Members of Anges Quebec have invested in an Ontario-based, Quebec-born startup working on cancer treatment technology, while Montréal’s Fresche Legacy has acquired Quadrant.

Anges Quebec, Aligo Innovation and more invest in Ovensa

Angel investor Christophe Goffoz led a $530,000 investment into Ovensa, a biotechnology startup focusing on developing personalized treatments for cancer and neurodegenerative diseases. Members of Anges Quebec took part, as did Aligo Innovation and more private investors.

Cancer and brain disease treatment typically present enormous challenges in medical science. Ovensa’s new technology delivers therapeutic molecules through oral administration to targeted human tissue, including the brain. According to the startup, this is a major medical advancement.

According to Ovensa’s president Stéphane Gagné, the company plans to develop more personalized medications for patients, in partnership with the pharmaceutical industry.

“This will lead to better results and drastically reduce treatment side effects that impact patients’ quality of life.”

In delivering medication directly to glioblastoma cells (brain tumours) and to Tau and beta amyloid proteins (which play a significant role in the development of Alzheimer’s disease), the technology “will increase the efficacy of many treatments while reducing their toxicity.”

Priyum Koonjul, Aligo’s director of business development and investment, said that Ovensa’s technology was created at the University of Quebec in Rimouski (UQAR).

“This is a great example of marine-derived blue biotechnology and is reflective of current global trends,” he said.

“I think it is important to believe in these entrepreneurs who are working for the common good and pushing the limits of health science,” added the leading angel investor, Goffoz.

VC investors back Fresche Legacy’s acquisition of Quadrant

Fresche Legacy, a company that helps companies better manage and evolve their IBM i applications, has acquired Quadrant LLC, a company that helps organizations maximize their investment in the IBM i, Z/OS and Avaya platforms.

The Fondaction CSN, the Fonds de solidarite FTQ and the Bank of Montreal all backed the deal that was originally closed on June 3.

As PEhub’s Kirk Falconer reported, Fresche’s buy of Quadrant follows earlier acquisitions, including looksoftware in 2014 and Databorough in 2013. The Fonds de solidarité FTQ announced in late 2015 that it had invested $7.8 million in Fresche.

Quadrant brings to Fresche solutions that can help companies maximize their investments in IBM i, Z/OS and Avaya platforms, operating under brands like Quadrant Software, BCD, NetLert, SoftBase and ExcelSystems.

With more than 150,000 clients worldwide, the IBM i platform (formerly AS/400, iSeries, System i) is a high value component of IBM’s Power Systems business. However, organizations struggle with maintaining and evolving their aging applications. They also face a shortage of skills due to a retiring workforce.

“With a 100 percent focus on helping customers achieve their IT goals, our solutions enable customers to better understand, leverage and extend the value that resides within their IBM i applications and systems. We are thrilled to welcome all of the amazing and incredibly talented people joining us from The Quadrant Group who share the same commitment,” said Fresche’s CEO Andy Kulakowski.