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Nicoya Lifesciences raises $2 million investment

Friday, March 2, 2018

Nicoya Lifesciences, a local scientific instrument manufacturer co-founded by one of the Waterloo Nanotechnology Engineering program’s first graduating class members, raised $2 million from a consortium of investors affiliated with the Toronto-Waterloo Innovation Corridor, including the new Waterloo Student Venture Fund.

Nicoya Lifesciences has grown from co-founder Ryan Denomme’s fourth-year Capstone Design project, which he refined while pursuing his master’s degree at Waterloo. After participating in the University of Waterloo’s Accelerator and Velocity programs, this Kitchener-based startup embarked upon the Communitech Rev sales accelerator program.

Innovative ideas and determination, aided by immersion in the Waterloo Region tech community, have helped the company find success: Nicoya Lifesciences already supplies researchers in more than 25 countries around the world with advanced testing equipment. The company is planning to use these most recent funds to develop new products and expand their sales and marketing efforts.

The engineers and scientists at Nicoya Lifesciences create powerful biosensor technologies and tools that medical researchers use to study diseases and develop pharmaceutical treatments. The tools incorporate nanotechnology to increase the speed and significantly reduce the cost of biointeraction testing, which allows rapid development of new diagnostic tests and pharmaceutical treatments.

Congratulation to Ryan and his team at Nicoya Lifesciences for their most recent accomplishment!

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