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Dr. Raphael Hofstein (left), the Honourable Minister Reza Moridi (centre) and Dr. Mark
MI’s Dr. Raphael Hofstein (left), the Honourable Minister Reza Moridi (centre) and Dr. Mark Poznansky of the Ontario Genome Institute on the January 2014 cover of Biotechnology Focus.

In a January 24, 2014 Biotechnology Focus cover article, author Shawn Lawrence discusses MaRS Innovation President and CEO Dr. Raphael (Rafi) Hofstein‘s recent visit to learn more of the emerging science and technology markets in Singapore and Japan.

The trip allowed Hofstein to discuss current MI projects, specifically start-ups XLV Diagnostics Inc. and DVLR Therapeutics Inc., whose products could benefit from Singapore’s proximity to medical technology markets in India and China.

Hofstein joined other delegates from Canada, including Dr. Mark Poznansky, president and CEO of the Ontario Genome Institute (OGI).

Here’s an excerpt from the article:

For Hofstein, his interest in Singapore goes beyond scientific collaborations. He believes the country’s location in relation to the Asian market is also an asset.

“Singapore’s close proximity to India and China is very significant to what we are trying to accomplish,” explains Hofstein, who introduced two companies from MI’s portfolio to Singapore delegates: XLV Diagnostics Inc. and DVLR Therapeutics Inc. “XLV Diagnostics was started as a joint venture between Sunnybrook and a research centre in Thunder Bay, and the company is developing a low-cost system for mammography. This is relevant because of the epidemic breast cancer outbreak in China and India that is placing a heavy burden on the healthcare systems. They can’t afford to install the highly expensive mammography systems in this area, which creates opportunity for XLV Dianostics’ technology to break into these markets,” he says.

“The Singapore market provides a gateway into China and India for both XLV Diagnostics  and DVLR Therapeutics,” explains Hofstein. “Partnering with Singapore may make this entry process easier since having a partner who understands the mentality, knows the language and people can pave the road into these markets in a amiable way.”

To read the full Biotechnology Focus article, click here.

Posted by Kailee Travis, writer and communications assistant.  

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