Life Sciences Company Nicoya Obtains Growth Financing From BDC Capital
KITCHENER, May 14, 2019—BDC Capital’s Growth and Transition Capital division provided mezzanine financing to Kitchener company Nicoya as part of its recently announced $7.7 million capital raise. Nicoya’s flagship product, OpenSPR, is the world’s first benchtop surface plasmon resonance (SPR) instrument, which provides the same data as competing products but at a fraction of the cost. OpenSPR has helped hundreds of scientists around the world to better understand diseases like cancer and neurological disorders and develop drugs to treat them.
BDC Capital’s contribution, which comes in the form of non-dilutive, patient capital, will help Nicoya develop and market a new version of OpenSPR to the biotechnology and pharmaceutical sectors. This project will also allow the company to meet increasing demand and create jobs in the Kitchener-Waterloo region.
“We are very excited about this contribution from BDC Capital and utilizing these funds to help create 30 new jobs and continue to fuel our rapid growth,” shares Ryan Denomme, Chief Executive Officer and Co-founder of Nicoya. “We aren’t here for second place, and it’s funding like this that will support Nicoya on our mission to improve human life and help us to become a global biotech leader. We are so appreciative of the support and investment that BDC Capital has made in Nicoya and are looking forward to expanding into new industries and transforming the lives of millions of people.”
The transaction was conducted on BDC Capital’s end by Mark Lunick, Director, Growth and Transition Capital, for Southwestern Ontario. “Having validated their offering and business model in academia, Nicoya now has the potential to disrupt the biotech and pharmaceutical research sectors,” says Lunick. “Nicoya’s leaders are visionaries who possess business acumen beyond their years, which, coupled with the impressive group of investors and advisors they have attracted, sets the company apart from others in this space.”
Nicoya’s mission is to improve human life by helping scientists succeed. Nicoya uses innovative nanotechnology to reduce the cost and complexity of scientific instruments, making them accessible to everyone. With customers in over 30 countries and countless publications, Nicoya continues to empower scientific innovation. Visit nicoyalife.com to learn more!
About BDC Capital
BDC Capital is the investment arm of BDC-Canada’s only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.