The billionaire family behind grocery chain Loblaw is set to announce its first investment through its Wittington Innovation Fund. It’s leading a $14-million funding round in Grey Matter Neurosciences, which aims to treat age-related brain disorders such as Alzheimer’s disease. Toronto Innovation Acceleration Partners, Ontario Centre of Innovation and Ontario Brain Institute are also participating in the deal. (The Globe and Mail)
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The billionaire family behind grocery chain Loblaw is set to announce its first investment through its Wittington Innovation Fund. It’s leading a $14-million funding round in Grey Matter Neurosciences, which aims to treat age-related brain disorders such as Alzheimer’s disease. Toronto Innovation Acceleration Partners, Ontario Centre of Innovation and Ontario Brain Institute are also participating in the deal. (The Globe and Mail)
Talking point: The family has long donated to health and environment initiatives through the Weston Family Foundation, including a $16.7 million grant to Toronto’s Sunnybrook Hospital in 2020 for research into a technology that Grey Matter is now licensing from the institution. The new fund, which will be managed under the Westons’ venture capital firm Wittington Ventures, aims to go beyond funding research to help commercialize innovation in its chosen sectors, with a focus on backing Canadian companies.
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