INOVAIT Focus Fund backs a three-year Rho project with GE HealthCare Canada, CAR and Osteoporosis Canada
Toronto. 16 Bit's project was one of 14 chosen in the first call of INOVAIT's Focus Fund, which the Government of Canada supports through the Strategic Innovation Fund. Partners: GE HealthCare Canada, the Canadian Association of Radiologists, Osteoporosis Canada, True North Imaging and the Centre for Technology Adoption for Aging in the North.
The project set out to pilot Rho in real clinical environments, iterate on the product with early customers, and generate the clinical evidence needed for adoption and reimbursement in Canada. At announcement, 16 Bit and its partners expected to invest about $6 million over three years, with INOVAIT contributing up to $2 million. INOVAIT’s project record lists a total project value of $4.35 million and an INOVAIT contribution of $1.45 million.
INOVAIT is the image-guided therapy network led by Sunnybrook Research Institute. Its Pilot Fund had supported Rho’s regulatory work and first real-world data collection from 2021.