The Sudbury Catalyst Fund has announced a $250,000 investment into IRegained, a Sudbury-based medtech startup that helps stroke patients recover hand function.
IRegained is the maker of the MyHand System, a medical device for home and clinical use that teaches a patient’s brain to relearn how to control hand function.
It’s designed to be easy to use and competitively priced, and the company said it’s goal is to help 100 million stroke survivors.
“We are grateful for the support and confidence that the Sudbury Catalyst Fund Investment Committee has placed in IRegained,” said company CEO and co-founder Vineet Johnson, in a March 10 news release.
“The investment from the Sudbury Catalyst Fund, combined with matching funds from local angel investors, will be instrumental in providing IRegained with the fuel to accelerate the commercialization of our MyHand technology to help stroke survivors reclaim their lives.”
Launched in 2020, the $5.3-million Sudbury Catalyst Fund is administered by the Nickel Basin Federal Development Corporation in collaboration with NORCAT, the City of Greater Sudbury, and the Greater Sudbury Development Corporation, with financial support from FedNor.
Focused on investments in early-stage tech companies, previous recipients of capital from the fund include FORTAI, Verv Technologies and REPerformance.
“In partnership with the Sudbury Catalyst Fund, NORCAT’s goal is to accelerate the growth of innovative companies that will drive future economic and social prosperity for Canada,” said Don Duval, Sudbury Catalyst Fund’s co-managing partner and NORCAT CEO, in the release.
“With a strong leadership team, differentiated IP and a meaningful value proposition, IRegained is poised to not only improve patient lives worldwide, but also contribute to Canada’s vibrant medtech ecosystem.”
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
