Ontario Together Fund Supports NERv Technology’s Domestic Manufacturing
Through the Ontario Together Fund, the Ontario provincial government has committed $559,200 to support the domestic manufacturing and commercialization of NERv Technology’s breakthrough post-operative monitoring solutions as part of the company’s $1.118 million investment.
NERv Technology Inc. is a Kitchener-based medical device manufacturer that aims to re-imagine care by empowering healthcare providers with data-driven solutions that improve patient outcomes. NERv works with world-renowned institutions and surgeons in Canada and the United States to develop and commercialize hardware and software solutions that provide real-time insights into surgical site healing and patient recovery following a variety of surgeries.
The Ontario government’s investment in NERv will allow the company to expand and create jobs, sustainably manufacture its solutions domestically and support the commercial launch of their innovative solutions in Canada and international markets later this year.
“The support and partnership from the Government of Ontario is a major step towards a new future for post operative recovery. The team at NERv will build on this partnership with state-of-the-art manufacturing facilities delivering its system to the local and global ecosystems at scale.” said Youssef Helwa, NERv’s Founder and CEO.
“The investments made through the Ontario Together Fund are creating good jobs and strengthening Ontario’s MedTech ecosystem, as well as protecting the health and safety of the people of Ontario,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Ontario is proud to partner with NERv Technology Inc. to enhance Ontario’s health care system while boosting the economy.”
NERv has achieved several critical milestones over the last few years, including the successful issuance of a patent for their solution, passing the MDSAP/ISO 13485 audit in 2021, and is expecting regulatory approval by Health Canada and the Saudi Arabia FDA to commercialize its products in the Canadian and Gulf markets later this year. NERv also continues to expand its clinical pilots to further sites across the United States, beyond the world-renowned Cleveland Clinic where NERv’s solution continues to show promising results.
“On behalf of MIX, I am excited to congratulate NERv on being awarded the Ontario Together Fund. This is an incredible opportunity for domestic medical device companies like NERv to hire top talent and accelerate growth while remaining headquartered in Ontario. Companies like NERv are leaders in the MedTech ecosystem and this investment will help them to achieve their short and longer-term goals.” said Elliot Fung, Executive Director at the Medical Innovation Xchange (MIX), where NERv is headquartered. MIX is an industry-led hub, dedicated to helping medical technology start-ups scale successfully.
The Ontario Together Fund will allow NERv to grow its workforce with local talent to meet its manufacturing and commercialization goals for 2022 and beyond.