University of Waterloo researchers, students and alumni are at the forefront of critical discoveries that unlock solutions for the future of humanity and our planet. Ryan Denomme (BASc '10, MASc '12), CEO and founder of Nicoya Lifesciences, is no exception.
While pursuing his master's degree in mechanical engineering at Waterloo, Denomme encountered a recurring challenge: researchers in biological characterization were limited by the high cost and complexity of traditional surface plasmon resonance (SPR) systems, slowing the pace of discoveries on human diseases and how to treat them.
Launched with the support Velocity - the University's flagship startup incubator - Denomme drew from his background in nanotechnology and developed a comprehensive solution to help scientists rapidly advance drug discovery and development.
Denomme explains that Nicoya, a Kitchener-based biotechnology company, was founded after recognizing that biologics-mediated therapies account for more than 40 per cent of the therapeutic pipeline. Yet, researchers face significant hurdles in assessing their safety and efficacy.
"Nicoya's product portfolio and platform provide researchers and drug developers with a suite of automated, high-throughput and integrated tools to characterize the three most critical aspects of biologics: stability, structure and function - all without relying on disparate technologies and datasets," he says.
Simply put, the company is improving human life by helping scientists get to critical discoveries faster.
From academic spin-off to global impact
What began as an academic spin-off in 2012 has grown into a globally adopted provider of accessible, high-throughput SPR instrumentation. Today, Nicoya employs close to100 engineers, scientists, technicians and designers that work at the intersection of nanotechnology, microfluidics, biochemistry and optical sensors - helping to advance discoveries in more than 40 countries.
This growth has also made Nicoya a key economic contributor in the Waterloo region, offering co-op placements and full-time employment to Waterloo students, alumni and local residents.
"Waterloo talent has been core to Nicoya from the beginning and many of our top contributors are alumni or former co-op students," Denomme shares. "Almost 50 per cent of our executive team are Waterloo alumni and 80 per cent are alumni of the region."
From developing OpenSPR flowcells with the R&D team to supporting application development, co-op students have played a vital role in Nicoya's commercial success. The company is part of a global network of more than 8,000 employers connected to Waterloo that help students build work-ready skills and secure meaningful employment - with some becoming essential members of the team.
Terese Dimeck (BASc '23) is one such example. After working with Nicoya through co-op terms and part-time contracts, she made significant contributions to the company's flagship product development. "I was happy to contribute to Nicoya's Alto instrument through the development of a new sensor chemistry, digital microfluidic protocol design for new features and redesign for improved reliability," she says. Now a graduate, Dimeck is a full-time member of the company.
"We keep hiring from Waterloo because students and grads bring strong technical skills, a problem-solving mindset and a drive to innovate that aligns perfectly with our mission in life sciences."
Pioneering the future of drug discovery
Over the past decade, Nicoya has launched several groundbreaking products, including OpenSPR-XT - the first automated benchtop SPR instrument - and Alto™, the world's first digital microfluidics-based SPR system. Most recently, Nicoya announced the acquisition of Applied Photophysics, expanding its portfolio of analysis tools for drug development and global reach.
Looking ahead, the company plans to expand its global footprint, invest in AI-powered data analysis, and collaborate with leading researchers to bring label-free interaction analysis to the forefront of therapeutic development.
With more than 70 per cent of Waterloo students gaining up to two years of work experience during their studies, the talent developed here continues to drive economic impact - both locally and around the world.
Hire Waterloo talent today.
