Group items tagged

Canada has always had to fight hard to attract talent and investment

MaRS Vital to Toronto's life sciences vision is MaRS (derived from Medical and Related Sciences) a non-profit organisation and business centre located in the heart of the city. Its core function is as a biotech incubator and business park, known as MaRS Discovery District. The venture was first established in 2000 to help foster and accelerate the growth of successful Canadian businesses and, after some uncertain times, it is now gathering momentum. A separate technology transfer office, MaRS Innovation, has also been established that, it is hoped, can be a world beater in its own right (see Turning good ideas into world beaters below). The location of the MaRS building in central Toronto is important, as it is just a stone's throw away from an existing cluster of universities and academic hospitals. MaRS has many links with other research-based organisations, including collaborations with three local universities, 10 academic teaching hospitals and the Ontario Institute for Cancer Research. MaRS occupies the Old Toronto general hospital, where insulin was first discovered by Best and Banting in 1921 and then developed for use in human trials. The 21st Century organisation can build on this heritage in patient-focused discovery and development. Formerly the head of venture capital firm Primaxis, Ilse Treurnicht is chief executive of MaRS Discovery District. She acknowledges the crisis in venture capital funding, and says Canada's sector has always had less access funds through this route than other countries. This is one of the drivers behind the search for a new approach. Treurnicht says the old models of building biotech and life sciences businesses have to be discarded, as they have failed to build companies with critical mass. She says MaRS' new 'Convergence Innovation' strategy of bringing science, capital and business together will pay off.

"We call our strategy 'Convergence Innovation' and what we are trying to do is move away from the old linear model of academics struggling in their spare time to build companies or entrepreneurs doing this in a very incremental way."It takes time and it has many risk points along the way. So using this Convergence centre model to create a much more dynamic organisation which can help accelerate good ideas towards the commercialisation." But she says Canada's geography and demographics are always going to be a challenge. "This is a very large country with a small population. If you think in terms of clusters and hub regions, Canada's business hubs are separated geographically, and there is not much in between in terms of people."That means we can't try to be a little United States, because we just won't show up on the radar. We have to take a different approach. We have to think about collaboration as our potential competitive advantage - that means using networks and associations to solve problems and build businesses."So as new opportunities emerge, we can take them to market faster and hopefully with a higher success rate." The centre currently accommodates numerous start up companies, as well as those providing legal and financial services to them. AstraZeneca and GlaxoSmithKline also have offices on site. In all, MaRS provides mentoring for over 200 different companies across Ontario, and runs courses on entrepreneurship and preparing products for market.

Ontario's clean technology industry is poised for growth, and is comprised of companies that manufacture, develop and sell competitive products. Despite this promise, these companies face key challenges in becoming globally competitive - including lack of growth capital, weak domestic demand, and a small pool of management experienced in product commercialization.

Ogilvy Renault LLP, MaRS Discovery District, Blake, Cassels & Graydon LLP, Export Development Canada, RBC, Department of Foreign Affairs and International Trade, Ontario BioAuto Council, TMX Group Inc., Canada's Venture Capital & Private Equity Association, National Angel Capital Organization, XPV Capital and Investeco Capital.

A Toronto-based startup, called Skymeter, is developing this technology using what it calls 'financial-grade GPS' data.

Skymeter recently received a $500,000 loan from the Ontario Ministry of Research and Innovation and is a tenant in Toronto's MaRS Centre. In 2007, at the Canadian Venture Forum held in Toronto, Skymeter was selected as "the best angel company" and attracted investment interest from a group of US-based investors in the transportation field. According to the company's website, they are currently seeking funding from professional/strategic investors in the >$5million range.

The Osgoode Hall Law School has set up a superb program on expert forensic evidence in criminal proceedings and wrongful convictions to run in Toronto on Saturday May 9, 2009;

Location - MaRS Centre, 101 College Street, Toronto, Ontario

New Biology Ventures is a life-sciences focused venture capital incubator.   We invest in early stage opportunities through the creation and maturation of start-up companies that focus on the development and commercialization of therapeutic biopharmaceuticals. We change the economics of drug development through our unique combination of expertise in finance and structuring companies along with the capability to efficiently and effectively commercialize drugs.  

MaRS aggregates the discovery pipelines of its member institutions, which include three universities, 10 academic teaching hospitals, and the Ontario Institute for Cancer Research.

MaRS is another good example. Located in the heart of downtown Toronto, the MaRS facility is less than a mile from five major teaching hospitals, the Ontario legislature, and the University of Toronto. More than two dozen research institutes and Toronto’s financial district are also nearby.

Consequently, MaRS is a vertical incubator, with a wide variety of companies and stages of development. That mix helps companies better understand the conditions that foster growth. MaRS is home to more than 65 organizations, including The Hospital for Sick Children, the Ontario Institute for Cancer Research, Merck Frosst Canada, the McEwen Centre for Regenerative Medicine, Celtic House Venture Partners, AIM Therapeutics, and AstraZeneca Canada.

MobileMonday Toronto and MaRS are delighted to announce a partnership to develop and host a range of dynamic events for the city’s mobile industry professionals. MobileMonday at MaRS will offer thought leadership and critical industry perspectives – most recently from a senior manager at Research in Motion – while connecting top-tier professionals and boosting the profile of one of the fastest-growing sectors of communications technology.

“MaRS is a fantastic environment for sharing ideas and industry knowledge, two key building blocks of the MobileMonday community,” said Jim Brown and Alexander S. Bosika, co-founders of the MobileMonday Toronto chapter. “MaRS and its network of business advisors and capital providers are also of great benefit to many of our members who are developing business plans and seeking capital.”

For MaRS, the partnership is a natural fit with great potential to benefit the hundreds of start-up clients from across Ontario who are working hard to turn their innovative concepts into viable, thriving businesses, and come to MaRS for advice and connections to potential customers and investors. 

We don’t know for sure,” said Dr. John Evans, chair of the board of directors at MARS (Medical and Related Sciences) Discovery District in Toronto, and vicechair of Mississauga, Ont.-based NPSAllelix Biopharmaceuticals, one of the pioneers of biotech in Canada. “But we believe that if you could ‘type’ the patient processes of how he/she handles a drug, you could peel off those people who would be particularly sensitive to a drug. Then you could find a sub-population where the drug is safe and highly effective.” Evans used the arthritis drug Vioxx as an example. It helped millions of people battle painful inflammation, but was pulled from the market recently because of potential cardiac side effects in some people. “If the drug company could have predicted which patients would have complications from Vioxx treatment — through some genetic profiling — then a very powerful and effective drug could have been preserved,” Evans said. His company, NPS-Allelix Bio-pharmaceuticals, has been developing a product since 1989 that will be launched later this year. The drug secretes a parathyroid hormone for treating osteoporosis.

It builds up bone matrix and helps build bone, rather than just delay bone loss as other drugs do.

In November, Skymeter moved into the incubator at the MaRS Centre, where marketing expert Peter Evans has become their mentor and godfather. "Being surrounded by other entrepreneurs is inspiring and enlightening," Hassan says. "MaRS is an amazing place, with excellent speakers and events that are open to the public."

The father of Skymeter Corp. – which developed a BlackBerry-sized device that uses GPS signals; placed in vehicles, it meters the use of roads, parking and pay-as-you-drive insurance

Skymeter's black box will be attached to the windshield of cars so the box has a clear view of the sky. (Grush has figured out how to cope with tall buildings blocking signals.) The box contains a GPS receiver, some memory, a processor and a telecommunications chip. The satellite beams down to the earth, the GPS receiver computes where it is and uploads its history to a data centre to generate the bill. The vehicle measures its own use; the bill is itemized like a cellphone bill. If you prepay, the bill can be calculated on board.

Market research leader IDC Canada has featured MaRS client Mensante as one of its "Ten Canadian Health Companies to Watch" in 2009.

Leading international psychiatrists, family physicians, psychologists, work place mental health experts and mental health economists developed an innovative web-based mental healthcare system called FeelingBetterNow(R).

Dr. Ozersky, Mensante's CEO, was selected by the Canadian Association of Health Informatics as recipient of the 2008 Community Physician Leader and Innovator of the Year Award.