TORONTO, Jan. 08, 2018 (GLOBE NEWSWIRE) — Two Israeli companies will have an opportunity to test their innovative aging and brain health solutions at two Canadian seniors care organizations, after being selected for a joint partnership program operated by the Baycrest Health Sciences-led Centre for Aging + Brain Health Innovation (CABHI) and the Israel Innovation Authority (IIA).
The Canada-Israel Collaboration Program provides up to $250,000 (CAD) from CABHI and additional funding from IIA that can be leveraged by commercial organizations in Israel to test their aging and brain health innovations at Ontario senior’s care organizations. This program supports Israeli companies in deriving international scientific evidence to accelerate their innovations. In turn, Canadian organizations will have the opportunity to test cutting edge solutions addressing key challenges in seniors’ care. Moreover, the program contributes to Canada’s innovation economy, building on our strengths to turn ideas into action.
This collaboration is the result of an Ontario economic mission to Israel in 2016, led by Premier Kathleen Wynne and attended by the Honourable Reza Moridi, Minister of Research, Innovation & Science. During the mission, the government of Ontario signed several Memoranda of Understanding (MOUs) with Israeli institutions, making it easier for experts in research and innovation to collaborate on new projects that will impact the quality of life of older adults both locally and globally.
CABHI and IIA are pleased to announce the following recipients of the 2017 program:
HeartBeat Technologies (HBT) has developed proprietary software that enables doctors, nurses and individuals to remotely monitor heart related parameters and provide non-invasive care management. HBT’s solution combines off-the-shelf wearable sensors with powerful proprietary cloud-based software to form a comprehensive patient monitoring system. Monitored parameters include heart rate, oxygen levels, continuous blood pressure, cardiac output, hydration and more. The system aims to prevent hospitalization and re-admissions using smart, affordable remote patient monitoring. This technology will be trialed at Saint Elizabeth Health Care in Markham, Ontario, Canada and supported by their Intelligent Care Platform design to drive end user engagement, adoption, guidance and support. Saint Elizabeth has 110 years of experience as a national home care and health innovation leader; with over 9,000 staff members, Saint Elizabeth has conducted more than 50 million home visits in the past decade alone.
Brainsway has developed a new brain disorder treatment called Deep Transcranial Magnetic Stimulation, or ‘Deep TMS’ therapy, which uses a non-invasive approach to generate brief magnetic field pulses that activate deep brain structures. A widely tested treatment, Brainsway’s unique technology reaches areas of the brain associated with depression and other brain disorders and has been utilized in over 60 clinical trials worldwide. It is based on patents registered by the U.S. National Institutes of Health (NIH) and the company. Thousands of patients worldwide have benefited from Brainsway Deep TMS therapy. In this trial, Brainsway will be collaborating with clinical researchers at Baycrest Health Sciences in Toronto, Ontario, Canada to test the effectiveness of Deep TMS on patients with the dual diagnosis of depression and Alzheimer’s disease.
“Innovation knows no borders. We are delighted to work with the Israel Innovation Authority, which has helped us identify Israeli firms with world-leading solutions that address the pressing challenges of our aging population,” said Ron Riesenbach, Vice-President Innovation & Chief Technology Officer at Baycrest Health Sciences & CABHI.
Mr. Aharon Aharon CEO, Israel Innovation Authority, commented, “Canada is one of Israel’s major partners for innovation. We are proud that our collaboration with the Centre for Aging + Brain Health Innovation resulted in ground-breaking technological innovations offered by two Israeli recipients of the funding. We are confident their innovative solutions to address brain health and care needs will prove vital for an ever-increasing elder population worldwide. We are also calling on additional companies to submit their innovations for this program and be instrumental in finding the solutions that will provide better quality of life and medical treatment to the older adult population.”
The 2018 Canada-Israel Collaboration Program is now accepting Calls for Innovation from eligible Israeli companies. Through this program, successful applicants will be partnered with one or more seniors care organizations and pilot projects will receive up-to $250,000 CAD in matching-fund support from CABHI. Successful applicants could also receive additional funding from the IIA. Projects must last between 12-15 months and commence by September 2018. Applicants must have a matured product or service that they would like to test with older adults at a Canadian trial partner site. View the 2018 Call for Innovations at http://www.cabhi.com/canada-israel-2018/. Expressions of Interest are due by 5 p.m. on February 23, 2018.
To read the complete press release from Markets Insider, please click here.