Calgary, Alberta – Today, Alberta-based precision healthcare company Syantra Inc. announced it has completed a $6.8M Series A fundraising.
“This is a major milestone for our company,” states Bob Shepherd, President and Chief Executive Officer at Syantra. “Capturing the attention and securing funding from the calibre of investors we are proud to call partners is a testament to our groundbreaking technology that is changing the way cancer is detected and treated.”
Included in Syantra’s Series A fundraising is being the first recipient with Plug and Play Alberta. “We’re keen to build a world-class innovation platform in Alberta to continue attracting top technology and investment to the region and support Albertan entrepreneurs in growing the province into a leading innovation hub,” comments Plug and Play’s Founder and CEO, Saeed Amidi. Headquartered in Silicon Valley, Plug and Play is a global innovation platform that connects start- ups with world-leading corporations and venture capital firms, universities and government agencies across multiple industries. Founding partners in Plug and Play Alberta include Alberta Innovates, Innovate Edmontonand Opportunity Calgary Investment Fund.
“There are a lot of exciting things happening in Alberta, and not only are we watching, but we want to be active participants,” Shepherd states. “Securing Series A funding allows us to progress commercialization,” continues Shepherd. “This includes scaling up our base lab facility in Calgary to be able to increase our capacity to process up to 2.5 times more blood tests by spring, as well as progressing our clinical study work with targeted cancers in our research pipeline.”
“It is fantastic to see Syantra’s success in its Series A fundraising. This is the present and future of Alberta’s tech sector: innovative companies creating solutions for the world. Syantra holds incredible promise for the future of cancer screening, and I am excited to see how this made-in-Alberta technology will change the future of cancer diagnosis and long-term outcomes,” stated Honourable Minister of Jobs, Economy, and Innovation Doug Schweitzer.
The financing was led by a consortium group of doctors in Canada through Rejuvenation Health which sees the test as an excellent element of its offering to women through its concierge medicine practice. In conjunction with the financing, Dr. Paul Kuzel will join the company’s Board of Directors. “We’re excited about the prospects of Syantra changing the standard of care for women in the battle against breast cancer, and I am personally excited about the opportunity to directly help guide the company’s growth,” commented Dr. Kuzel.
“Our technology will save lives, and to be recognized and supported by investors who share a vision to build a world-class technology that initially makes a major difference in women’s health and ultimately for all is extremely gratifying,” states Shepherd.
Other funders in Syantra to date include Thin Air Labs, Accelerate Fund III, The51 Ventures, Innovate Calgary’s UTI Limited Partnership, and Dubai-based Mena Moonshots.
