FedDev Ontario supports machine vision image-guided technology to improve surgical outcomes and patient safety
$1.8 million to help medical device company expand and grow into export markets
April 26, 2019 — Toronto, Ontario
Today, Yasmin Ratansi, Member of Parliament for Don Valley East, announced a FedDev Ontario contribution of $1.8 million for 7D Surgical Inc. to accelerate commercialization of its cutting-edge machine vision surgical navigation technology used during spinal and cranial procedures. This announcement was made on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario.
7D Surgical Inc. has designed and developed the first and only Machine-Vision Image Guided Surgery (MvIGS) platform—the 7D Surgical System. With the use of sophisticated camera technology and advanced software algorithms, this 3D imaging system allows surgeons to navigate the spine and brain faster and with greater accuracy, which reduces operative times for patients. Additionally, the system only uses light during the procedure, eliminating exposure to harmful radiation for surgeons, hospital staff and patients.
This project will enable the company to launch new tools and features providing even more functionality to surgeons. In addition, 7D Surgical Inc. will create at least four full-time, high-quality jobs in Toronto and will tap into new export markets.
Today’s announcement aligns with the Government of Canada's Economic Strategy Table on Health and Biosciences, a commitment to grow health and biosciences firms to support a more sustainable health system for Canadians, while advancing Canada's economic prosperity.
“The Government of Canada is demonstrating support for leading-edge companies, like 7D Surgical Inc., that are poised to grow and seize new opportunities in global markets. FedDev Ontario’s support is helping the company to positively transform spinal and cranial surgical procedures, leading to improved health outcomes for Canadians and patients worldwide.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Through FedDev Ontario, our Government is proud to support 7D Surgical Inc., a company working hard to leverage innovative technology that advances the standard of care and improves treatment options for surgical patients. This is great news for Toronto, as it will help to create good-paying jobs and strengthen the life sciences sector in this region.”
- Yasmin Ratansi, Member of Parliament for Don Valley East
“7D Surgical was developed in an academic setting with strong support from the federal government. This support has been leveraged multiple times over with private investment to allow 7D Surgical to grow and become a dominant player in intraoperative imaging. With this significant FedDev Ontario support, our team can now enter the global stage and prove that southern Ontario is a market leader in medical device innovation.”
- Beau Standish, Chief Executive Officer, 7D Surgical Inc.
The 7D Surgical System™ is FDA 510(k)-cleared and Health Canada approved, and is currently sold in Canada, the United States, Australia and New Zealand.
FedDev Ontario’s repayable contribution will leverage an additional $4.5 million in other private sector investment.
This investment builds on a previous FedDev Ontario-funded project that allowed 7D Surgical Inc. to execute a Quality Management System for compliance with regulatory bodies in Canada and the United States; convert its prototype into a manufacturing-ready product; and help ensure intellectual property protection on its innovations, while adding 14 new jobs in Toronto.
Nearly 30,000 people in the Toronto region are employed in the life sciences sector, and it contributes more than $2 billion to the local economy.
This year marks 10 years of FedDev Ontario delivering funding and business services to support innovation and growth in southern Ontario. Since inception in 2009, FedDev Ontario has invested almost $2 billion in the region’s economy, with more than 31,000 jobs created and maintained over the past five years.
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