• OBI’s NERVE program powers Ontario's neurotech leadership, awarding $700,000 to seven companies in 2024 as part of Canada's largest early-stage neurotechnology initiative that has invested over $5 million and attracted $168 million in follow-on investments
  • The 2024-2025 cohort tackles urgent brain health challenges, from brain-controlled interfaces and real-time EEG monitoring to microbiome-based mental health therapeutics and VR rehabilitation therapies
  • Yellowbird Diagnostics exemplifies program impact, accelerating development of breakthrough PET imaging technology with NERVE support and securing major Ontario Life Sciences Innovation Fund investment to revolutionize early disease detection

Ontario continues to lead in brain health innovation through the Ontario Brain Institute’s Neurotech Entrepreneurship to Validate Emerging Innovations (NERVE) program, Canada’s largest initiative dedicated to advancing early-stage neurotechnology companies. 

In 2024, OBI awarded $700,000 to seven pioneering ventures, accelerating the development of made-in-Canada solutions that aim to reshape how we diagnose, treat, and care for people with brain-related conditions. These companies are tackling urgent challenges across neurodevelopmental disorders, mental health, neurodegeneration, and physical disabilities – areas where new approaches can deliver meaningful change and better outcomes. 

The 2024-2025 NERVE cohort includes:

- Yellowbird Diagnostics Inc.: Plug-and-play imaging dyes to enhance disease detection

- Possibility Neurotechnologies: Brain-controlled interfaces that promote independence

- Proteus Neurodynamics: Tunable EEG earbuds for real-time brain monitoring

- caregiVR: Personalized virtual reality therapies for rehabilitation and care

- Taylored Biotherapeutics: Microbiome-based therapeutics for mental health

- Kelello Health: Digital tools enabling measurement-based mental health care

- Hummingbird by Expertiqa Technologies: Assistive technologies that improve accessibility and autonomy

Several of these innovators are already earning national recognition. Possibility Neurotechnologies was named one of the Top 15 companies in Spring Activator’s Invest Together in Women-Led Impact program. caregiVR secured new investment from Beneva Insurance to expand its therapeutic platform. In addition, caregiVR, Hummingbird, and Kelello Health were among 23 recipients of funding through the Centre for Aging + Brain Health Innovation’s Ignite program, supporting high-potential solutions for aging and brain health.

Leading home-grown neurotech innovation

NERVE is more than a funding stream; it’s a launchpad that helps entrepreneurs validate their technologies, chart commercialization pathways, and advance breakthrough solutions for people living with brain disorders.

To date, OBI has invested over $5M in neurotechnology entrepreneurship, supported 85 founders, and helped move 25 brain-health products to market, attracting $168M in follow-on investments. These successes strengthen Ontario’s leadership in neurotechnology and foster a vibrant, innovation-driven economy.

"The work showcased through the NERVE program is just a sliver of the talent we have in here at home and across Canada. I am excited to see the impact these innovative tools and services will have in improving brain health and well-being for the people of Ontario and residents of other provinces," said the Honourable Nolan Quinn, Ontario's Minister of Colleges, Universities, Research Excellence and Security.

Spotlight on Yellowbird Diagnostics: Reimagining early detection through molecular imaging

When it comes to neurological conditions, early and accurate detection can make all the difference. Yellowbird Diagnostics, part of the NERVE 2024 cohort, is working to radically improve that front line of care. By developing a first-of-its-kind positron emission tomography (PET) radiotracer, the Ontario-based startup is poised to revolutionize medical imaging, enabling clinicians to identify diseases earlier and more precisely.

With support from the NERVE program, Yellowbird accelerated development and laid the groundwork for commercialization.

The NERVE program was crucial in Yellowbird’s growth. It connected us with key opinion leaders to validate clinical needs, helped refine our regulatory strategy, and provided funding that empowered us to reach key milestones.

Nick Calvert, Co-Founder, Chief Executive Officer at Yellowbird Diagnostics

Their efforts were recently validated with a major investment through the Ontario Life Sciences Innovation Fund (LSIF) by the Ontario Centre for Innovation – a strong signal of confidence in the company’s potential to transform how brain-related conditions are diagnosed and managed.

Yellowbird’s leadership team has also been celebrated internationally for their scientific excellence. COO and Co-Founder Dr. Alexia Kirby received from the Alavi-Mandell Award from the Society of Nuclear Medicine and Molecular Imaging for her pioneering research, while Co-Founder and CSO Dr. Adam Shuhendler, Canada Research Chair and Professor at the University of Ottawa, was honoured by both the Canadian Society for Chemistry with the Melanie O’Neill New Investigator Award and the Royal Society of Canada's Rutherford Memorial Medal for her outstanding contributions to biological chemistry. 

Yellowbird is a powerful example of how NERVE helps entrepreneurs bring discoveries from the lab to life, creating real-world advances in brain health. With momentum building, they are one step closer to bringing their breakthrough technology into hospitals, clinics, and communities across Ontario and beyond.

Learn more about NERVE