Partners to donate a portion of their profits from Lumira Capital IV L.P. to support foundations' research, translational medicine and healthcare access missions. Affiliated foundation institutions gain access to Lumira Capital team and extended network to accelerate their innovation strategies.
TORONTO, June 6, 2017 /CNW/ - Lumira Capital, a leading North American healthcare venture capital firm, announced today that it has launched a new philanthropic initiative whereby the firm's partners will donate a portion of their profit share from Lumira Capital IV L.P. to up to fifteen leading healthcare foundations in Canada. This initiative was welcomed by the fund's investors, which include returning investors the Business Development Bank of Canada, FONDS de solidarité FTQ, Fondaction CSN, Northleaf Capital Partners, Teralys Capital and, as well as new investors including Caisse de dépôt et placement du Québec, Kensington Capital Partners, Iljin Group and a number of family offices in Canada and the United States.
"Lumira has always been dual-mission focused, striving for great returns for our investors and best-in-class healthcare innovations for patients" said Peter van der Velden, Managing General Partner of Lumira Capital. "This new philanthropic initiative is, we believe, a first in Canada and we are extremely pleased to have found a way to align the long term philanthropic objectives of the partners at the firm with our vision and passion for building healthcare companies whose products and services have the potential to transform the lives of patients in Canada and around the world."
"At a time when funding for biomedical research and access to new innovative therapies is under severe pressure, we are excited to be able to implement creative programs and solutions that support the vital missions of our new foundation partners," added Dr. Daniel Hetu, Managing Director of Lumira Capital. "Beyond a simple financial relationship, we also intend to work closely with these foundations and their affiliated institutions so they can utilize the full Lumira team and network to help them drive their innovation strategies forward successfully. We are pleased to welcome these distinguished organizations as long-term partners of Lumira Capital."
The charter foundation participants in Lumira's philanthropic initiative are:
- BC Children's Hospital, Vancouver, British Columbia
- Fondation de l'Hôpital Maisonneuve-Rosemont, Montreal, Quebec
- Heart and Stroke Foundation of Canada, Toronto, Ontario
- Montreal Heart Institute Foundation, Montreal, Quebec
- Princess Margaret Cancer Foundation, Toronto, Ontario
- SickKids Foundation, Toronto, Ontario
- St. Joseph's Healthcare Foundation, Hamilton, Ontario
- St. Michael's Hospital Foundation, Toronto, Ontario
- Sunnybrook Foundation, Toronto, Ontario
- Trillium Health Partners Foundation, Toronto, Ontario
- VGH & UBC Hospital Foundation, Vancouver, British Columbia
Commenting on this initiative a number of the foundations provided these insights:
"The richness of the research ecosystem of the Montreal Heart Institute and the growing project portfolio of Lumira Capital invite both organizations to strengthen their collaboration. The donation concept of Lumira Capital is seen as a welcomed initiative propitious to the acceleration of innovation, the creation of wealth and the betterment of patient health. We are grateful for Lumira Capital's vision and generosity." Mélanie La Couture, Executive Director of the Montreal Heart Institute Foundation
Paul Alofs, President and CEO of the Princess Margaret Cancer Foundation, commented on Lumira's philanthropic initiative: "We share Lumira's passion and vision to help inventive Canadians get great healthcare ideas commercialized. This distinctive approach to supporting innovation is very creative, very much needed and very much appreciated by Princess Margaret and University Health Network."
"Research is the bedrock of innovation. St. Michael's Hospital is grateful to be a beneficiary of Lumira Capital's corporate citizenship and long-term giving strategy. Its philanthropic vision of leveraging research, resources and knowledge to improve the lives of patients will strengthen St. Michael's ability to accelerate the pace of innovation at a pivotal time of change." Dr. Arthur Slutsky, Vice-President of Research at St. Michael's Hospital
Barbara Grantham, President and CEO of the VGH & UBC Hospital Foundation. "Lumira's model provides a new pathway for philanthropy to partner with investors in advancing health care innovation. Our Foundation is thrilled to be one of Lumira's beneficiaries with Fund IV. Thank you again for your leadership for, and commitment to, health care innovation and philanthropy."
About Lumira Capital
Lumira Capital is consistently Canada's most active private sector venture capital firm focused on healthcare investing and the firm leverage over 25 years of experience as one of North America's leading healthcare and life sciences venture capital investors. The firm invests in biopharmaceutical, medical device, and health IT whose products deliver transformative improvements in the lives of patients worldwide. Lumira Capital has offices in Toronto, Montreal, Vancouver, San Diego and Boston.
For more information, please visit www.lumiracapital.com.
This press release is not an offer to sell, or a solicitation of an offer to buy, any securities. Securities referred to in this news release have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1933.
SOURCE Lumira Capital
For further information: Peter van der Velden, Managing General Partner, (416) 213-4189, [email protected]