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News

Xagenic secures $1 million investment in chip-based technology for detecting disease, cancer and infection

Funds secured from MaRS Innovation, HTX, OICR and CCR to speed commercialization of Xagenic's rapid molecular diagnostic technology TORONTO (October 13, 2010) – MaRS Innovation today announced a $500,000 investment in its Toronto-based spin-off company, Xagenic Inc. When combined with funds from other investors and lenders, the new working capital provided to Xagenic totals $1.04 million. This follow‐on financing includes a $300,000 loan from HTX, The Health Technology Exchange; $200,000 from the Ontario Institute for Cancer Research; $40,000 from the Ontario Centre of Excellence ... Read more

Federal and Provincial Proof of Principle Programs Support Translational Technology Development

TORONTO (August 16, 2010) – MaRS Innovation (MI) is pleased to announce that translational funding to support product development for early-stage technologies from its members has been successfully deployed from federal and provincial sources. At the federal level, three of MI’s commercialization projects have recently received notification of funding from the Canadian Institutes of Health Research (CIHR) Proof of Principle (PoP) program, amounting to approximately $470,000. Moreover, MI has successfully deployed about $1 million in proof of principle funding received from the Ontario Ministry of Research ... Read more

MaRS Innovation establishes co-managed fund with Johnson & Johnson

MaRS Innovation (MI) has signed a co-funding agreement with the Johnson & Johnson Corporate Office of Science and Technology to capitalize and accelerate the use of Toronto-based life sciences technologies during the early stages of pharmaceutical and medical device development. The Translational Innovation Partnership Program (TIPP) is the first co-funding agreement of its kind for MI. (more…) Read more

CIHR Commercialization Program funds insulin-alternative stem cell technology and nicotine addiction drug therapy

TORONTO (March 2, 2010) – MaRS Innovation is delighted to announce that two of its commercialization projects – notably an umbilical cord stem cell technology from Mount Sinai Hospital and nicotine addiction therapy from the Centre for Addiction and Mental Health (CAMH) - have received Canadian Institutes of Health Research (CIHR) Proof of Principle (PoP) funding. This funding – each grant is valued at $150,000 – is third party validation of MaRS Innovation’s approach to commercializing its members’ discoveries. The CIHR performs rigorous due diligence and ... Read more

MaRS Innovation selects Mount Sinai Hospital’s umbilical cord stem cell technology as first commercialization opportunity

TORONTO (June 29, 2009) – MaRS Innovation and the Samuel Lunenfeld Research Institute of Mount Sinai Hospital are pleased to announce that they have entered into an agreement to collaboratively initiate commercialization of an umbilical cord stem cell technology for potential treatment in cardiovascular disease, diabetes and neurological disorders. “With the Toronto area identified as a world-leading cluster in stem cell research, we are extremely excited to have identified this technology as our first commercialization opportunity,” said Dr. Raphael (Rafi) Hofstein, President ... Read more
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