Thorasys receives $500k investment from ACOA

We are pleased to announce that THORASYS Thoracic Medical Systems Inc. (THORASYS) has received an investment of $500,000 (Canadian Funds) under the Business Development Program (BDP) from the Atlantic Canada Opportunities Agency (ACOA). The funds will be used to help THORASYS with the final steps required to bring the tremoFlo™ Airwave Oscillometry System (AOS)™ to market in the next twelve months.

Public Announcement

The official announcement took place Wednesday, September 12th, at the Dalhousie University Life Sciences Research Centre located near the Innovacorp offices. Dr. Thomas Schuessler, President and CEO of THORASYS, accepted the award on behalf of the THORASYS team and thanked ACOA and the Government of Canada for their support through the BDP and other programs. The ACOA funding “will be used towards a variety of go-to-market activities, including regulatory approval, marketing activities and launch preparations”, Schuessler said, “as well as to build THORASYS’ distribution network”.
The funding announcement came just days after the European Respiratory Society (ERS) Congress in Vienna, Austria, where the tremoFlo was introduced for the first time on European soil and received an enthusiastic response. Potential distributors, clinicians and global key opinion leaders coming by the THORASYS booth were impressed by the tremoFlo’s form factor, portability, ease of use, and the minimum effort and cooperation required from the patient when compared to Spirometry.

Congratulations to DeNovaMed

We would like to take this opportunity to also congratulate Halifax-based DeNovaMed, who received similar funding for their ground-breaking work towards developing treatments for drug-resistant infectious diseases.
For media coverage of the ACOA announcement, refer to The Chronicle Herald and to the AllNovaScotia.com website (subscribers only). A news release from the Government of Canada is also available on the ACOA site.