Toronto, August 18, 2016 – Toronto-based ScarX Therapeutics (ScarX) has received approval from Health Canada to begin a Phase I clinical trial of its SCX-001 nefopam cream, a first-of-its-kind topical…
Canadian biotech company developing ground-breaking therapeutic designed to minimize dermal scarring (fibrosis) TORONTO (February 16, 2016) — ScarX Therapeutics, a Canadian biotechnology company commercializing innovative treatments for dermal scarring…
MaRS Innovation portfolio company completing Phase 1 human clinical trial of drug to prevent dermal scarring VANCOUVER (February 16, 2016) — Accel-Rx Health Sciences Accelerator (Accel-Rx), a Centre of Excellence…
“More than 240 million surgeries are performed worldwide each year, yet there is no approved product on the market to prevent the dermal scarring that can frequently occur,” writes Jennifer Boggs, managing editor of BioWorld Today in her cover story on ScarX Therapeutics.
The article, “ScarX Finds New Uses for Old Drug in Dermal Scarring,” appeared in the New Co section and focuses on the MaRS Innovation-Hospital for Sick Children start-up company.
Here’s an excerpt:
“ScarX Therapeutics, a 2012 Toronto-based start-up, is looking to introduce a topical anti-scarring product onto the market — a product that can be administered by the patient — to prevent scarring following surgical procedures.
TORONTO, ON (Jan. 24, 2013) – ScarX Therapeutics, a start-up company commercializing a groundbreaking treatment to dramatically reduce post-operation scarring, is receiving a $250,000 investment from Ontario Centres of Excellence.
This story was covered in Yonge Street Media on January 30, 2013.
ScarX, a topical medication, emerged from Dr. Benjamin Alman‘s research. Alman, head of orthopedic surgery at the Hospital for Sick Children, is developing his invention in conjunction with MaRS Innovation.
Each year, doctors worldwide perform 240 million surgeries. Currently, no clinically-proven prescription therapeutic exists to reduce post-surgical scarring. Given this critical need for its technology, ScarX Therapeutics believes sales of the ScarX product could potentially reach into the billions of dollars.
“ScarX is a true game-changer when it comes to reducing the scarring associated with many surgeries,” said Dr. Tom Corr, president and CEO of Ontario Centres of Excellence. “Through our Market Readiness program, OCE is pleased to be supporting both the commercialization of this revolutionary research-based product and Ontario’s economy.”
ScarX Therapeutics, a spin-off company created by MaRS Innovation and The Hospital for Sick Children (SickKids), was profiled by Business Without Borders on September 25, 2012.
Sean Fine‘s article examines the strategic funding partnership MI pursued with NovoTek Therapeutics Inc. (NovoTek) in China to develop the anti-scarring cream, which was discovered by researchers at SickKids.
A multibillion-dollar market may await ScarX, a Toronto biomedical start-up, but first it had to figure out how to finance the development of its unique cream that reduces scarring after surgery.
Its answer to the shortage of Canadian venture capital in life sciences turned out to be a partnership with a drug company in China.
MaRS Innovation (MI), The Hospital for Sick Children (SickKids) and NovoTek Therapeutics Inc. (NovoTek) have announced a strategic partnership to co‐develop, and bring to the Chinese market, a novel therapeutic cream aimed at reducing scar formation post surgery.
This project was covered in The Globe and Mail on May 7, 2012.
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 and Innovation (MRI) through the Ontario Centres of Excellence (OCE). This provincial program was previously managed by the MI founding commercialization partners in the life and physical sciences, BioDiscovery Toronto (BDT) and Technology Transfer Toronto (TTT). MI is grateful that these organizations laid the foundation for provincial proof of principle funding and looks forward to continuing a successful provincial PoP program.
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Toronto, ON M5G 0C6
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