Leynek Medical Secures Significant Funding from Federal Government to Propel Innovation and Growth
Ottawa, July 11, 2023 – Leynek Medical, a pioneering medical device startup, is proud to announce that it has received substantial project funding from the NCFDC’s thriveFORWARD initiative, through the Federal Economic Development Agency for Southern Ontario’s Jobs and Growth Fund. This further fuels Leynek Medical's mission to revolutionize the cancer patient management landscape.
The funding, which comes as part of the government's commitment to promoting innovation and supporting emerging start-ups, will enable Leynek Medical to accelerate its product development and solidify its position as a key player in the medical device and digital health industry.
The funding, totalling $25,000, underscores the government's recognition of Leynek Medical's groundbreaking achievements and the potential it holds to drive economic development and technological advancement. With this financial support, Leynek Medical plans to accelerate its ambitious roadmap, bringing innovative product solutions to the market and revolutionizing how cancer patients manage their health status and overall quality of life.
"We are honoured and delighted to have received this significant investment from NCFDC's thriveFORWARD initiative, through the Federal Economic Development Agency for Southern Ontario’s Jobs and Growth Fund," said William Jones, Founder and CEO of Leynek Medical.
With the newfound financial support from the Federal Government, Leynek Medical plans to allocate the funds toward product development, including research and development, talent support, and regulatory pathway development. This investment will help propel the company's growth trajectory and establish a solid foundation for long-term success.
Furthermore, Leynek Medical remains committed to fostering collaboration and partnerships with industry leaders, academic institutions, and other key stakeholders. By building strategic alliances, the company seeks to leverage collective expertise, drive industry standards, and create a thriving ecosystem that enables technological advancements and fosters innovation.
"This funding will be instrumental in advancing our vision of creating the future of cancer support and will enable us to further develop our cutting-edge technologies and expand our capabilities. We are grateful for the government's trust and belief in our potential to drive positive change for the cancer patients."
The funding received from the Federal Government not only signifies a major milestone for Leynek Medical, but also reinforces the government's commitment to fostering entrepreneurship and driving economic growth through innovation. By investing in Leynek Medical's vision, the government has demonstrated its belief in the transformative power of startups and their ability to shape the future.
About Leynek Medical
Leynek Medical is a groundbreaking medical device and digital health startup focused on revolutionizing cancer patient management through innovative product solutions. Leveraging advanced hardware and machine learning algorithms, Leynek Medical aims to transform cancer patient management practices, streamline operations, and enhance overall patient quality of life and Oncology program efficiency. The company is committed to driving positive change within the sector and delivering significant benefits to patients and oncology programs.
About thriveFORWARD by NCFDC
With the support of FedDev Ontario and the Government of Canada’s Jobs and Growth Fund, NCFDC has launched thriveFORWARD to accelerate industrial investment in innovation capital across southern Ontario. By making forward investments in the talent, technology and industries of the future, we can enhance entrepreneur-led growth in strategic sectors and across multiple priority pathways. The thriveFORWARD initiative will help participants future-proof their businesses, build resiliency and prepare for long-term growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and by creating jobs across southern Ontario. Now is the time to innovate, grow and thriveFORWARD.
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