Government of Canada invests in MEDTEQ+ to fund groundbreaking technologies that will benefit Canada's seniors and their families – Yahoo Finance
This investment will support Canadian companies in developing, commercializing and launching new technologies
QUÉBEC, QC, Dec. 7, 2022 /CNW Telbec/ – The Government of Canada is committed to investing in companies that develop groundbreaking technologies and innovative solutions that benefit Canadians, especially seniors, and enable them to take care of their health as well as maintain their independence and lifestyle.
Today, the Honourable Jean-Yves Duclos, Minister of Health, on behalf of the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced an investment of $47 million through the Strategic Innovation Fund to support MEDTEQ+’s $154 million envisAGE Network, established with network co-lead AGE-WELL (a national network that develops technology and services for healthy aging). This contribution will bring together industry, health experts and investors to launch up to 100 projects to scale up and commercialize technologies, developed by small and medium-sized enterprises (SME), that are ready for national and global market adoption.
The Canadian population aged 65 and older is expected to double between 2009 and 2036. MEDTEQ+, in partnership with AGE-WELL, will collaborate in advancing Canada’s AgeTech ecosystem by developing, validating and demonstrating technologies to help seniors and their caregivers succeed when facing challenges related to aging in place. Technological innovations include digital health technologies and artificial intelligence enabling remote patient monitoring, data analysis and connections to health care providers through telehealth and virtual medicine.
MEDTEQ+’s and AGE-WELL’s goal is to accelerate the innovation of Canadian medical technologies and promote the creation and development of new technologies. Through the envisAGE Network, MEDTEQ+’s and AGE-WELL’s priorities will be to fund projects focusing on seniors’ autonomy, cognitive health, healthy lifestyle and connectivity. envisAGE aims to create 500 new jobs, support SMEs and secure new investments in companies in this field.
Quotes
“Today’s investment will help lead to the creation of new Canadian technologies that will bring significant benefits to our seniors and their families. These technologies will offer seniors the tools they need to take care of their health and maintain their independence and lifestyle later in life. Through this investment, MEDTEQ+, in partnership with AGE-WELL, will bring together investors, companies and other experts to help reduce health care costs, while also allowing Canadians to stay where they are most comfortable—at home.”
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
“Canadians want to age closer to home and family. To do so, they should have access to the safe, quality health care they need and deserve. Initiatives such as MEDTEQ+ that use technology will not only help Canadians age at home but they will also improve health care services for our aging populations through health data and digital health.”
– The Honourable Jean-Yves Duclos, Minister of Health
“The Government of Canada is committed to supporting seniors who wish to age in place for as long as they can while receiving the care they need. Our investment in MEDTEQ+ will support new projects and technologies that will directly help seniors and their caregivers to work through the challenges of aging-in-place. Seniors deserve to live in dignity and this investment aligns with our efforts to give seniors the care they deserve while aging at home.”
– The Honourable Kamal Khera, Minister of Seniors
“MEDTEQ+ is proud to lead this audacious initiative that will mobilize our strong technological, social and entrepreneurial pool of talents to address the challenge of aging in Canada and around the world. We understand the relevance and pressing need to support the adoption of high-impact solutions in improving the quality of life of older adults through the innovations of 100 SMEs bound for international markets. Together with AGE-WELL, our vision for the envisAGE Network is to help transform our way of aging and become a source of economic and social benefits of international significance.”
– Diane Côté, Chief Executive Officer, MEDTEQ+
“AGE-WELL is pleased to be co-leading the envisAGE Network with MEDTEQ+. This initiative will help Canadian companies grow, scale their enterprises and get their products more quickly into people’s hands. The investment announced today will advance Canada’s AgeTech innovation ecosystem by supporting the commercialization and adoption of technologies. AGE-WELL will continue to advocate for support for cutting-edge research that feeds the innovation pipeline, ensuring that this AgeTech ecosystem will thrive for years to come.”
– Dr. Alex Mihailidis, Scientific Director and Chief Executive Officer, AGE-WELL
Quick facts
MEDTEQ+ is a not-for-profit organization located in Montréal, Quebec, and was established in 2010 with the mandate to accelerate the development of innovative Canadian health care technologies.
AGE-WELL is a not-for-profit pan-Canadian network dedicated to the development and delivery of technologies, services, policies and practices that benefit older adults and caregivers.
The envisAGE Network will create a national aging innovation ecosystem to improve Canada’s competitiveness and support industry partners as they commercialize new technologies supporting the aging population and its caregivers.
The envisAGE Network already receives financial support from over 90 organizations across six provinces pledging $85 million, and it will increase its membership to more than 400 organizations over the next six years.
Associated links
MEDTEQ+
AGE-WELL
Strategic Innovation Fund
Stay connected
Find more services and information at Canada.ca/ISED.
Follow Innovation, Science and Economic Development Canada on social media.
Twitter: @ISED_CA, Facebook: Canadian Innovation, Instagram: @cdninnovation and LinkedIn
SOURCE Innovation, Science and Economic Development Canada
View original content: http://www.newswire.ca/en/releases/archive/December2022/07/c0043.html
Pharvaris NV (NASDAQ: PHVS) announced topline data from the RAPIDe-1 Phase 2 study, demonstrating statistically significant results of PHVS416 as an oral on-demand treatment for hereditary angioedema (HAE) attacks. The study's primary endpoint is the change of a three-symptom composite (skin pain, skin swelling, abdominal pain) visual analog scale (VAS-3) score from pre-treatment to four hours post-treatment. Topline data from 147 attacks collected by 62 patients show that dose levels of PHVS416
Shares of BioVie (NASDAQ: BIVI) were soaring 23.6% higher as of 11:19 a.m. ET on Thursday. The big jump appears to be the result of a delayed positive reaction by investors after the drugmaker reported results earlier this week from a phase 2 study evaluating experimental therapy NE3107. On Tuesday, BioVie's share price tumbled after the company's Monday evening announcement of results from its phase 2 study of NE3107 in treating Alzheimer's disease and Parkinson's disease.
Amgen is years behind rivals in developing an obesity treatment, but the company says its experimental drug could prove superior.
The clinical-stage biotech that specializes in IBD therapies announced positive news regarding two trials for its lead therapy.
The top five biotech stocks today have several commonalities: strong ratings. Some also show promising charts and are Tech Leaders.
Shares of Mirati Therapeutics (NASDAQ: MRTX) slumped more than 28% on Wednesday. On Monday, the company released early phase 2 data on Adagrasib to treat non-small cell lung cancer (NSCLC), along with Keytruda, which is sold by Merck (NYSE: MRK). On Wednesday, Mirati presented the data from its Krystal 7 and Krystal 1 trials with Adagrasib, at the 2022 ESMO Immuno-Oncology Annual Congress.
Under the decision, certain children 6 months through 5 years can get the updated boosters, which target two Omicron offshoots as well as the original strain of the coronavirus.
Veru Inc. (NASDAQ:VERU) Q4 2022 Earnings Call Transcript December 5, 2022 Veru Inc. misses on earnings expectations. Reported EPS is $-0.51 EPS, expectations were $-0.3. Operator: Good morning ladies and gentlemen, and welcome to Veru Inc.’s Investor Conference Call. All participants will be in listen-only mode. After this morning’s discussion, there will be an opportunity […]
Is Pfizer stock a buy after the FDA gives it a speedy review for an older adult RSV vaccine? Is PFE stock a buy right now?
Prometheus Bio reported promising results from two inflammatory disease studies on Wednesday, and RXDX stock catapulted higher.
Mirati Therapeutics' (MRTX) preliminary data from the first-line NSCLC study showed that adagrasib plus Merck's Keytruda achieved an objective response rate of 49%.
AstraZeneca Plc (NASDAQ: AZN) announced detailed results from the SERENA-2 Phase 2 trial of camizestrant in pretreated post-menopausal patients with estrogen receptor (ER)-positive locally advanced or metastatic breast cancer. The data showed that camizestrant demonstrated a statistically significant and clinically meaningful improvement in progression-free survival (PFS) at 75mg and 150mg dose levels versus Faslodex (fulvestrant) 500mg in patients previously treated with endocrine therapy. In t
A U.S. district court dismisses thousands of lawsuits involving Zantac. Relief for GSK (GSK), Sanofi (SNY) and Pfizer (PFE).
Peanut butter can help you build muscle, lose weight, and improve your health—but you have to know which kind to buy. Dietitians explain.
China has acknowledged low vaccinations rates for the elderly and is seeking to boost them.
People on TikTok have claimed that drinking coffee on an empty stomach is causing painful periods, acne, hair loss, and exhaustion. So we spoke to a doctor who rebuffed many of these claims.View Entire Post ›
Actress Kirstie Alley died of colon cancer. Dr. Bidhan Das, a Colorectal surgeon with UTHealth Houston and UT Physicians, discusses the symptoms of colon cancer and why is it on the rise among younger patients.
Singer shared news in tearful Instagram video
Masimo's (MASI) full-market release of the Hi for the Masimo W1 watch is likely to significantly improve RPM.
Photo Illustration by Luis G. Rendon/The Daily Beast/Getty ImagesTaylor Dayne remembers meeting Kirstie Alley about 25 years ago at a Super Bowl party in Florida and the pair becoming instant friends.“She was just so funny, exuberant, full of life. She was like, ‘Come back to my house.’ I think we were in Tampa. I really loved that woman,” the musician told The Daily Beast. “She was a truly lovely, beautiful human being who brought a lot of joy and a lot of fun and a lot of happiness and was ver