Unlocking economic value and accelerating path to patient benefit from Ontario-made cancer innovations
TORONTO, June 24, 2026 – FACIT is pleased to announce the addition of an Investment and Asset Management Committee (“Committee”) to provide strategic and expert advice on investment opportunities and advise on the growth and performance of its asset portfolio. To date, the commercialization venture firm’s portfolio of Ontario-based oncology start-ups has attracted over $1.7 billion in follow-on investment and has generated significant local economic value including 11 successful exits, formation of 20 new start-ups, and supported 17 first-in-human clinical studies bringing innovations closer to better patient care.
Leading the Committee as the inaugural Chair is Dr. Elizabeth Douville, Vice-President, Corporate Development at Biologics Manufacturing Centre. She is joined by Committee members Mr. Kelly Holman, Co-Founder and Managing Director of Genesys Capital, Mr. Ken Newport, Co-Founder and Executive Chairman of Virica Biotech, and Dr. Tom Hudson, Venture Partner at Versant Ventures and former President and Scientific Director of the Ontario Institute for Cancer Research (OICR). FACIT will draw on the Committee’s deep health sector expertise and investor experience to advise on strategic investment opportunities arising from Ontario’s leading research institutions and cancer start-ups to ensure the portfolio continues its track record of success including company scale-up and job creation.
Venture investments through FACIT’s Compass Rose Oncology Fund capitalize on Ontario’s world-leading excellence in research innovation to advance cancer care for patients. Distinct from traditional venture capital funds, FACIT’s investments strategically balance value creation through both economic priorities and potential healthcare impact. In addition, FACIT reinvests the proceeds from its returns for future opportunities in the province’s innovations, further multiplying the value of every dollar invested. The Compass Rose Fund is integral to FACIT’s continuum of commercialization capital and entrepreneurial support programs, strategically targeting pre-seed and seed stage ventures and helping to bridge the funding gap commonly faced by early life science start-ups. The addition of the Committee’s expertise further strengthens FACIT’s advisory support in helping start-up management teams navigate financing and commercialization challenges.
“This Investment Committee represents an important step in FACIT’s strategy to help unlock the full value and potential of Ontario innovations,” remarked Ms. Susan Fitzpatrick, Chair of FACIT’s Board of Directors. “Its guidance will be invaluable as we accelerate the development of cancer solutions that deliver meaningful impact for patients and the local economy.”
“FACIT has built a distinctive commercialization model supporting high-potential oncology ventures and creating long-term value for Ontario’s healthcare and life sciences ecosystems,” said Dr. Douville. “I look forward to working with my fellow Committee members and the FACIT team to continue strengthening the portfolio and help position companies to successfully attract and secure additional capital.”
About FACIT
FACIT is an award-winning commercialization venture firm that builds companies with entrepreneurs to accelerate oncology innovation, with a portfolio that has attracted more than $1.7 billion in investment to Ontario. Blending industry experience, capital and the unsurpassed clinician-scientist network of its strategic partner the Ontario Institute for Cancer Research (OICR), FACIT capitalizes on the province’s investment in research and healthcare to the benefit of the local economy and patients worldwide. Cancer Breakthroughs. Realized. facit.ca
SOURCE FACIT Inc.
