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
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
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.
Media Contact Elizabeth Monier-Williams Marketing and Communications Manager
MaRS Innovation 647-537-9097 email@example.com @marsinnovation
SOURCE: MaRS Innovation
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