Syantra
Location: Calgary, Alberta VC Investor: Accelerate Fund Company URL: syantra.com
Strategic Importance: Healthcare, advanced education
Incredible advancements are being made at Alberta’s universities. With the involvement of Venture Capital expertise and funding, these institutions are reaping the rewards of their efforts, while changing outcomes for patients around the world.
5 International Patents
issued
3 International Patent
applications filed
“Having a headquarters in Calgary enables a priority focus on serving Albertans and Canadians, while readily supporting expansion into other jurisdictions.”
An Advance in Cancer Diagnosis and Treatment
Syantra Inc. is a Calgary-based precision biotechnology company specializing in cancer diagnostics and therapeutics. Syantra’s proprietary Onco-ID blood testing platform uses signals from the body’s immune system to indicate the presence of cancer, and targets the underlying biology as a way to treat disease. It is saving lives, improving outcomes and reducing healthcare costs through earlier detection.
Syantra is a spin-off company from the University of Calgary, and has established an accredited laboratory in the city’s northwest. From this lab, testing can be performed for individuals across Canada and the United States while large scale commercialization is conducted through partners.
Syantra’s journey began when a biomedical discovery platform invented at the University of Calgary provided an opportunity for a breast cancer diagnostic test. Work began with a small feasibility program with funding from the Alberta government. It has grown into a larger program that encompasses commercialization goals, including the formation of a new company.
Funding Innovation
Founded in 2016, Syantra initially raised ‘friends and family’ money, bolstered by grant support. This put them in a position to pursue a major injection of seed capital in partnership with Accelerate III Fund. Syantra continued to raise funds through the early 2020s and has now achieved a commercial-ready technology.
The involvement of the Accelerate Fund (with Alberta Enterprise Corporation (AEC) as a lead investor) has directly benefited Syantra in two ways, according to Bob Shepherd, COO and cofounder.
“Companies need funds to generate the capability to operate and establish products, and pursue growth.
“They also need credibility. The networks and visibility provided by a recognized investment portfolio are crucial to the acquisition of new capital and achieving the advances those funds bring to the business.”
Shepherd credits its VC partner and AEC with attracting investment that may have otherwise required going outside the province.
“Without this assistance, we may have had a much more difficult journey to get to where we are today.”
