Toronto, Ontario, Sept. 09, 2019 (GLOBE NEWSWIRE) -- Toronto Innovation Acceleration Partners (TIAP – formerly MaRS Innovation), a leading member-based Canadian provider of venture builder expertise in the early-stage health science field, is pleased to announce the establishment of a collaboration with Amgen, a global leader in the biotechnology industry.
Under the terms of the agreement, Amgen and TIAP will jointly fund nascent technologies managed by TIAP on behalf of its Toronto-based member institutions. The two organizations will collaborate in a proactive manner to identify disruptive technologies derived from transformational discovery research conducted by the scientific community of Toronto.
In recent years, TIAP and Amgen have had ongoing interactions which have now led to a newly tailored approach to bridging over the challenging chasm of moving promising outcomes of discovery research from ideation to translational opportunities.
Rafi Hofstein, President and CEO of TIAP, says, “We have had an excellent relationship with Amgen over the years, and we are delighted that it has now led to a more formal collaboration. TIAP is one of very few organizations that take risks on early-stage research, and with Amgen’s philosophical and financial backing we expect to see even more good science reach its potential in the marketplace. To have Amgen as an active partner in our commercialization and venture builder efforts is a benefit not only to us and our members but certainly also to the Canadian health science ecosystem – and a strong testament to the increased profile of Toronto in international research circles.”
“Amgen views TIAP as an efficient and curated mechanism that delivers early access to technology opportunities, particularly in the realm of novel bio-therapeutics, chemistry and machine learning” said Philip Tagari, Amgen’s Vice President of Therapeutic Discovery. “We believe this new collaboration will enrich our Canadian presence and open up meaningful dialogue with all the stakeholders in the local health care system.”
“Amgen Canada is enthusiastic about this strategic partnership with TIAP,” added Francesco Di Marco, Vice President and General Manager of Amgen Canada. “We are delighted to contribute to supporting the life sciences ecosystem in Ontario but we are concerned that the new federal regulations will compromise future R&D investment for the better health of Canadian patients.”
About Toronto Innovation Acceleration Partners
TIAP is a leading provider of commercialization services, early-stage funding, and deal-brokering with industry and private investors. As a member-based organization made up of 14 member institutions – including University of Toronto and its affiliated teaching hospitals – TIAP’s mandate is to drive the commercialization of their most promising research breakthroughs. TIAP’s portfolio consists of early-stage assets and companies, and we leverage our deep expertise and experience to mature this portfolio via important global and strategic partnerships. With an active portfolio of more than 40 companies in sectors such as therapeutics, medical devices and IT/AI, which have raised in excess of CDN$250M from global investors, and with the creation of more than 400 direct jobs, TIAP is truly a leader in the commercialization field. For more information, please visit www.tiap.ca.