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Ontario Centre of Innovation

Life Sciences Innovation Fund

2025 Baylis Ontario Life Sciences Innovator Award

The Ontario Centre of Innovation is proud to have Baylis Medical Technologies sponsor for the second year in a row, the 2025 Baylis Ontario Life Sciences Innovator Award.

The award is designed to recognize a top entrepreneur leading an Ontario based life sciences company that has demonstrated significant impact in the sector.

Vote for your Baylis Ontario Life Sciences Innovator below!

More about the award

Kareem Abdur-Rashid

Co-Founder and Director, Kare Chemical Technologies

Robert Arntfield

Founder and Chief Executive, Deep Breathe

Jessica Chalk

Founder and CEO, Mystoria

Sydney Robinson

CEO and Co-Founder, Vessl Prosthetics

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.

About the Fund

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.

YouTube video

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

Interest Form

Express your interest and see if LSIF is right for your business.

Fund Guidelines

Learn about eligibility, investment criteria, and more.

LSIF logo, OCI logo and Ontario logo stacked
Apiary Therapeutics
logo of Fero
Elephas Care
Gotcare
AbClo
KEEP
KVR Pharmaceuticals
MIMOSA
Noa Therapeutics
Novel Bio
QuThero
Radialis
Realize Medical
Tenomix
Cohesys
HDAX therapeutics
logo of adMare Bioinnovations
logo of CCRM
logo of FACIT
logo of Johnson & Johnson
logo of Ontario Genomics
logo of MaRS
logo of Ontario Brain Institute
logo of Ontario Institute for Cancer Research
logo of TIAP

Contact an Investment Lead

Mandhir Kalia

Investment Lead

mkalia@oc-innovation.ca

Sharon Sukhdeo

Program Manager

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).

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As Co-Founder and Director of Kare Chemical Technologies Inc., a pharmaceutical technology company, Kareem is dedicated to developing and commercializing innovative, sustainable solutions for a range of industrial and therapeutic applications. Kare’s current focus is in developing novel, non-psychoactive pain medicines aimed at addressing the opioid crisis.

Kare has also developed a groundbreaking method that leverages catalysis and citrus by-products (limonene) to synthesize Epidiolex, a leading children’s medicine for epilepsy. This scalable approach offers a compelling alternative to traditional plant-based sourcing, overcoming the limitations and inefficiencies of conventional extraction methods.

As Founder and CEO of Deep Breathe, Rob leads a team using AI to push the boundaries of lung ultrasound. With a background as a Professor of Medicine and experienced Critical Care physician, he’s focused on turning ultrasound expertise into practical tools that improve care at the bedside.

Rob’s work in point-of-care ultrasound is recognized internationally, including co-authoring the textbook Point-of-Care Ultrasound. At Deep Breathe, the team’s goal is simple: to make acute care diagnostics smarter, faster, and more accessible.

Jessica is tackling one of the most urgent and under-addressed issues in reproductive health: lack of access to timely, coordinated, patient-centered support. With myStoria, she’s building the infrastructure patients need to navigate complex fertility and hormonal care—and the tools clinics, insurers, and employers need to support them. Her vision is bold: a healthcare system where patients aren’t left to figure it out alone. 

Already gaining traction across Ontario, myStoria is bridging the gap between medical care and lived experience—delivering real-world insights that improve outcomes, reduce delays, and expand access for those too often left behind.

Sydney is the CEO and co-founder of Vessl! Vessl is empowering folks with leg amputations and limb loss through novel prosthetic solutions.

Together with her co-founder, she has identified a medical market need, developed a patented solution, raised startup capital, and launched a business, in a span of 3 years.

Globally, a leg is amputated every 30 seconds. Unfortunately, amputees can experience poor socket fit; a misfit between their residual leg and prosthetic socket causing chafing. Thus, 16% of amputees abandon their prostheses and are unable to walk. 

Recognizing this market need, Vessl have developed the Kinn Automatic Volume Management System, the first automatic volume management socket that tightens in real time through a shock absorber mechanism and movable panels, improving mobility and comfort for amputees. Automatic adjustments are the key feature that make the Vessl device accessible to individuals with poor dexterity and sensation loss because they don’t need to consciously initiate socket adjustments.

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