Quebec City, Canada, February 8th 2024 – The City of Quebec today announced a $3M contribution to the Linearis Ventures’ fund establishing its Quebec City headquarters in the former Medicago laboratories (a subsidiary of Mitsubishi). Thus, the fund has exceeded 33% of its first commitment target of $50M. With this leverage effect, the City of Quebec is directly contributing to the region’s economic growth by creating optimal conditions for other investments, the creation of specialized jobs in several companies combining life sciences and artificial intelligence (AI), and also promoting their growth internationally.

“With this investment, we are pursuing our essential mission of supporting key players in our city who are innovating and making us shine on the national and international scenes. Life sciences and AI are key sectors for the future of humanity and we are eager to advance research in these fields in Quebec City.”
– Bruno Marchand, Mayor of Quebec City

“We are honored by Quebec City’s confidence in our mission to strategically combine science, AI, and entrepreneurship to propel innovative companies whose solutions will improve healthcare trajectories.”
– Alexandre Le Bouthillier, PhD, partner and co-founder

Linearis Ventures is a responsible healthcare and AI investment fund facilitating the creation, improvement, validation of new medicines and health technologies. Its partnerships with portfolio companies, industry open up new horizons in precision medicine in realizing its mission to accelerate the innovation cycle through accessible solutions designed to improve patient’s health. In this respect, the Fund’s investments will transform healthcare through close collaborations with its metabolomics laboratory, merging AI and biomarker analysis to support the international growth of innovative companies. These interactions will optimize the development and commercialization of solutions for the prevention, monitoring, treatment of metabolic diseases such as cancer, diabetes and antimicrobial resistance.

Linearis Ventures is managed by renowned experts in the fields of healthcare innovations, drug commercialization, and biomarker discovery- Alexandre Le Bouthillier, a serial AI entrepreneur and Manon Boisclair, former global BioPharma executive who have invested in 28 companies; Jacques Corbeil, Canada Research Chair in Medical Genomics, with expertise in AI-health and entrepreneurship. The trio is supported by internationally recognized advisors, including Yoshua Bengio, co-founder, father of modern AI and Turing Award winner; David Wishart, creator of the human metabolome database; and Nathalie Tremblay, an expert in healthcare innovation and strategic alliances.

Press Conference: Quebec City and Linearis Ventures will have a joint press conference on February 8^th 2024 at 10:00 EST, which will be held at the City Hall (2 des Jardins in Quebec City, QC, Canada). The event will be transmitted live on YouTube at QuebecVille- Espace Presse.

This project is carried out with the financial support of the Québec 2026 Entrepreneurial Vision of the City of Québec. Focused on entrepreneurship, innovation, growth, financing, and support, the Québec 2026 Entrepreneurial Vision aims to make Québec the entrepreneurship capital of the country. It brings together programs and financial aid measures to grow businesses. The Vision benefits from funding of more than $134.7 million from the Government of Québec. The City of Québec, the National Capital Secretariat, and Québec International act as key partners in the dissemination of the Vision. To learn more, one can visit ville.quebec.qc.ca/financement.

Cautionary statement regarding forward-looking statements
The information contained in this press release cannot be considered as an offer or solicitation with respect to products or services presented in a territory where such offer or solicitation would be illegal. Linearis cautions investors that any forward-looking statements made by Linearis, including those made in this announcement such as business objectives and other statements that are not historical facts, are subject to inherent risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include but are not limited to those described in Linearis’ Financial Report; changes in market conditions, customer demand, or the competitive environment; changes due to regulatory issues; and other unforeseen events. You are cautioned not to place undue reliance on forward-looking statements, which reflect projections only as of the date of this press release. Except as may be required by applicable law, Linearis disclaims any intention or obligation to update or revise any forward-looking statements.

Media contact: Manon Boisclair MS, MBA, ICD.D, Partner (media@linearis.com)