Hamilton, Ontario (August 07, 2025) — Moonrise Medical, a Canadian medical device startup
developing next-generation ultrasound technology for vascular assessment, today announced it
has secured a $500,000 investment from the government of Ontario, through the Ontario
Centre of Innovation’s (OCI) Life Sciences Innovation Fund (LSIF).
“Ontario’s life sciences sector is a beacon of innovation, empowering businesses, startups, and
incubators to advance the next generation of medical technologies,” said Vic Fedeli, Minister of
Economic Development, Job Creation and Trade. “Congratulations to Moonrise Medical on
securing another landmark investment from the Ontario Centre of Innovation. Breakthroughs
like this strengthen our economy, improve health outcomes, and help protect Ontario’s future
by ensuring that life-changing technologies are discovered and developed right here at home.”
This investment will accelerate the development and commercialization of Moonrise Medical’s
innovative ultrasound system, designed to simplify and automate the diagnosis of peripheral
artery disease (PAD). The system combines advanced imaging hardware with proprietary
software to measure blood flow in real time—offering a faster, more accessible alternative to
traditional vascular testing.
“We are thrilled to receive this support from OCI,” said Adam Gold, CEO of Moonrise Medical.
“This investment not only validates the importance of our mission but also enables us to move
faster toward clinical validation and regulatory milestones that will bring our technology to
patients in need.”
Moonrise Medical is one of 13 Ontario-based life sciences companies selected in the latest
round of LSIF investments. The Life Sciences Innovation Fund, managed by OCI in partnership
with the Ministry of Economic Development, Job Creation and Trade, was created to help early-
stage companies commercialize breakthrough health technologies and drive economic growth in
Ontario.
“This funding will help us expand our team, complete key clinical studies, and prepare for
regulatory submission,” said Abubaker Khalifa, MD, Chief Operating Officer of Moonrise
Medical. “It’s a pivotal step forward as we work to improve outcomes for patients with vascular
disease.”
Moonrise Medical is headquartered in Hamilton, Ontario, and is currently partnering with
leading vascular specialists and research institutions to validate its novel platform.
“Ontario’s LSIF empowers homegrown companies to bring health breakthroughs to market,
create jobs, and cement our global leadership in life sciences,” says Claudia Krywiak, President and CEO of the Ontario Centre of Innovation. “The Ontario Centre of Innovation is proud to
support these innovators alongside the Government of Ontario.”
“By supporting domestic companies developing transformative medical technologies, we’re not
only improving healthcare outcomes but also strengthening Ontario’s position as a global leader
in the life sciences sector,” said Raed Kadri, Vice-President, Strategic Initiatives and Business
Development and Head of Ontario Vehicle Innovation Network at the Ontario Centre of
Innovation.
About Moonrise Medical
Moonrise Medical is advancing vascular ultrasonography through proprietary automation, with
a focused mission to improve care for patients with peripheral vascular disease. By streamlining
complex workflows and enhancing consistency, Moonrise enables clinical teams to deliver
faster, more informed care where it matters most.
Media Contact:
Adam Gold
CEO, Moonrise Medical
media@moonrisemedical.com
www.moonrisemedical.com