MONTREAL, Oct. 2, 2013 /CNW Telbec/ - The five Contenders of the first AmorChem KNOCK-OUT Event valiantly climbed into the ring today at BioContact to duke it out against a panel of Heavyweight Champions for a chance to win a coveted $500,000 financing from AmorChem. Earlier in the summer, AmorChem, the innovative Quebec-based venture capital seed fund, launched a province-wide call for proposals to participate in its KNOCK-OUT Event.
All the Contenders displayed remarkable courage and agility in the ring, yet only one could stand victorious.
It is with great pleasure that AmorChem announces the winner of the 2013 KNOCK-OUT Event:
Dr. John Stagg
"Targeting CD73 with small molecules in oncology"
Institut du cancer de Montréal, Centre de recherche du Centre Hospitalier de l'Université de Montréal and Faculty of Pharmacy, Université de Montréal
"This first KNOCK-OUT Event has been quite an adventure and we are very pleased with the outcome of the battle in the ring today. The Heavyweights had a tough job and we are very enthusiastic about their selection," comments Inès Holzbaur, General Partner at AmorChem. "We would like to thank the Contenders for rolling with the punches, our Heavyweights for bringing their individual expertise into the ring today and Christopher Hall for successfully keeping everyone battling without the rule."
"Our hopes and objectives have been well surpassed for this Event," says Elizabeth Douville, General Partner at AmorChem. "We created this Event to increase the Quebec research community's awareness of AmorChem and reach out to researchers who may not have been aware of the possibility of commercialising aspects of their work. This Event definitely reached those goals."
The final bell has rung; AmorChem now looks forward to working with Dr Stagg.
The AmorChem KNOCK OUT Event is proudly sponsored by ROBIC, LLP.
AmorChem L.P. (www.amorchem.com) is a venture capital fund located in Montreal focused on investing in promising life science projects originating from Quebec-based universities and research centres. The principal limited partners of this fund are Investissement-Québec, FIER Partenaires, Fonds de solidarité FTQ and Merck & Co. This fund is the latest addition to the GeneChem portfolio of funds, a fund manager in existence since 1997. AmorChem's innovative business model involves financing research-stage projects to enable them to reach pre-clinical proof-of-concept ("POC") in a semi-virtual mode within 18-24 months. The fund seeks to generate returns through a two-pronged exit strategy: sell projects having reached POC to large biotechnology or pharmaceutical companies; or bundle them into new spin-out companies. AmorChem using external resources will manage the projects. To that effect, AmorChem has established a strategic partnership with the Biotechnology Research Institute in order to access its R&D platforms. In addition, to enabling projects requiring small molecules as tools or drug leads, AmorChem has founded NuChem Therapeutics Inc., a medicinal chemistry contract-research company.
Founded in 1892, ROBIC, LLP is an internationally renowned firm of lawyers, patent and trade-mark agents specialized in Intellectual Property and Business Law. Headquartered in Montreal, ROBIC is a Canadian firm with more than 175 people including 23 partners and 45 professionals. We provide dynamic and entrepreneurial assistance and representation to clients in executing business transactions in addition to managing, protecting, enforcing and commercialising their intellectual capital.
BioContact Quebec 2013: The 19th edition will take place on October 2nd and 3rd 2013, at the Château Laurier in Québec City. Representatives from over 24 biopharmaceutical companies from Canada, the United States and Europe will be attending.
For further information:
Media Contact for AmorChem
T 418 521 3771