FACIT

FACIT is a Canadian venture firm dedicated to advancing oncology innovation by partnering with entrepreneurs to build and scale companies. Established by the Ontario Institute for Cancer Research (OICR), FACIT focuses on commercializing world-class cancer research and technologies to benefit patients and the economy. The firm actively manages a diverse portfolio of Ontario-based oncology assets, including therapeutics, imaging, diagnostics, and technology platforms, spanning all stages of commercialization from proof-of-concept to clinical development. FACIT's investments have attracted over $1.7 billion from global investors in follow-on financing, underscoring its significant impact on the biotech ecosystem.

FACIT's investment strategy centers on identifying and supporting promising oncology breakthroughs emerging from Ontario's innovation ecosystem. By fostering a culture of entrepreneurship and emphasizing the value of commercialization, FACIT assists inventors and researchers in translating their cancer-related innovations into market-ready solutions. The firm's portfolio comprises more than 35 companies advancing oncology therapeutics, medical technologies, diagnostics, and informatics/AI, reflecting its comprehensive approach to the sector.

Through its strategic investments, FACIT has facilitated substantial partnerships, clinical trials, job creation, and leveraged financing for the province. Notable successes include the seed funding of Fusion Pharmaceuticals, which closed a US$25 million Series A financing led by Johnson & Johnson Innovation in 2017, and the support of Turnstone Biologics, which secured an $11.3 million Series A financing round in 2015. These achievements highlight FACIT's commitment to driving innovation and economic growth in Ontario's life sciences sector.