TORONTO, April 22, 2013 /CNW/ - MaRS Innovation, a Centre of Excellence for Commercialization and Research, today announced the formation of a strategic partnership with Pfizer Inc. to advance early-stage technologies related to human health in
therapeutics and diagnostics.
Through this collaboration, MaRS Innovation and Pfizer will jointly
identify investment opportunities emerging from well-validated
scientific research discoveries within MaRS Innovation's 16 member institutions, including the University of Toronto and its nine affiliated teaching hospitals.
"There's growing consensus that transferring technologies from the
university lab bench and into the market requires unique public-private
partnerships," said Dr. Raphael Hofstein, president and CEO of MaRS Innovation. "Partnering with MaRS Innovation
gives Pfizer access to Toronto's robust innovation pipeline and a close
look at emerging IP from Canada. It signals both the strength and
attractiveness of our commercialization model and Toronto-based
research technologies to global industry players."
"Our government is committed to making Ontario the best place to
translate great ideas into innovative products that will gain demand
around the world," said the Honourable Reza Moridi, Ontario Minister of Research and Innovation. "Today's announcement
from MaRS Innovation is an exciting collaboration with Pfizer that will
both advance healthcare technologies for Ontarians and help to
strengthen our economy."
Pfizer will provide funding over a three-year period to support
promising individual projects based on their due diligence, which will
be leveraged with financial support from MaRS Innovation. Together, it
is intended to accelerate the development and validation of healthcare
technologies within a highly innovative academic cluster in Canada.
"We are excited by this partnership with MaRS Innovation and look
forward to working collaboratively to help advance promising healthcare
technologies," said Uwe Schoenbeck, chief scientific officer, External R&D Innovation at Pfizer.
The partnership's shared vision for transformative technologies will
benefit the health of Canadians and others around the world. "Forming
this partnership also builds on MaRS Innovation's recent success in securing $15 million in funding from the Networks of Centres of
Excellence," said Hofstein. "Pfizer is a significant global player in delivering
healthcare technologies in Canada and worldwide; our projects will
benefit from their understanding of the marketplace and help us achieve
our goal of jointly developing long-term, mutually-beneficial
technological solutions to many challenging health problems."
About MaRS Innovation
MaRS Innovation is the commercialization agent for Ontario's exceptional discovery
pipeline from 16 leading academic institutions. As a single-entry point to member-based activity of $1 billion in
annual research and development, MI is a gateway for investors and
licensees to access technology assets. Supported by the Government of
Canada through the Networks of Centres of Excellence, by the Government of Ontario through the Ontario Centres of Excellence, and by its 16 member institutions, MI is a transformational
partnership that turns research strengths into commercial
opportunities. MI's portfolio includes the most promising assets from its members' pipeline, which it
advances into global markets through industry partnerships, licensing
and company creation.
SOURCE: MaRS Innovation
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