Harmonic Medical receives funding for its med tech
FedDev Ontario contribution to accelerate commercialization of its innovative, non-invasive ultrasound therapy equipment
Medical technology developer Harmonic Medical Inc., Burlington ON, will set out to accelerate commercialization of its innovative, non-invasive ultrasound therapy equipment used to treat uterine fibroids, now that it has received FedDev Ontario contribution of more than $2.1 million.
Using focused ultrasound technology, Harmonic Medical has developed a safe and effective system to treat uterine fibroids without surgery. The company’s treatment option for women with uterine fibroids has the potential to yield significant health benefits by minimizing side effects, complications, costs and recovery time for patients.
Firm expects to create up to 26 full-time jobs
FedDev Ontario’s contribution will support final-stage product development activities and the commercial launch of Harmonic Medical Inc.’s focused ultrasound technology in North American and European markets. As a result of this project, the company expects to create up to 26 full-time jobs in engineering, manufacturing, sales, marketing and business.
“Harmonic Medical’s vision is to redefine surgery – making treatments truly non-invasive,” says James O’Reilly, CEO, Harmonic Medical. “We are poised to bring to market the world’s most advanced therapeutic ultrasound platform that will enable novel treatments for a wide range of diseases from women’s health to cancer. The contribution will accelerate commercialization of this technology, grow our operations in Canada, and help establish our firm as a global leader in focused ultrasound.”
This investment aligns with the Government of Canada’s Economic Strategy Table on Health and Biosciences, a commitment to grow this sector to support a more sustainable health system for Canadians, while advancing Canada’s economic prosperity.
Canada’s health and biosciences sector is critical
“Supporting Canada’s health and biosciences sector is critical to both the economic success of our economy and to solving health challenges facing us today,” says Navdeep Bains, Minister of Innovation, Science and Economic Development.
Established in 2010, Harmonic Medical aims to advance the field of non-invasive surgery with its focused ultrasound device. The company’s platform technology is currently in clinical trials for its initial application—the ablation of uterine fibroids, and carries the future potential to treat a broad range of oncological and non-oncological applications.
By incorporating numerous proprietary innovations, Harmonic Medical Inc.’s treatment for uterine fibroids offers an incisionless, lower-risk alternative to traditional surgeries, and is designed to be performed by the treating physician.