Axiom Real Time Metrics Inc., a Mississauga, Ontario-based company which provides software, electronic data collection, project management, clinical consulting, results analysis, and data management solutions for clients in the life sciences sector, was placed into receivership on July 11 on application by National Bank of Canada, owed approximately $10.4 million.

NBC brought the application following Axiom’s default under a January 2024 financing agreement. The company’s financial troubles were exacerbated by the receivership of an affiliate, J2ASM Inc., which triggered cross-defaults under NBC’s financing agreement.

KSV is the receiver.

Counsel is Norton Rose for National Bank, Chaitons for the receiver, McMillan for the company, Fasken for Sitero Canada Inc. and Loopstra Nixon for Andrew Schachter.