Impact of location
I wonder if this company would have executed much faster if HQd in the US, given a more demanding VC culture and better availability (quantity, not quality) of both scientists and experienced leaders. Both are amazing countries but one has much better infrastructure for companies like Theralase that have innovative products. The other Canadian company I invested in was a Medical Robotics company. After 10+ years of watching them push schedules, change the name of their product, give one reason or the other as to why FDA submission needs more work, dilute to raise cash - many times just after saying they had enough funds for X months or years, revolving CEO and leadership doors, poor communications, etc., I sold a vast majority of my shares. They have a ton of patents and an amazing prototype. Surgical luminaries from the US were on the SAB. They've now become just a supplier of parts to Medtronic, who also bought some of their patents on the cheap. They still say they will ship their robot some day. Under new leadership. I do want the Theralase story to be much better than that. Canada deserves this.