improves quality of life through an elegant engineering solution inspired by vibration control systems used in earthquake-resistant structures.

Vote for Razieh Salahandish Dr. Razieh Salahandish is the Founder and CEO of WearDoXX, which has developed a state-of-the-art biosensor that turns sweat into real-time health data. Using advanced AI algorithms, the device can detect small physiological changes linked to early health issues or disease progression, often before a patient notices any symptoms.

By delivering ongoing health data outside of clinic appointments, the biosensor could help primary care physicians and medical teams manage patient health more proactively. Dr. Salahandish is also an Assistant Professor of York’s Lassonde School of Engineering where she also serves as the Director of the Laboratory of Advanced Biotechnologies for Health Assessment (LAB-HA) and oversees 19 funded research projects and 40 students.