Toronto-based medical imaging innovators
Tornado Medical Systems
will receive $750,000 in financing from the provincial government's Health Technology Exchange (HTX) to commercialize its innovative breast cancer medical imaging technology.
In announcing the investment
, HTX said the investment will help create jobs while allowing sharper diagnoses in breast cancer cases. Tornado's "world-class medical technology" should cut down the need for need for repeat surgeries.
The company was founded in 2009
as a partnership between Toronto's Sentinelle Medical Inc.
and the Thunder Bay Regional Research Institute. Headquartered in Toronto, it now has offices in Thunder Bay and Ithica devoted to developing diagnostic medical imaging tools. By the start of this year, the company had grown to employ 20 people, and launched a wave of new hiring in February
. The company is currently hiring more than 11 new staff, and is expected to continue growth as it commercializes its technology.
Dr. Stefan Larson, CEO of Tornado, said in a statement that the HTX funding would fund more technological development as well as clinical trials for the technology.
Writer: Edward Keenan
Sources: Stephanie Evans, Operations Manager, HTX; Thunder Bay Regional Health Sciences Centre