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Government Partners

Accel-Rx Health Sciences Accelerator to Partner with BDC Venture Capital

MaRS Innovation co-partner in pan-Canadian effort to help create up to 20 leading start-up companies CEBIO International Conference, San Diego – June 25, 2014: BDC Venture Capital and the Accel-Rx Health Sciences Accelerator (Accel-Rx) announced today a collaboration to provide critical seed funding to new and emerging Canadian health sciences companies. This announcement was covered in TechVibes, PE HUB and BetaKit. Together, Accel-Rx, BDC Venture Capital, and CDRD Ventures Inc. (CVI) which will provide the initial management to launch Accel-Rx operations, would focus on ... Read more

XLV Diagnostics Inc. secures $3 million Series A from Boston-based investor

THUNDER BAY, ON (May 28,2014) – XLV Diagnostics Inc., a MaRS Innovation (MI) start-up company based in Thunder Bay and specializing in low-cost, next-generation digital mammography machines, has closed a $3 million Series A investment round with Boston-based Bernard M. Gordon Charitable Remainder Unitrust. The funding will support continued product development and regulatory approval. XLV’s product will provide mammography image quality equivalent to top-of-the-line mammography machines currently in use, and will do so at a fraction of the cost of current generation ... Read more

Portfolio Snapshot: Minuum debuts on Google Glass, Crowdmark named most innovative at SIIA

There's been lots of activity in MI's portfolio this week (and it's only Wednesday). Read down for what you need to know about Whirlscape, Crowdmark, OtoSim, and ApneaDx. Whirlscape launches Google Glass demo video Whirlscape's Minuum keyboard nabbed a four-star review from CNET's editors only days before announcing their technology is now available for Google Glass. Watch the UTEST graduate's newest demo video. Reaction coverage: BNN, the Telegraph (U.K.), WPRO (radio), CNET, Mashable, TechCrunch, Mobile Syrup and Android Central, among various other tech blogs. Crowdmark ... Read more

MaRS Innovation Statement on 2014 Ontario Budget

TORONTO, ON (May 2, 2014) – MaRS Innovation congratulates the government's deepened commitment to support the life sciences through research and innovation funding. In particular, the new $30 million Life Sciences Seed Venture Capital Fund will create a partnership between the Province of Ontario, the private sector and hospital foundations to finance Ontario-based life sciences companies. “As co-designers of this venture capital fund and one of its many champions, MaRS Innovation welcomes this news,” says Dr. Raphael (Rafi) Hofstein, president and CEO. ... Read more

MI’s Rafi Hofstein featured in 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 ... Read more

Xagenic founder Shana Kelley’s MRI blog post on bringing research to market

U of T professor shares tips to her team's commercialization success When it comes to bringing research from the lab to the market, the University of Toronto’s Dr. Shana Kelley knows firsthand what it takes. She’s co-founder of Xagenic, a MaRS Innovation and U of T start-up company that’s developed the first lab-free molecular diagnostic platform with a 20-minute time-to-result based on her research with fellow U of T colleague Professor Edward Sargent. Xagenic recently announced a Series B financing announcement following their successful $10 million ... Read more

MaRS Innovation’s 2013 Top 10 List

2013 was an exceptional year for MaRS Innovation. Here are the top 10 news stories from our commercialization portfolio. 1. MaRS Innovation secures a $15 million CECR funding extension In January, MaRS Innovation was one of four Centres of Excellence for Commercialization and Research to be successfully extended by the Networks of Centres of Excellence of Canada. This achievement reflects and recognizes the quality of the startups and licensable technologies within the MaRS Innovation portfolio, as well as the rigour of its business model and the achievements of its ... Read more

MaRS Innovation President and CEO Named to Ontario Health Innovation Council

Council members include MI’s Raphael Hofstein and MI Board Chair Dr. Robert Bell On November 20, the Government of Ontario launched the Ontario Health Innovation Council to support health innovation in Ontario. Dr. Raphael Hofstein, president and CEO of MaRS Innovation, was named to the council. By becoming a member of the Council, Hofstein will assist in identifying evidence-based opportunities in Ontario’s healthcare space and advancing them into practice on a global scale. (more…) Read more

Cellax profiled in SciBX; MaRS Innovation’s MSc PoP program cited in National Post supplement

The Cellax technology was profiled in a recent issue of  SciBX (subscription necessary). MaRS Innovation is mentioned in the article as the technology's commercialization agent. Here's an excerpt: "Ontario Institute for Cancer Research scientists have developed glycopolymer-conjugated docetaxel nanoparticles that outperform Abraxane in mouse models of breast cancer. The Ontario Institute for Cancer Research (OICR) is backing the program with $1.5 million to take it to the clinic. The expectation is that the product’s ability to target the tumor stroma rather than the ... Read more

Call for Applications: MaRS Innovation seeks applicants for early-stage MSc POP projects

MaRS Innovation (MI) seeks applicants for the Medical Sciences Proof-of-Principle (MSc PoP) program, which supports early-stage medical science technologies and allows their founding teams to conduct crucial proof-of-principle work. Through the two-year MSc POP program, MI will distribute funding awards to qualified applicants within its membership on behalf of the Ministry of Research and Innovation (MRI). Funds are available in $25,000 or $75,000 grants. “At MaRS Innovation, the PoP program functions as a kind of internal Dragons' Den,” says Dr. Raphael Hofstein, president ... Read more
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