Toronto held third place for the second year in a row on the Commercial Real Estate Services (CBRE) ranking of the top 50 North American tech employment markets. Vancouver and Waterloo Region ranked ninth and 10th, respectively, with Montreal in the 11th spot. A record six Canadian cities were among the top 15 markets, including Ottawa and Calgary. Quebec City and Edmonton also made the list at number 37 and 42. (The Logic)
The drug companies used a personalized mRNA vaccine combined with Keytruda, an immunotherapy drug developed by Merck, to treat people who have had surgery to remove melanoma, the deadliest form of skin cancer. The late-stage trial found the experimental treatment reduced skin cancer recurrence and spread more than Keytruda alone. (The Logic)
In a release, the former Bank of Canada senior deputy governor said she agreed to advise the board of CAD Digital, the company behind CADD, because Canada has an opportunity to develop digital payments infrastructure that balances stability with innovation. (The Logic)
James Bryce, Canada Pension Plan Investment Board’s head of infrastructure, told the Financial Times that investing in private funds can give both the pension and fund managers access to increasingly large transactions that may be difficult to pursue on their own. (Financial Times)
The fintech company, which funds e-commerce companies based on their sales data, said it plans to extend US$900 million to client businesses over the next two years. Macquarie’s backing will let Clearco offer its clients larger funding deals, letting retailers make bigger inventory commitments. (The Logic)
Foodtech companies raised $62.7 million across 47 deals in the first half of the year, according to a new study by the Canadian Food Innovation Network (CFIN). Foreign investors led the two largest equity deals—Miraterra Technologies’ $16-million round and NS/TX Industries’ $14.7-million fundraise. There were no Canadian-led deals at the Series A stage or later. (The Logic)
The Alberta Utilities Commission denied Synapse Real Estate’s application to build a 1.4-gigawatt natural gas power plant serving a data centre in the town, which sits between Calgary and Edmonton. The regulator said the site “is simply not suitable for the proposed development.” (The Logic)
Andreessen Horowitz accelerator a16z Speedrun led the pre-seed round for the U.S.-incorporated startup, with participation from Toronto funds Golden Ventures and Northside Ventures, as well as angel investors. Space will use the new money to add to its engineering team and for sales and marketing, said co-founder Jason Zhao. (The Logic)
Montreal-founded Aylo, which owns Pornhub and other adult sites, would pay an initial US$25 million into a fund, then instalments of US$15.8 million for six years, to children that appeared on its websites between early 2011 through late 2024, according to a redacted version of the settlement filed on Friday. The settlement could conclude a five-year court battle in Alabama and California. (Le Journal de Montréal, The Logic)
Inovia Capital and Deloitte’s Canadian venture arm led the seed round investment in the Toronto-based startup, with participation from Khosla Ventures and Entrepreneurs First. The firm will use the new money to hire, and to sell to more clients. (The Logic)