UHN start-up receives funding, appoints CEO

TORONTO – Nanovista Inc., a start-up company co-founded by Drs. David Jaffray, Jinzi Zheng, and Christine Allen of University Health Network and the University of Toronto, recently received investments of $1.8M with the help of GreenSky Capital Inc. and its affiliated venture capital funds.

Nanovista is developing nanoparticle-based visualization agents that are designed to improve image-guided cancer therapy, including surgery, radiotherapy and chemotherapy. The nanoparticle system enhances a clinician’s ability to visualize a tumour using different imaging technologies, such as CT.

One advantage to Nanovista’s agents is that the same particles can be used in planning and to guide the actual surgery itself.

The funds raised will be used to complete the final stage of pre-clinical studies and a Phase I clinical trial in individuals with head and neck, or lung cancer.

Nanovista also recently welcomed Steven Chackowicz (pictured) as its new CEO. A serial entrepreneur, he has experience in leadership roles in companies that include Exact Imaging, Aspect Imaging and VisualSonics.

Michael List, principal at GreenSky Capital added, “The Nanovista team has developed a best-in-class technology; adding a CEO with Steven’s experience makes this a compelling investment and an exciting addition to our portfolio.” Full disclosure: UHN has an ownership stake in Nanovista.