New Funding Opportunity: Pilot Fund Now Open

ABOUT US

INOVAIT

INOVAIT is the national image-guided therapy (IGT) and artificial intelligence (AI) network developing and commercializing advanced groundbreaking AI-enhanced IGT technologies . Established in 2020 at Sunnybrook Research Institute, the network invests strategically in collaborative partnerships that build upon Canada’s strength in digital innovation and health science research to create a critical mass of world leading IGT companies.
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Canada is revolutionizing healthcare through innovations and advancements in image-guided therapy and artificial intelligence. INOVAIT supports Canadian IGT companies and academic institutions to go faster and farther to improve patient care and drive economic development in Canada.

OUR NETWORK IN NUMBERS

Members

Projects

Total Project Size (Millions)

Experiential Training Opportunities

Our Mission

Our mission is to connect, educate, and invest in the industry’s brightest minds and most promising ventures in order to improve patient outcomes and fuel economic development in Canada

Our Vision

Our vision is for Canada to be home to a truly integrated image-guided therapy ecosystem, fueling continuous innovation that revolutionizes healthcare globally

OUR HEADQUARTERS

INOVAIT is proud to be hosted by Sunnybrook Research Institute (SRI), the research arm of Sunnybrook Health Sciences Centre — one of Canada’s premier academic health sciences centres fully affiliated with the University of Toronto. SRI is home to the Centre for Research in Image-Guided Therapeutics, which is developing new and better ways to detect, diagnose and treat complex health conditions. In addition, Sunnybrook has been recognized as a Centre of Excellence by the Focused Ultrasound Foundation, the first site in Canada – and one of only seven in the world – to receive this honour.

INOVAIT and Sunnybrook would like to thank the Government of Canada for their generous funding to grow the Canadian IGT sector, fuel better patient care and revitalize healthcare systems around the world with image-guided therapy technologies.

OUR PROGRAMS

What we offer

INOVAIT provides its members with a comprehensive set of programs that are designed to maximize value creation and harness existing strengths in image-guided therapy and artificial intelligence across Canada – from access to capital and training, to industry-wide networking events.

An illustration of a dollar symbol surrounded by arrows circling it

Funding

INOVAIT provides Canada’s image-guided therapy (IGT) industry and academic institutions with targeted non-dilutive funding for commercialization-focused R&D projects involving the integration of artificial intelligence (AI) into IGT technologies.

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Networking

INOVAIT facilitates the introduction and nurturing of game-changing relationships between our members with experts in regulatory, reimbursement, manufacturing, engineering, and entrepreneurship to help companies to exceed their goals and expectations.

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Training

Canada boasts a coveted talent pool of biomedical experts keen on advancing healthcare. INOVAIT’s elite medtech entrepreneur training program, Medventions, fills in the market knowledge gap to help aspiring medtech entrepreneurs bring their innovations from bench to bedside.

AS OF 2024

Our Impact

Jobs Created and Retained

Patents Filed

Products Launched

IPOs and M&As

Additional Financing Attracted by Members

Through INOVAIT’s efforts to foster and support powerful collaborations between innovative companies and world-leading academic institutions, Canada’s image-guided therapy sector is…

Improving patient care

Reducing healthcare costs

Building a skilled workforce

Fueling economic development

Our Management Board

The Management Board is responsible for the overall governance of the network and is composed of distinguished members drawn from the business, scientific, research and technology communities.

Dr. M. Cynthia Goh, PhD and Professor of Chemistry at University of Toronto
University of Toronto

M Cynthia Goh
Dr. Steven Beyea, PhD and Scientific Director of the Biomedical Translational Imaging Centre
IWK & Nova Scotia Health Authorities

Steven Beyea
INOVAIT Co-Executive Director and VP Research and Innovation at Sunnybrook Research Institute

Kullervo Hynynen
Cara Ferreira headshot
Executive at Fusion Pharmaceuticals

Cara Ferreira
CEO & Founder at Augmentr Inc

Geralyn Ochab
University of Toronto

M Cynthia Goh

Dr. M. Cynthia Goh, PhD is a Professor of Chemistry at the University of Toronto and a successful entrepreneur focused on translating scientific knowledge into products that benefit society. In addition to having founded 7 science-based companies, Dr. Goh has also developed and implemented training programs, such as Techno and Entrepreneurship101 (E101 at MaRS).

IWK & Nova Scotia Health Authorities

Steven Beyea

Dr. Steven Beyea, PhD is the Scientific Director of the Biomedical Translational Imaging Centre, a research facility based at the IWK and QEII Health Centres in Halifax, Nova Scotia, and focused on medical imaging that spans academic research, clinical translation, and industry partnership/commercialization. In addition, he is also a Professor in the Department of Radiology at Dalhousie University, with cross-appointment to Health Sciences, Biomedical Engineering, and Physics. 

INOVAIT Co-Executive Director and VP Research and Innovation at Sunnybrook Research Institute

Kullervo Hynynen

Dr. Kullervo Hynynen, Ph.D., is Vice President of Research and Innovation and a senior scientist at Sunnybrook Research Institute (SRI), a professor in the Department of Biophysics at the University of Toronto, and is a world leader in focused ultrasound research with over 500 scientific papers and about 30 issued or pending patents. Throughout his career, he has built various networks and consortia on focused ultrasound research and commercial development. His work has led to the creation of four companies – Insightec, Ultradiagnostics, Arrayus, and FUS instruments – and as Vice President of Research and Innovation and earlier as the Physical Sciences Platform Director at SRI, he has played a key managerial role in developing SRI commercial activity, including 17 start-ups in the last 13 years.

Executive at Fusion Pharmaceuticals

Cara Ferreira

Dr. Cara Ferreira, PhD, MBA, is an executive at Fusion Pharmaceuticals a clinical stage company focused on targeted alpha therapy for cancer treatment. Previously, Cara was an Associate Partner at McKinsey & Company, where she led strategy consulting for global pharmaceutical and medical device clients. She is recognized as an inclusive leader and an outstanding mentor in both the business and scientific communities.

CEO & Founder at Augmentr Inc

Geralyn Ochab

Geralyn Ochab is a seasoned executive with over 20 years of experience driving growth and success in technology and healthcare companies. Her multidisciplinary expertise spans business development, sales, operations, strategic planning, and marketing. A change agent with a results-driven approach, Geralyn has delivered impactful results in companies ranging from her leadership in multiple start-ups to large corporations, including Imagia Cybernetics, Toshiba Canada, and GE Healthcare. A motivational leader with high emotional intelligence, Geralyn fosters performance, growth, and development. She empowers teams to achieve exceptional results, driving corporate growth and success. With a strong track record of leadership and strategic expertise, Geralyn brings valuable insights and guidance to boards and companies seeking improvement of governance practices, commercialization strategies and innovative growth.

Our Team

The INOVAIT team is dedicated to the ongoing operations and success of the image-guided therapy and artificial intelligence network.

Raphael Ronen, MSc, CFA, Director, Commercialization and Administration, INOVAIT
INOVAIT Co-Executive Director

Raphael Ronen
Headshot of Ahmed Nasef.
Programs Manager

Ahmed Nasef
Leo Mui's headshot
Network Manager

Leo Mui
Administrative Assistant

Teresa Bellantone
Project Officer

Kristian Hau
Finance Analyst

Mandy Ho
Amar Gill headshot
Legal Counsel

Amar Gill
Communications Strategist

Clara MacKinnon-Cabral
Philip Boyer's headshot
Project Analyst

Philip Boyer
Senior Financial Analyst

Celestine Okorigba
INOVAIT Co-Executive Director

Raphael Ronen

Raphael Ronen, M.Sc., CFA, has over 17 years in the medical device industry, with wide-ranging experience in business development and commercialization, including product development, financing, technology assessment, licensing, and IP management. For the past 10 years, he has had increasing managerial positions in technology transfer and business development with various world-renowned academic institutions, including MaRS Innovation, University of Toronto, and Robarts Research Institute. Most recently, he serves as Director, Business Development at Sunnybrook Research Institute. Raphael has also held senior management and advisory positions within several emerging Canadian image-guided therapy companies, including FUS Instruments and Harmonic Medical. Throughout his career, Raphael has raised over $75M in grants for commercialization activities for several industry and academic partners across Canada, including the previous FedDev TDP and ICP awards to SRI, bringing together 28 industry and academic partners to advance IGT technologies. Raphael holds a Chartered Financial Analyst (CFA) designation, an M.Sc. in Medical Biophysics from the University of Western Ontario, and a B.Sc. in Systems Design Engineering from the University of Waterloo.

Programs Manager

Ahmed Nasef

Ahmed Nasef, MD, MBA manages INOVAIT’s networking, outreach and training programs. Ahmed is an enthusiastic clinician entrepreneur who brings more than 11 years of lived experience in healthcare innovation, health science research, and technology commercialization. Ahmed holds an Adjunct Lecturer appointment at the Department of Medical Biophysics at the University of Toronto, and has been managing Medventions, Sunnybrook’s flagship healthcare innovation training program. Ahmed earned his MD degree from Cairo, Egypt and holds an MBA in healthcare management and technology innovation from Schulich School of Business at York University.

Network Manager

Leo Mui

Leo Mui, MSc manages INOVAIT’s funding program for collaborative research and commercialization and works closely with industry and academia to create and sustain impactful projects in IGT and AI. He has spent his career in a variety of roles to bring science to society through entrepreneurship and commercialization. Leo obtained a master’s in organic chemistry from the University of Toronto after completing a bachelor’s degree in chemistry and human geography.

Administrative Assistant

Teresa Bellantone

Teresa Bellantone is an Administrative Assistant with the INOVAIT team, supporting Raphael Ronen. She is excited to be a part of a growing network that provides the opportunity to do interesting, complex work that’s meaningful to the lives of all. She has a varied background supporting senior management in the mining, asset management and hydro utility businesses.

Project Officer

Kristian Hau

Kristian Hau, MBIOT, conducts project-related tasks for INOVAIT’s funding program by working closely with Network participants, from application submissions to facilitating reviews and reporting. He has held an assortment of positions during his career – from scientific research labs in academia and industry, to business development role in biotech startups. Kristian obtained his Master of Biotechnology from the University of Guelph after completing a bachelor’s degree in biochemistry at the University of Waterloo.

Finance Analyst

Mandy Ho

Mandy Ho, BA, assists network members with their financial questions pertaining to their projects and providing guidance during the claims process involving both the government and INOVAIT. Her educational background includes a Bachelor of Business Administration from the University of Guelph and a Diploma in Business Administration with a specialization in accounting from Humber College. She is actively pursuing CPA certification.

Legal Counsel

Amar Gill

Amar Gill, H.Bcom, JD, assists with the drafting and negotiation of legal agreements along with ad-hoc legal matters relating to INOVAIT. Amar also supports Sunnybrook Health Sciences Centre’s legal services team, working primarily on research agreements. Amar has an honours degree in business commerce, specializing in accounting.

Communications Strategist

Clara MacKinnon-Cabral

Clara MacKinnon-Cabral, HBSc, leads INOVAIT’s marketing, events, and public relations efforts. While raising awareness about INOVAIT’s tremendous role in Canada’s image-guided therapy sector, she assists members in marketing strategy. She has a Bachelor of Science from the University of Toronto, specializing in neuroscience, psychology, and art history. Clara’s extensive interdisciplinary background in art and science has equipped her with a robust health communications skill set.

Project Analyst

Philip Boyer

Phil Boyer, MASc, PhD, enables INOVAIT’s data strategy by supporting the network’s health data working group and is leading efforts to define the Canadian IGT sector through market research with input from network member companies. Phil has a strong background in both research and commercialization, having completed his PhD work at Sunnybrook Research Institute and previously serving various roles at a national centre for the commercialization of medical devices. Phil has a PhD in biomedical engineering from the University of Toronto, a Masters of Applied Science in biomedical engineering from Carleton University, and a bachelor’s degree in aerospace engineering from Carleton University.

Senior Financial Analyst

Celestine Okorigba

Celestine Okorigba joins INOVAIT after 10+ years in the insurance, banking and oil & gas industries. He is a CGMA, CIMA, and ACA holder and has extensive experience in experience in internal auditing, controllership, planning & reporting, governance and business partnering. He is married and has 2 kids.

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