The close of the $20m Series A financing, gave us the opportunity to interview Tino Alavie, CEO of Toronto-based molecular diagnostic company Qvella.
FinSMEs: Hi Tino, can you tell us a bit more about you?
Tino: As president and CEO of Qvella, I lead the innovative research and development being conducted within the company.
In 2001, I founded NOVX Systems Inc. and served as its CEO and later as Executive Chairman. (NOVX is a medical device company that focuses on physician productivity tools including diagnostic solutions for point of care testing and EMR for patient and office management).
I was also the co-founder and President of ElectroPhotonics Corporation leading it through two successful rounds of private placement and the final acquisition by E-TEK Dynamics in June 1999. (EPC was a pioneer in the development of fiber optic sensors for physical parameter measurements and later for advanced components in optical networks.)
I have served as a technical advisor and on the board of directors for a number of high technology companies and am a Seminar Leader with the Faculty of Applied Science and Engineering at the University of Toronto.
I have a Ph.D. which I earned at the Florida Institute of Technology and have a post-doctorate in Fiber Optics Sensing from the University of Toronto.
FinSMEs: Let’s speak about Qvella. What’s the problem do you want to solve?
Tino: Qvella is a molecular diagnostics company founded in 2009 by a group of scientists and engineers with the simple goal of dramatically reducing time to results in bacteriology. Our main goal is to be able to identify blood stream infections early which makes it most impactful from a physician’s perspective for the treatment of patients.
FinSMEs: Can you tell us a bit more about the technology? How does it work?
Tino: Our uniqueness comes from an ability to be able to separate pathogenic cells (few) from blood cells (billions) found in whole blood quickly. This then enables the detection and identification of the offending microorganism by their molecular structure (RNA/DNA).
FinSMEs: Can you introduce the other founding team members?
Tino: In addition to myself, our founding team includes:
– Robert Maaskant who has a long history of successful technology and product development and has held senior positions in both in small start-ups as well as a publically held company;
– Samad Talebpour who began his career as a laser physicist working on the interaction of highpower laser generated electric fields with biological matter at Laval University in Quebec City;
– Aye Aye Khine who received her medical degree from the Institute of Medicine 1, Rangoon, Burma, and M.Sc. in Clinical Biochemistry and Ph.D. in Laboratory Medicine and Pathobiology from the University of Toronto; and,
– Steve Leonard who began his career as a scientist working on optical design and product development, from which he quickly moved into business development, and intellectual property management.
FinSMEs: Where are you in terms of growth?
Tino: Our company is currently in the development stage.
FinSMEs: You just raised a new round of funding. How are you using the funds?
Tino: We are thrilled to have just raised US$20M in our Series A funding. This latest round provides us with the capital to support our ongoing research and development, and build out our team. It also gives us access to strong investment partners who will provide strategic guidance and back our future growth.
FinSMEs: What are your next targets?
Tino: We prefer not disclose our specific future plans, but do plan to invest in our ongoing research and development and continue to build out our team.
FinSMEs
29/10/2015