On March 24, two Forge alumni, ToeFX and Pharmasonica, took part in the Innovation Factory eighth annual Synapse Life Science Competition Showcase, Ontario’s premier life science pitch competition. ToeFX Inc. manufactures the ClearToe Therapy Light, the only photodisinfection technology approved by Health Canada for the treatment of onychomycosis (toenail fungus).Pharmasonica is an early-stage biomedical start-up developing an ultrasound-triggered drug delivery platform to increase the efficacy and decrease the side effects of chemotherapeutics. Dr. Monika Yazdanian, the CEO and co-founder of ToeFx, was one of three top finalists pitching and was named the grand prize winner, taking home $38,000 in cash, an in-kind legal package from Ridout & Maybee LLP, and a one-year membership with Life Sciences Ontario and the Hamilton Chamber of Commerce.
“The ToeFX team is delighted and proud to have been selected as the winner of the Synapse Life Science Competition 2021. This recognition will propel us forward as we strive to become the global standard of care for the treatment of onychomycosis and help patients in Canada and around the world live a life without fungal infection,” said Dr. Yazdanian. “We are grateful for the incredible support from the Hamilton life sciences ecosystem, the Innovation Factory team, the Synapse judges and mentors, and The Forge at McMaster University.”
ToeFX was founded by Dr. Irit Van-Ham, a toxicologist and formulation chemist, and in 2019 she partnered with Dr. Monika Yazdanian, a fellow scientist and specialist in tech startups. Both co-founders share a deep commitment to researching, testing, and manufacturing their products in Canada.
The Synapse Competition is dedicated to fostering the commercialization of innovation in the life science sector. Delivered by Innovation Factory, in collaboration with the Synapse Consortium, the competition supports innovators, scientists and researchers to launch their ideas to market, increase revenues, attract investment, and create jobs.
View ToeFX’s winning pitch:
View Pharmasonica’s pitch: