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Background

Here we are...
          here we grow!
A winning concept...

In 1994 and in classic entrepreneurial style, the core designs for the first IS2 cameras were envisioned in the basement of the founders' house, the very place where early models were assembled. lain Stark and Francoise Pilon self-funded IS2's earliest days. The resultant efforts produced designs for an entire family of gamma cameras, As all models were conceived from the outset, field upgradeability had been designed in from the start. Commonality of components across all models provided potential for cost savings never before possible in the industry. Remote reading and remote servicing capability had been made an integral part of the core technological design. Attention to scientific and electronic detail promised to deliver unprecedented image quality and resolution. The cornerstones of IS2 had been firmly established: Best Performance, Best Price.

 

  

 

In 1996 lead investor funding from Dr. Malcolm Powell allowed for filing of patents as well as for the production of the first working gantry. Dr. Powell is a retired Nuclear Medicine physician and a graduate of the Harvard Medical School. He also holds a degree in Chemistry from Princeton University, He worked with Dr. H. Anger (inventor of the first gamma camera) and created some of the first nuclear medicine images.


"I used Stark-designed
cameras in my private
practice. The image quality
was the best available and
reliability was outstanding. I
had long believed that major
manufacturers were remiss in
their slowness to incorporate
developments in electronics to
improve their cameras. The
opportunity to bring Iain
Stark's most forward thinking
designs and inventions to life
had enormous appeal to me
and my support has been
fully justified."

M. Powell, M.D., FACNP
                    Initial investor.

IS2 Research Board Member
 

 

Reliable innovation...

After subjecting the first gantry to a simulated 30 year reliability test the only servicing requirements were adjustment of cam followers (once) and vacuum cleaning (twice). This test provided the first real concrete evidence that IS2 cameras would be the most reliable in the industry, with the lowest level of ongoing service costs. A U.S. gamma camera service and sales organization commenting on late model IS2 cameras would go on to say:


"I've looked hard at the camera. You and I both know there are no expensive parts that will break."

World-class science...

IS2's scientific advisors come from around the globe and provide the Company with medical, clinical, and scientific guidance. They serve as critical "sounding boards" helping to evaluate and fine tune technology to ensure that it meets both the industry and the patient's needs. Advisor representation is multifaceted including expertise in cardiology, general nuclear imaging, scintillation physics, and multi-modality imaging.

 Experienced investors...

By 1997 major funding had been solicited from institutional investors. Capital Alliance Ventures Inc. (CAVI), based in Ottawa, Canada and with a portfolio of $80M, is a premier investor in high-technology companies. Denzil Doyle, Chairman, is often referred to as the "Father of High Technology" in Canada's Silicon Valley North. Prior to cofounding CAVI he built Digital Equipment's Canadian subsidiary from infancy into a $160M enterprise. Mr. Doyle served on the National Research Council of Canada, was a member of the Board of Directors for Newbridge (a $1 billion enterprise - now Alcatel), and sits on several Boards including that of IS2 Research.

"Ottawa is Canada's high-tech capital. The skill sets and resources that IS2 needs to be
successful are already in the community. We invested in IS2 because we think it has what's needed to be a world-leader and a  catalyst to building a world-class medical and bio-tech sector in the Ottawa Valley."
                                    Denzil Doyle
Chairman, Capital Alliance Ventures

First Ontario Fund of Toronto, Canada, is a $65M fund describing itself as being "different" from traditional VC funds because of its focus on lower risk investment opportunities. It's primary goal is to balance good growth prospects with lower risk. Ken Delaney, President of First Ontario Fund, sits on the IS2 Board. He was a principle architect in the buyout of Algoma Steel, a $700M integrated steel maker He holds a Bachelor of Commerce, a B.A in Economics and an M.A. in Industrial Relations,

The Business Development Bank of Canada (BDC) is a nation-wide $5.6 billion organization. Its venture capital division focuses primarily on technology based companies.
"IS2 represents one of the most exciting companies in my portfolio. The business
fundamentals are right, the market need is there and the management team is strong."
                                   Ron Warburton
                     Director, Venture Capital
Business Development Bank of Canada

 

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