December 21, 2023
Montréal-based healthtech startup, Ditch Labs, has acquired a portfolio of patents from Enovap SAS, a France-based e-cigarette company for an undisclosed amount. Enovap’s patents are valid in 15 countries and the acquisition is expected to help the startup expand its reach in inhalation technology development, through its “dual-tank, dual-coil technology”.
Earlier in 2023, Ditch Labs secured $3.25 million CAD in seed funding. The company’s convertible note seed financing was led by Amplify Capital and Boreal Ventures. Several investors including Investissement Québec, Meditrial, Kale Fund, and nine doctors from the US and Canada participated in the round, bringing Ditch Labs’ total funding to $5.7 million.
Ditch Labs was founded by Laurent Laferrière, Olivier Bourbonnais, and Christelle Luce in 2020, with the goal of developing treatment for nicotine addiction. The company’s solution consists of a medical nicotine vaporizer that facilitates controlled delivery, trackable with a mobile app. Ditch Labs’ products integrate vaping devices with mechanisms to prevent over-use, including the ability to deploy placebo hits once users reach their daily limit.
Author: Olivia Moon, 2023/2024 Articling Student-at-Law