CMDF : Our Fund

Company	Location	Investment

Adnavance Technologies	Saskatoon, SK	$1,810,000
Developing metallic DNA ("M-DNA") for application in large life sciences and nanotechnology markets

AEgera Therapeutics	Montreal, PQ	$5,573,000
Novel therapeutics for degenerative neurological diseases

Agrisoma Biosciences	Burnaby, BC	$2,164,000
Developing and commercializing chromosome-based gene transfer technology to enable the discovery and development of high vale traits in crops like grains with enhanced nutrition; and enable the production of proteins in plant-based systems

Ambit Biosciences Canada	Toronto, On	$6,082,000
Developing novel drugs for the treatment of stroke and other central nervous system disorders and for the treatment of various cancers

Cytochroma	Markham, ON	$3,152,000
Small molecule drug discovery & development company

DC Bio	Halifax, NS	$1,100,000.
Developing RNA-based ex vivo dendritic cell vaccine technology for application to cancer and diseases associated with chronic viral infections

Excel-Tech	Markham, ON	$3,000,000
Central nervous system medical devices

Gemin X Biotechnologies	Montreal, PQ	$9,694,000
Therapeutics to stimulate cancer cell death

Inimex Pharmaceuticals	Vancouver, BC	$3,000,000
Development of new medicines that utilize the innate immune response to prevent or treat human disease

IsoTis S.A. TSX : ISO;SWX:ISO	Irvine, CA, Lausanne, Switzerland	$8,065,000
Focused on the market of orthopaedics and bone graft substitutes

LifeMark Health Limited	Calgary, AB	$330,300.
One of Canada’s largest providers of physiotherapy, rehabilitation and occupational health services.

LPBP Inc. (formerly Hemosol Inc.)	Toronto, ON	$0(CMDF holds shares)
Hemoglobin replacement therapy

MedInnova Partners	Toronto, ON	$10,500,000
Protection of early-stage technologies predominantly in the Atlantic region

MedTech Partners	Ottawa, ON	$13,000,000
Incubator for early-stage technologies

MEF Finance Corp.	Toronto, ON	$50,000
Provide ongoing equipment financing for on-site equipment used by customers of Evolved Digital Systems Inc.

MethylGene TSX-MYG	Montreal, PQ	$2,900,000
Cancer therapeutics based on genomics technology

Networc Health	Calgary, AB	$1,284,000
Provider of health-related services across Canada

NeuroMed Technologies	Vancouver, BC	$4,592,000
Discovery and development of drugs to treat neurological disorders

Neuroscience Development Inc.	Ottawa, ON	$1,700,000
Early-stage neuroscience discoveries

NYSA Membrane Technologies Inc.	Burlington, ON	$600,000
Developing a membrane-based platform technology that improves the safety of the separation processes required to purify proteins and other compounds.

Ontario Inc. (2056273)	Toronto, ON	$3,610,000
Development of vaccine technology aimed at cancer and infectious diseases

Painceptor Pharma	Ottawa, ON	$4,526,000
Development of new peripheral nervous system active drugs for the treatment of pain

PharmAthene	Toronto, ON	$5,182,000
Develops a comprehensive array of countermeasures to bioterrorism

Praxim Corporation	La Trouche, FR	$6,542,000
Developing a computer assisted orthopedic surgery (CAOS) system to assit surgeons during orthopedic procedures

Protiva Biotherapeutics	Burnaby, BC	$5,750,000
Development of a systemic; non-viral gene-delivery platform

Resonant Medical	Montreal, PQ	$500,000
Researches, develops, integrates, and markets medical technology hardware and software solutions

Resonant Medical Technologies	Toronto, ON	$7,500,000
Researches, develops, integrates, and markets medical technology hardware and software solutions

SMC Ventures	Vancouver, BC	$0 (CMDF holds shares)
Biotechnology products in the areas of orthopedics, neurosurgery and oral maxillofacial surgery

Spectral Diagnostics TSX : SDI	Toronto, ON	$4,850,000
Development and commercialization of innovative rapid diagnostics

Star Bio Investments	Saskatoon, SK	$3,960,000
Development of therapies for hormone-dependent cancers and other serious disorders

Systems Xcellence TSX : SXC	Milton, ON	$3,577,000
Computer software for health services businesses

T2C2	Montreal, PQ	$4,931,000
Early-stage technologies in Quebec

Targanta Therapeutics	Montreal, PQ	$8,584,000
Drug discovery of new class of antibiotics

Transition Therapeutics TSX : TTH	Toronto, ON	$2,049,000
Biopharmaceuticals for the development of regenerative therapies for the treatment of diabetes; MS and stroke

Trillium Therapeutics	Toronto, ON	$3,270,000
Development of therapies that restore balance to the immune system

Twinstrand Therapeutics	Burnaby, BC	$4,084,000
Development of recombinant therapeutics for the treatment of human diseases

University Medical Discoveries	Toronto, ON	$14,900,000
Early-stage incubator for university discoveries

ViOptix	Toronto, ON	$7,071,000
Developer of non-invasive medical devices to measure oxygen levels in tissue; for use in surgery; peripheral vascular disease; and wound management.

Viron Therapeutics	London, ON	$7,004,000
Developer of non-invasive medical devices to measure oxygen levels in tissue; for use in surgery; peripheral vascular disease; and wound management.

WV CMDF Queen’s Scientific Breakthrough Fund	Kingston, ON	$1,380,000
Technologies developed at Queen's University

Xillix Ltd. (Subsidiary of Xillix Technologies)	Richmond, BC	$5,000,000
Medical imaging devices using autofluorescense imaging for cancer detection


Total Invesments (CDN$ at cost)		$256,206,800
As at December 31, 2005