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This is one in a series of interviews with CFIN member companies that have successfully applied for and received funding. 

Kitchener, ON-based Psigryph, Inc. received $99,925 in funding for a project titled Clinical Trial for Cholestello – A Dietary Supplement for Maintaining Healthy Cholesterol Levels. 

We spoke to Sean Thompson, co-founder and CEO of Psigryph, Inc., to find out more about the company and its project. 

Q: Please explain what your company does and how your products are improving the food industry. 

A: Our Nanopect is a sour-cherry derived, biodegradable, non-toxic delivery system for living cells. It solves health, sustainability and climate problems in the agriculture, food and pharmaceutical industries by greatly enhancing absorption. So, much less material is required to obtain the benefit being sought. We’re launching a dietary supplement called Cholestello in the U.S. in 2024. We’re also developing greenhouse gas reducing biopesticides and fertilizers launching in 2026. 

Q: What is your company’s mission? 

A: Psigryph, Inc. is a foodtech/agritech company harnessing the power of food to deliver biologically active molecules to improve the health of plants, animals and humans. Using plant-derived nanomaterials, our Nanopect biodegradable, non-toxic delivery system provides environmentally friendly solutions for problems in agriculture, food, and pharmaceutical industries. 

Using cutting edge science and technologies, Psigryph unleashes the power of biology guided by the following principles: 

Q: Why did you apply for this funding and how will you use it? 

A: We applied for this funding to enable us to conduct a clinical trial with Cholestello. There are large commercial entities with whom we would like to partner who have asked for this data amongst some other things. The funding enables us to generate pivotal data required for commercial transactions. Investor appetite in Canada is risk intolerant, so this funding is very useful for small emerging companies like Psigryph. 

Q: What excites you most about working in this area of the food industry? 

A: I think our mission statement really captures this well. It’s an idea that is uniquely simple and powerful: harnessing the power of food to deliver biologically active molecules to improve the health of plants, animals and humans. Using plant-derived nanomaterials, our Nanopect biodegradable, non-toxic delivery system provides environmentally friendly solutions for problems in agriculture, food, and pharmaceutical industries. This concept is very exciting and motivating for all Psigryph stakeholders. 

Q: Why is collaboration so important for accelerating innovation in the food industry? Is it difficult to find good collaborating partners, and what would make the process easier? 

A: As the African proverb goes, “If you want to go fast, go alone. If you want to go far, go together.” We strongly believe that no one person nor group has all the knowledge. Collaboration is key to solving complex problems. So, we constantly seek input from other knowledgeable groups to help guide the development of Nanopect to solve the most pressing problems. What would make it easier? People embracing the idea that they are not the smartest person in the room. Openness to collaborating. It really starts with the mindset of the people involved. 

Q: Please comment on the importance of public funding to help companies clear innovation hurdles and access leveraged funds. 

A: Investor appetite in general is risk averse. Canada is risk intolerant. There simply is no way we would have survived as a company without government funding. I think this is true for most technology companies. I think the government will always have to take the lead if companies are to remain and thrive in Canada. This is clearly understood in the U.S. and that is why so many companies move there. I think we have much to learn from them and from Europe. Switzerland is particularly good. They have a much smaller economy than Canada but a much better entrepreneurial environment.