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Crowdmark announces new partnership with Ricoh Canada Inc.

Crowdmark Logo: Grade BetterCrowdmark, a MaRS Innovation and University of Toronto start-up incubated through the UTEST program, has reached a deal with Ricoh Canada Inc.

Announced January 20, 2014, the deal outlines national printing and scanning service for Crowdmark customers, with U.S. discussions coming up in the future, to improve the start-up’s online marking process for teachers.

Here’s an excerpt from the release (emphasis ours):

Ricoh LogoToronto, Ontario (January 20, 2014) – Crowdmark Inc., a software company that delivers an ultra-scalable collaborative assessment platform to educators worldwide, announced today that it has entered into an agreement with Ricoh Canada Inc., to support Crowdmark’s customers, and with plans to explore additional enhancements to the relationship that will deliver additional client benefits.

Today’s announcement covers standardized terms and pricing from Ricoh Canada to provide a national printing and scanning service to Crowdmark’s customers in post-secondary institutions and K-12 school systems across Canada. Discussions about a similar service for USA-based Crowdmark customers are next on the agenda.

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Whirlscape releases Minuum demo on a Smart Watch

Whirlscape continues to build momentum for the Minuum keyboard. On January 21, the UTEST grad launched a demo of their keyboard on a Galaxy Gear Smart Watch.

The remarkably accurate keyboard that encourages sloppy typing for smartphones and wearable technology uses a disambiguation algorithm to make sense of any letter combination, so it’s been proven perfect for big fingers.

Xavier Snelgrove, Minuum’s co-founder and CTO, wrote a detailed explanation on the creation of the keyboard in Input, a blog by Minuum’s creators. From language models to algorithm descriptions, the post offers fans of Minuum an inside look at the science that makes the technology so user-friendly.

The Toronto-based start-up was covered by TechCrunch, TechCrunch JapanMobile Syrup and Android Police within hours of the demo’s release.

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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

Xagenic logo CroppedWhen 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 Series A round and more than $2 million seed funding round.

In her guest blog post for the Ministry of Research and Innovation, Kelley outlines what she’s learned through her experience in the commercialization process (emphasis ours):

1. When ready to commercialize, look in your own backyard for investment and support

Shana Kelley, co-founder of Xagenic Inc.
Dr. Shana Kelley, co-founder of Xagenic Inc. and University of Toronto professor.

When the Xagenic technology was mature enough to consider commercialization, we started to call venture investors all over the world to see if we could get them to back the company.  We always got the meetings we wanted, and lots of enthusiasm and encouragement, but it was difficult to get people engaged. We were fortunate to get seed funding from a group of local organizations including MaRS Innovation, Ontario Institute for Cancer Research, the Innovation Acceleration Fund (IAF), and Ontario Centres of Excellence and then finally found the group that would eventually be our Series A lead investors, CTI Life Sciences Fund.

With CTI, we immediately got the traction we had been looking for from a venture investor that indicated genuine interest in the company. When we later made the rounds for the Series B investment outside of Canada, we repeatedly heard the comment: “we’re glad to see you could do the Series A in your own backyard.”

When I probed about why this was important, I found that the investment community thinks it is important to have your early investors as close geographically as possible. The level of interaction when a company gets off the group needs to be fairly intense — being geographically closer helps entrepreneurs and investors keep in better contact. This is definitely not a hard-and-fast rule, but I found it interesting that many investors had this perception. And it creates a particular challenge for Canadian companies given how little venture capital is available locally!

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Financial Post lists Whirlscape as Canadian Start-Up to Watch

2014 set to be big year for the start-up and UTEST grad

Whirlscape logoWhirlscape’s Minuum keyboard leads the way in Matthew Braga‘s January 5 Financial Post article highlighting promising start-ups from across Canada.

In 2013, Whirlscape’s Minuum keyboard app debuted at number 2 on Google’s Top New Paid Apps List after raising over $87,000 on an Indiegogo crowdfunding campaign. They’ve also been accepted into Y Combinator, a prestigious U.S. accelerator program.

Here’s an excerpt from the article:

Minuum’s potential goes far beyond improved touchscreen typing. The company’s so-called “one-dimensional” keyboard approach can actually be applied to a wide range of scenarios, in particular, highly touted new wearable technologies like Google Glass, and motion-sensing technologies such as Microsoft’s Kinect and the Leap Motion 3D controller, enabling users to type “anywhere.”

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Triphase signs collaboration and option agreement with Celgene Corporation, leading innovator of cancer therapies

MI portfolio company actively seeking additional products for licensing and development

Triphase-logo-WebTORONTO and SAN DIEGO, Jan. 9, 2014 — A unique collaboration of life science leaders, including the Fight Against Cancer Innovation Trust, MaRS Innovation Ventures Trust and MaRS Phase II Investment Trust, have formed Triphase Accelerator Corporation, an oncology development accelerator.

Triphase Accelerator’s announcement was covered in Yonge Street Media, Bloomburg Businessweek and Global University Venturing.

Formed in 2010, Triphase Accelerator Corporation is a cancer-focused biotechnology development company that aims to reduce the time and expense between an investigational new drug application and “proof-of-concept” at Phase II.

Triphase, spun out of the Ontario Institute for Cancer Research (OICR), develops and advances late pre-clinical, Phase I or early Phase II potential products. Triphase and its founding investors are in a position to take advantage of the excellent research and development capabilities in the Toronto healthcare and innovation ecosystem.

The Fight Against Cancer Innovation Trust (FACIT), MaRS Innovation Ventures Trust, and MaRS Phase II Investment Trust, are all Toronto-based equity investors in Triphase.

After company formation, Triphase entered into a strategic relationship with Celgene Corporation. Through this arrangement, Celgene obtained rights of first refusal on the first three oncology products Triphase advances to clinical proof-of-concept (POC), plus a right of first negotiation on three more future oncology products which may be acquired by Triphase.

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WaveCheck’s Crowdfunding Campaign Featured on CTV National News and Canada AM

Indiegogo campaign raised $53,390 from over 500 worldwide donors

Screen Shot 2013-12-18 at 9.40.42 AM
WaveCheck co-inventor, Dr. Gregory Czarnota, appeared on CTV National News on December 15.

CTV National News featured WaveCheck’s crowdfunding campaign on December 15 in a report by Avis Favaro. The report included an interview with MaRS Innovation’s President and CEO, Dr. Raphael Hofstein (at the 1:37 mark).

William Tran, a researcher associated with the project at Sunnybrook Health Sciences Centre, was also interviewed on Canada AM on December 16.

WaveCheck, which closed its campaign December 4, was invented by Dr. Gregory Czarnota of Sunnybrook Health Sciences Centre and Prof. Michael C. Kolios of Ryerson University. WaveCheck uses ultrasound technology to show people with breast cancer if their chemotherapy is working within weeks.

While the Indiegogo campaign has concluded, Sunnybrook Foundation is now accepting donations flagged “WaveCheck” on behalf of the researchers through its website

At campaign close, WaveCheck ranked in the top 0.005 per cent of health-related campaigns on Indiegogo, and was covered by CBC television and Metro Morning, the Toronto Star, Sing-Tao and MedCity News

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Johnson & Johnson Innovation Announces Collaborations with Two Canadian Early-Stage Drug Technology Development Centers

The commercialization process: Moving transformational ideas from the lab bench to the street
MaRS Innovation’s commercialization process helps inventors move their transformational ideas from the lab bench to the market.

Johnson & Johnson Innovation and its affiliate Janssen Inc. in Canada announced new collaborations with two Canadian early-stage drug technology development centres, Montreal-based NEOMED and Toronto-based MaRS Innovation, to identify and advance promising bio/pharmaceutical technologies that have the potential to impact human health.

Read the original release via The National Post or in French. MaRS Innovation’s November 25 announcement about the partnership is also available.

This story was covered by GEN: Genetic Engineering Biotechnology News.

Through these collaborations, technical experts from the Johnson & Johnson Innovation Center in Boston, Massachusetts will work with NEOMED and MaRS Innovation to identify investment opportunities emerging from well-validated scientific research discoveries within their communities of academic institutions and biotechnology companies.

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