Proteocyte is a Canadian molecular diagnostics company that has developed a novel diagnostics test, Straticyte, that accurately detects precancerous oral lesions at high risk of becoming cancerous. The company will be providing Straticyte as a commercial diagnostic test service to dental clinics and oral pathology labs.
“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 $1.2 million in financing since September 2013.
“Acceptance into the SVX provides further validation of Proteocyte’s viability to investors looking for projects that affect social change and provide financial returns,” said Dr. Mario Thomas, Proteocyte’s Chief Commercialization Officer. ”By identifying oral cancer before it happens, Straticyte will save lives, increase quality of life and reduce healthcare costs. We’re pleased to join a group of leading ventures providing tangible solutions to key social challenges.”
Source: MaRS Discovery District
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